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Below the Quote on Evening Markets 07th January 2026 by Mr. Vikram Kasat, Head - Advisory, PL Capital

Indian equity benchmarks ended lower for the third consecutive session on Wednesday, as lingering geopolitical tensions and tariff-related concerns continued to cloud optimism around the earnings outlook.

The Nifty closed 38 points lower at 26,141, while the Sensex ended down 102 points. Bank Nifty underperformed, slipping 127 points to close at 59,991, dragged mainly by HDFC Bank and SBI. 

Despite the headline weakness, the broader market showed selective resilience. Midcap and smallcap indices outperformed, with the BSE Midcap rising 0.5% and the Smallcap index gaining 0.12%, indicating stock-specific buying interest.

On the sectoral front, IT emerged as the top gainer, supported by renewed buying in large-cap technology stocks. Pharma and consumer durables also advanced, rising between 0.5–1.8%. In contrast, auto, banking, real estate, telecom, and oil & gas stocks faced pressure, each slipping around 0.5%, as rate-sensitive segments continued to underperform.

On the Nifty, Titan Company, Tech Mahindra, HCL Technologies, Wipro, and Jio Financial Services led the gains, reflecting strength in consumption and technology themes. On the downside, Cipla, Maruti Suzuki, Max Healthcare, Tata Motors (PV), and Power Grid weighed on the index.

Jewellery stocks stood out, extending gains on the back of strong Q3 business updates, reinforcing confidence in festive-led demand trends.

Going ahead, market participants are closely tracking geopolitical developments, global cues, FII activity, and the ongoing Q3 earnings season for further clarity. Overall, the market tone remains cautiously optimistic, with stock-specific action and sectoral rotation driving returns.

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