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Indian stock markets ended lower on Wednesday after a highly volatile trading session, as losses in IT and realty stocks weighed on investor sentiment.  

Rising geopolitical tensions and uncertainty surrounding the US-India trade deal also capped any meaningful recovery during the day.

The Sensex slipped 0.29 per cent, or 244.98 points, to close at 83,382.71, while the Nifty ended 0.26 per cent, or 66.70 points, lower at 25,665.60.

“From a derivatives perspective, Nifty options data showed maximum call open interest at the 26,000 and 25,800 strikes, highlighting strong resistance levels,” an analyst said.

“On the downside, maximum put open interest at the 25,700 and 25,600 strikes suggests immediate support zones,” the analyst stated.

Market participants were also cautious ahead of a trading holiday. Both the National Stock Exchange of India and the Bombay Stock Exchange will remain closed on Thursday (January 15) due to municipal corporation elections in Maharashtra.

On the Sensex, shares of Tata Steel, NTPC and Axis Bank ended as the top gainers, supported by buying interest in metal and banking stocks.

In contrast, Asian Paints, TCS and Maruti Suzuki dragged the index down. A similar trend was seen on the Nifty, where Tata Steel, NTPC and Axis Bank advanced, while Asian Paints, TCS and Tata Consumer Products were among the top losers.

Broader markets performed better than the frontline indices. The Nifty SmallCap 100 index rose 0.67 per cent, while the Nifty MidCap 100 index settled 0.29 per cent higher.

On the sectoral front, IT and realty stocks faced selling pressure, with the Nifty IT index falling 1.08 per cent and the Nifty Realty index declining 0.92 per cent.

Meanwhile, metal and PSU bank stocks outperformed the market, with the Nifty Metal index jumping 2.70 per cent and the Nifty PSU Bank index rising 2.13 per cent.

Analysts said that the market remained cautious amid global uncertainties, even as strength in broader markets and select sectors helped limit deeper losses.

Commenting on Nifty technical outlook, market watchers stated that repeated rejection near the 25,900 zone continues to cap upside, with immediate resistance now placed around 25,800.

“On the downside, a decisive break below 25,600 could open the door for further weakness toward 25,500–25,450,” they added.