Mumbai [India], January 7: Indian equity markets extended losses for the third straight session on Wednesday, reflecting volatility driven by geopolitical concerns and cautious investor sentiment. At close, the Sensex fell 102.20 points, or 0.12%, to 84,961.14, while the Nifty declined 37.95 points, or 0.14%, to 26,140.75. The rupee strengthened by 24 paise to 89.84 against the US dollar.
Among sectors, the Nifty IT index was the top performer, rising 1.87%, while the Nifty Auto index declined 0.80%. Markets opened lower, with the Nifty 50 down 35.60 points to 26,143.10 and the Sensex down 442.94 points to 84,620.40.
Experts noted cautious domestic sentiment ahead of Q3 FY26 earnings and key US jobs data. Profit-booking in autos and financials weighed on indices, while selective buying in IT, pharma, and mid-caps provided some support. Technical analysts observed that the Nifty found support near the 21-day EMA, with a likely near-term range between 26,000 and 26,300. A decisive break below 26,000 could trigger further weakness, whereas a move above 26,300 would require upward momentum.
Global factors, including China’s export curbs on rare earths, added to market uncertainty, prompting analysts to suggest a “buy-on-dips” strategy focused on large-cap themes.
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