Mumbai — January 7, 2026
Indian equity markets opened lower on Tuesday, extending losses from the previous session, as heavy selling in blue-chip stocks and renewed tariff concerns involving the United States weighed on investor sentiment.
In early trade, the 30-share BSE Sensex dropped 431.95 points to 85,007.67, while the NSE Nifty fell 105.6 points to 26,144.70, slipping below the key 26,200 level.
On Monday, the Sensex had already declined 322.39 points to close at 85,439.62, while the Nifty ended 84.50 points lower at 26,250.30.
Key Reasons Behind the Decline
Markets came under pressure due to:
Heavy selling in Reliance Industries and HDFC Bank
Fresh concerns over a possible increase in US tariffs on India
Continued geopolitical uncertainty impacting global risk appetite
Despite equity weakness, the Indian rupee strengthened by 18 paise to 90.12 against the US dollar in early trade.
Sensex Stocks: Gainers and Losers
Among the 30 Sensex constituents:
Trent shares plunged over 7%, despite the Tata Group retailer reporting a 17% rise in standalone December-quarter revenue to ₹5,220 crore
ICICI Bank, Bajaj Finserv, Asian Paints, and Tata Steel were among the gainers
Reliance Industries, Tata Motors Passenger Vehicles, Eternal, HDFC Bank, and Adani Ports remained under pressure
Market Sentiment Remains Cautious
Ponmudi R, CEO of Enrich Money, said market sentiment remains cautious amid recent volatility driven by geopolitical developments and tariff-related uncertainty. However, he added that stable domestic macroeconomic fundamentals and steady institutional participation continue to provide underlying support to Indian equities.
Trump Signals Possible Tariff Hike on India
Investor concerns intensified after US President Donald Trump stated that he was unhappy with India’s continued purchase of Russian oil and warned that Washington could raise tariffs on India “very soon.” Trump made these remarks while speaking to reporters aboard Air Force One on Sunday while traveling from Florida to Washington, D.C.
Global Market Cues
Asian markets traded higher, with:
South Korea’s Kospi
Japan’s Nikkei 225
Shanghai Composite
Hong Kong’s Hang Seng
all showing gains. US markets also closed higher on Monday.
Crude Oil and Institutional Flow
Brent crude oil slipped 0.24% to $61.61 per barrel
Foreign institutional investors (FIIs) sold shares worth ₹36.25 crore on Monday
Domestic institutional investors (DIIs) bought shares worth ₹1,764.07 crore
During Monday’s session, the Nifty briefly touched a record high of 26,373.20 but failed to hold gains, closing lower by 78.25 points, or 0.30%.
