Headline equity indices ended a choppy session with modest losses on Wednesday, weighed down by profit booking, persistent foreign fund outflows and the expiry of F&O contracts on the BSE. Investors remained cautious as they tracked developments related to the India'US trade deal, ongoing Q3 earnings announcements and geopolitical developments. The Nifty closed below the 25,700 mark after touching an intraday high of 25,791.75 in afternoon trade.

IT, realty and auto shares declined, while metal, PSU bank and oil & gas shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex slipped 244.98 points or 0.29% to 83,382.71. The Nifty 50 index lost 66.70 points or 0.26% to 25,665.60. In two consecutive trading sessions, the Sensex declined 0.60% while the Nifty fell 0.48%.

In the broader market, the S&P BSE Mid-Cap index rose 0.16% and the S&P BSE Small-Cap index gained 0.25%.

The market breadth was negative. On the BSE, 2,016 shares rose and 2,147 shares fell. A total of 182 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.09% to 11.32.

Trading on Indian stock exchanges will remain suspended on Thursday, 15 January 2026, as the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on account of the Maharashtra municipal corporation elections.

Economy:

The annual rate of inflation based on the all-India Wholesale Price Index (WPI) increased 0.83% year-on-year in December 2025, compared with a decline of 0.32% in November 2025. Inflation turned positive after three months and marked the fastest pace since April, mainly driven by higher prices of manufactured products.

Inflation in manufactured products accelerated to 1.82% in December 2025 from 1.33% in November 2025, led by an increase in prices of food products, pharmaceuticals, medicinal chemical and botanical products, and cement, lime & plaster. Inflation in food products rose to 0.90% from 0.62%, while prices of pharmaceuticals increased to 1.60% from 1.39% a month earlier. Inflation in cement, lime & plaster stood at 0.30% compared with 0.08% in November.

Food prices remained unchanged in December after declining 2.27% in November, supported by higher prices of milk, fruits, eggs, meat & fish. Meanwhile, inflation in fuel and power remained negative at 2.31% in December 2025 compared with a contraction of 2.27% in November, weighed down by lower prices of LPG, petrol, and high-speed diesel.

IPO Update:

The initial public offer (IPO) of Amagi Media Labs received bids for 28,88,245 shares as against 2,72,66,589 shares on offer, according to stock exchange data at 15:25 IST on Wednesday (14 January 2026). The issue was subscribed 0.11 times.

The issue opened for bidding on Tuesday (13 January 2026) and it will close on Friday (16 January 2026). The price band of the IPO is fixed between Rs 343 and 361 per share. An investor can bid for a minimum of 41 equity shares and in multiples thereof.

Buzzing Index:

The Nifty IT index dropped 1.08% to 37,822.70. The index rose 0.65% in the past trading session.

Mphasis (down 2.87%), Tata Consultancy Services (down 2.27%), Oracle Financial Services Software (down 2.22%), Tech Mahindra (down 1.74%), Coforge (down 1.68%), Wipro (down 1.59%), Persistent Systems (down 1.38%), LTIMindtree (down 1.16%) and Infosys (down 0.13%) declined.

Stocks in Spotlight:

Larsen & Toubro shed 0.49%. The company said that its Heavy Civil Infrastructure business has secured a 'large' order from Torrent Energy Storage Solutions for the construction of India's biggest pumped storage project in Raigad, Maharashtra.

Just Dial slipped 2.32% after the company reported 10.2% decline in net profit to Rs 118 crore despite a 6.4% rise in operating revenue to Rs 305.7 crore in Q3 FY26 as compared with Q3 FY25.

Tata Elxsi fell 5.41% after the company reported 45.28% decline in net profit to Rs 108.89 crore in Q3 FY26 as against Rs 199 crore posted in Q3 FY25. However, revenue from operations rose 1.52% to Rs 953.47 crore in Q3 FY26 as against Rs 939.17 crore posted in Q3 FY25.

5paisa Capital jumped 5.40%. The company reported a 23.98% decline in consolidated net profit to Rs 12.30 crore for the quarter ended 31 December 2025, compared to Rs 16.18 crore in the same quarter last year. Total revenue from operations fell 7.02% YoY to Rs 79.28 crore in the quarter ended 31 December 2025.

Puravankara surged 6.80% after the real estate developer reported a 17% increase in sales value to Rs 1,414 crore in Q3 FY26, compared with Rs 1,209 crore in Q3 FY25. The company's collections climbed 22% YoY to Rs 1,140 crore in Q3 FY26.

Billionbrains Garage Ventures (Groww) added 0.55%. The company's consolidated net profit jumped 16.04% to Rs 546.33 crore on 19.37% increase in revenue from operations to Rs 1,216.07 crore in Q3 FY26 over Q2 FY26.

Union Bank of India surged 7.73% after the bank reported 8.97% rise in net profit to Rs 5,017 crore on a 1.55% increase in operating income to Rs 13,869 crore in Q3 FY26 as compared with Q3 FY25.

Indian Overseas Bank added 1.72% after the bank's standalone net profit jumped 56.25% to Rs 1,365.12 crore in Q3 FY26 as against Rs 873.66 crore in Q3 FY25. Total income rallied 15.01% year on year (YoY) to Rs 9,671.58 crore in Q3 FY26.

Mini Diamonds India added 0.94% after the company said it has received an order worth Rs 14 crore from Aura Diamond, a Mumbai-based domestic entity, for the supply of lab-grown polished diamonds.

Kolte-Patil Developers rose 1.09%. The company said that it has signed a joint development deal for a 1.1 million square feet residential project in Bhugaon, Pune, that has an expected gross developable value (GDV) of Rs 850 crore.

Responsive Industries fell 2.26%. The company announced the resignation of Bhavneet Singh Chadha from the position of chief financial officer (CFO) and key managerial personnel of the company due to personal reasons.

Quadrant Future Tek soared 7.88% after the company has received an order from Chittaranjan Locomotive Works (CLW) for the supply, installation, testing and commissioning of 353 onboard KAVACH locomotive equipment.

NLC India advanced 1.49% after the company signed Memorandum of Understanding (MoU) with the Government of Gujarat for development of large-scale renewable energy (RE) projects.

Garment Mantra Lifestyle rallied 3.48% after the company said it has achieved export sales of Rs 100 crore in the current financial year, marking the highest-ever export performance since its inception.

Oswal Pumps rose 0.82%. The company received an LoA worth Rs 119.92 crore from Karnataka Renewable Energy Development for the supply and installation of 3,263 off-grid DC solar pumping systems across Karnataka.

Pace Digitek slipped 1.30%. The company announced that it has secured an order worth Rs 375.7 crore from Bondada Engineering for the development of a 300 MW solar power project.

Ajmera Realty & Infra India added 1.45% after the company reported quarterly sales of Rs 630 crore for Q3 FY26, marking a sharp increase of 123% compared with sales of Rs 270 crore recorded in Q3 FY25.

Global Markets:

Most European markets advanced on Wednesday as investors focused on a meeting between U.S., Greenlandic and Danish officials to discuss the future of the Arctic island.

Asian markets ended higher as Japanese indexes hit record highs on Wednesday.

The rally in Japanese stocks was fuelled by expectations that Prime Minister Sanae Takaichi could call for a snap election, likely in February. If called, it will be Takaichi's first time facing Japan's voters in an election.

Overnight in the U.S., all three major indexes fell as investors grappled with volatility from a flurry of proposals from U.S. President Donald Trump floated in the past few days.

The S&P 500 dipped 13.53 points or 0.2% to 6,963.74, as investors sold JPMorgan despite better-than-expected numbers. The Dow Jones Industrial Average shed 398.21 points or 0.8% to 49,191.99. The Nasdaq Composite fell 24.03 points or 0.1% to 23,709.87.

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