Indian equity markets reopened post the Republic Day holiday, wherein the BSE Sensex and NSE Nifty 50 opened on a positive note, tracking supportive signals from global markets. The Sensex slipped over 250 points, while the Nifty briefly fell below the 25,000 mark, reflecting cautious investor sentiment.
Buying interest was seen in select heavyweight stocks. Axis Bank shares moved higher, lending some support to the banking pack, while Adani Enterprises gained around 3 per cent, emerging as one of the top performers on the benchmark indices.
On the downside, Kotak Mahindra Bank declined sharply following its quarterly results, adding pressure on the financial sector. Mahindra & Mahindra fell nearly 4 per cent, dragging auto stocks lower, while Wipro and other IT stocks also traded weak amid broader selling.
Market participants remained cautious amid mixed global macro cues, including tariff-related concerns and currency volatility, which kept risk appetite in check. Traders also monitored upcoming corporate earnings and macroeconomic triggers for clues on near-term direction.
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