Indian equities extended losses for a second session on Tuesday, January 20, with the BSE Sensex shedding over 350 points and the Nifty 50 breaching the 25,500 level. Weak global cues, including US tariff tensions reigniting trade-war fears, combined with mixed Q3 earnings and a depreciating rupee, fueled investor caution and sustained foreign selling pressure.
Markets opened flat despite ambivalent GIFT Nifty signals but quickly faced broad-based selling, led by heavyweights in financials and IT sectors. Sideline positioning dominated as participants navigated earnings volatility and fragile international sentiment.
Bright spots emerged in renewables and select industrials. Tata Capital rallied on robust quarterly profit growth before profit-taking curbed gains. ACME Solar climbed after commissioning a Gujarat wind project, underscoring momentum in India’s green energy push. Bajaj Electricals also drew buyers on positive wires and cables updates.
Countering these, LTIMindtree plunged on an 11% net profit drop for the December quarter, blamed on one-off costs. Asian Paints and Bajaj Finance lagged sharply, capping any rebound and amplifying benchmark declines.
Broader markets stayed muted, with buying confined to news-driven names. Safe-haven gold and silver hit record highs amid risk-off flows globally. Eyes remain on crude oil, forex swings, and geopolitics for near-term direction.