Key gauges trade marginally lower in morning deals

Indian equity benchmarks were trading marginally lower in morning deals, due to sharp decline in IT, TECK and Realty stocks amid weak global cues. However, losses remain capped as some support came with a private survey showed activity in India's dominant services sector rebounded in January after hitting an 11-month ‍low in December, driven by a rise in new business, though job creation was almost ?stagnant. HSBC's India Services Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 58.5 in January from 58.0 in December. While the reading marked the 54th consecutive month of ‌expansion, the ‌longest streak since the survey began in 2005, it fell short of the preliminary estimate of 59.3. Sector-wise, airline stocks remained in watch as data released by aviation regulator Directorate General of Civil Aviation (DGCA) showed domestic air traffic rose over 3 per cent to 16.69 crore in 2025, while the number of people who flew in domestic airlines fell to 1.43 crore in December. On the global front, Asian markets are trading mixed after a tech sell-off dragged the US benchmarks and witnessed a rotation into economically sensitive industries.

The BSE Sensex is currently trading at 83582.70, down by 156.43 points or 0.19% after trading in a range of 83119.95 and 83885.87. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were Oil & Gas up by 2.44%, Energy up by 2.02%, Utilities up by 1.67%, Power up by 1.58% and Consumer Durables up by 1.54%, while IT down by 5.88%, TECK down by 4.11%, Realty down by 0.53%, Healthcare down by 0.20% and Capital Goods down by 0.20% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid Corporation up by 1.77%, NTPC up by 1.60%, Eternal up by 1.57%, Mahindra & Mahindra up by 1.45% and Trent up by 1.42%. On the flip side, Infosys down by 7.24%, TCS down by 5.83%, Tech Mahindra down by 5.80%, HCL Technologies down by 5.30% and ITC down by 0.95% were the top losers.

Meanwhile, Chinese ambassador to India -- Xu Feihong has said that the India-China bilateral trade reached a record high of $155 billion in 2025, registering a year-on-year (Y-o-Y) growth of over 12 percent. He said China endorses India’s BRICS presidency, stands ready to strengthen multilateral coordination with New Delhi and is committed to work together to advance the development of the Global South.

Further, he stated the successful meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Tianjin last August led to a new level of improvement in bilateral ties, including enhanced people-to-people exchanges. Moreover, He stated that exchanges at every level have become more frequent, while economic and trade collaboration has achieved new heights.

Besides, he said China's emphasis on self-reliance resonates with India's Atmanirbhar Bharat (self-reliant India) strategy. He added ‘At the global level, China's vision of a 'world of great harmony' echoes Indian's pursuit of Vasudhaiva Kutumbakam (the world is one family).’

The CNX Nifty is currently trading at 25726.50, down by 1.05 points after trading in a range of 25563.95 and 25801.80. There were 38 stocks advancing against 12 stocks declining on the index.

The top gainers on Nifty were ONGC up by 4.32%, Coal India up by 2.48%, Power Grid Corporation up by 1.85%, NTPC up by 1.78% and Grasim Industries up by 1.49%. On the flip side, Infosys down by 7.28%, Tech Mahindra down by 5.91%, TCS down by 5.86%, HCL Technologies down by 5.43% and Wipro down by 4.08% were the top losers.

Asian markets are trading mixed; Nikkei 225 slipped 445.66 points or 0.81% to 54,275.00, Jakarta Composite plunged 43.28 points or 0.53% to 8,079.32, Shanghai Composite weakened 4.63 points or 0.11% to 4,063.11 and Hang Seng declined 75.77 points or 0.28% to 26,759.00.

On the flip side, Taiwan Weighted added 171.78 points or 0.53% to 32,367.14, KOSPI increased 66.30 points or 1.25% to 5,354.38 and Straits Times rose 5.71 points or 0.12% to 4,949.80.