Indian stock markets opened lower on Tuesday, January 6, 2026, with both the Sensex and Nifty retreating from record highs amid mixed global cues. The decline was influenced by weakness in oil and gas stocks and investors weighing the risk of fresh U.S. tariffs.

Market Performance

The BSE Sensex fell over 150 points in early trade. At 9:21 AM, the S&P BSE Sensex was down 277.45 points, or 0.32%, to 85,162.17. The NSE Nifty 50 was at 26,199.75, falling 50.55 points, or 0.19%. The Nifty 50 opened at 26,189.70, down 60.6 points from the previous day's close, while the Sensex opened 108.48 points lower at 85,331.14.

On Monday, January 5, the Indian equity market closed lower, with the BSE Sensex declining 322.39 points, or 0.38%, to settle at 85,439.62, and the NSE Nifty 50 slipping 78.25 points, or 0.30%, to close at 26,250.30. Despite the downturn, the Nifty had reached an intraday record of 26,373.2.

Sectoral Performance

Oil and gas stocks were among the top losers. The Nifty Oil & Gas index slipped nearly 2%. Broader markets showed mixed performance, with Nifty SmallCap up 0.17% and Nifty MidCap trading flat.

Top Gainers & Losers

On the BSE, ICICI Bank, Kotak Mahindra Bank, and Tech Mahindra were among the top gainers. Conversely, Trent, Reliance, and Tata Motors PV were the top losers. Trent shares tumbled 7%. Axis Bank Ltd surged by 1.46%, while Trent Ltd retreated sharply by 5.00%.

HDFC Bank

HDFC Bank's stock was down 2%. HDFC Bank Ltd was down 1.51% to 962.7. HDFC Bank has recently dipped below its 20-day Simple Moving Average, currently standing at a price of Rs 956.3. Today, it has experienced a decline of 2.17%, with the 20-day SMA noted at 964.99. HDFC Bank has a market capitalization of ₹14,71,458 Cr.

HDFC Bank posted 11.9% year-on-year loan growth for its December 2025 quarter, signaling a strong rebound from subdued post-merger performance. Deposits grew 11.5%, with the credit-to-deposit ratio nearing 99.5%.

Global Cues

Asian markets were mostly trading higher on Tuesday morning, following overnight gains on Wall Street. Japan's Nikkei 225 index rose 1.12%, and the Topix jumped 1.48% to a record high. South Korea's Kospi lost 0.85%, while the small-cap Kosdaq inched 0.09% higher.

FII and DII Activity

Foreign institutional investors (FII) were net sellers of shares worth Rs 35.25 crore. Domestic institutional investors (DII) were net buyers of shares worth Rs 1,764.07 crore on January 5, 2026.