The S&P BSE Sensex declined 120.20 points or 0.12% to 84,961.14. The Nifty 50 index dropped 37.95 points or 0.14% to 26,140.75. In three consecutive sessions, the Sensex declined 0.93% while the Nifty fell 0.71%.

Maruti Suzuki India (down 2.81%), HDFC Bank (down 1.24%) and Bajaj Finance (down 0.78%) dragged the Nifty lower today.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.47% and the S&P BSE Small-Cap index added 0.12%.

The market breadth was positive. On the BSE, 2,104 shares rose and 2,068 shares fell. A total of 179 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, down 0.64% to 9.95.

Numbers to Track:

The yield on India's 10-year benchmark federal paper added 0.12% to 6.620 compared with the previous session close of 6.612.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 89.8750 compared with its close of 90.1800 during the previous trading session.

MCX Gold futures for 5 February 2026 settlement declined 0.62% to Rs 138,222.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 98.56.

The United States 10-year bond yield fell 0.84% to 4.145.

In the commodities market, Brent crude for March 2026 settlement declined 54 cents or 89% to $60.16 a barrel.

Global Markets:

Most European markets advanced on Wednesday as Eurozone inflation stood at 2% in December, according to flash data from Eurostat, easing from 2.1% in November and aligning with the European Central Bank's (ECB) target.

Core inflation, which excludes volatile components such as energy, food, alcohol, and tobacco, moderated to 2.3% in December from 2.4% in the previous month. Services inflation also cooled, easing to 3.4% from 3.5% in November.

The ECB kept its key deposit facility rate unchanged at 2% in December, extending its pause for a fourth consecutive meeting, after last cutting rates in June.

Germany's unemployment rate remained unchanged at 6.3% in December 2025, according to data released Wednesday by the Federal Employment Agency.

Most Asian markets ended higher on Wednesday, as investors continued to assess geopolitical risks after the U.S. attack on Venezuela and renewed rhetoric over Greenland.

US President Donald Trump has discussed a range of options, including potential military measures, to acquire Greenland, with the White House describing the move as a national security priority.

Meanwhile U.S. President Donald Trump said that Venezuela would transfer between 30 million and 50 million barrels of oil to the United States. The remarks followed a weekend operation in which U.S. forces seized former leader Nicol's Maduro.

Overnight in the United States, stocks advanced as investors appeared to look past the Venezuela operation. The Dow and the S&P 500 both closed at all-time highs. The Dow advanced about 1%, while the S&P 500 gained 0.62%, extending their early-year rally. The NASDAQ Composite finished 0.65% higher, supported by strength in technology and semiconductor shares.

Stocks in Spotlight:

Indian Hotels Company fell 1.36% to Rs 715.95 after a foreign brokerage downgraded the stock to equal-weight from overweight and cut its target price to Rs 780 from Rs 811.

Meesho hit a lower circuit of 5% to Rs 173.20 after the expiry of the one-month shareholder lock-in period. Around 10.99 crore shares, or nearly 2% of the company's outstanding equity, have reportedly become eligible for trading following the end of the lock-in. However, this does not necessarily indicate immediate selling, as the expiry only allows these shares to be traded.

CMS Info Systems rose 2.31% after the company announced it had secured a landmark Rs 1,000 crore integrated cash solutions contract from State Bank of India.

Panorama Studios International rose 3.52% after the company announced a landmark multi-film collaboration with Malayalam actor and producer Nivin Pauly, involving a cumulative investment of Rs 100 crore.

Info Edge (India) rose 1.95% after it posted strong performance in its recruitment segment, which saw revenues increase 10.99% YoY to Rs 548.3 crore on 31 December 2025, up from Rs 494 crore in the same period last year.

Kalyan Jewellers India jumped 4.03% after the company's consolidated revenue climbed approximately 42% YoY, driven by robust festive demand, strong same-store sales growth (SSSG), and sharp traction in its digital platform, Candere.

Titan Company rose 3.94% after its domestic consumer businesses recorded around 40% year-on-year growth in Q3 FY26, with jewellery emerging as the biggest contributor. The jewellery portfolio posted about 41% YoY growth, supported by strong wedding and festive demand and improved performance across gold studded jewellery and gold coins.

PTC Industries fell 0.85%. The company announced that it has received a prestigious order from the Vikram Sarabhai Space Centre (VSSC), a key centre of the Indian Space Research Organisation (ISRO) to supply grade Titanium Ingots.

Tata Power Company fell 1.40%. The company said that TP Solar has manufactured 940 MW of DCR solar cells in Q3 FY26 as compared with 196 MW of cells manufactured in the corresponding period last year, thereby registering an increase of nearly 5x on YoY basis.

Jubilant Foodworks shed 1.79%. The company's consolidated revenue stood at Rs 2,438.7 crore in Q3 FY26, up 13.4% YoY. Domino's recorded a Like-For-Like (LFL) growth of 5%.

IRB Infrastructure Developers added 1.15% after the company has emerged as the selected bidder and received an LoA from the National Highways Authority of India (NHAI) for tolling, operation, maintenance, and transfer of the Chandikhole'Bhadrak section of NH-16 in Odisha.

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