CHENNAI: Indian markets pared early losses but remained subdued amid renewed concerns over escalating US tariff tensions—particularly in steel, aluminum, and auto sectors—raising fears of global trade spillovers.
As of 01:07 PM on Wednesday, the BSE Sensex was down 81.25 points or 0.09% at 82,652, while the NSE Nifty50 was up 19.90 points or 0.07% at 25,215.
A few stocks stood out on the back of specific corporate developments. These included HDFC Life, HDB Financial Services, and Dixon Technologies:
HDFC Life shares rose 1% after the company reported a 14% YoY increase in Q1FY26 net profit to ₹546 crore. Individual Annualized Premium Equivalent (APE) grew 12.5%. The company also showed strong growth in premium income and market share.
HDB Financial Services shares declined 2% after the company posted a 2% YoY fall in Q1 profit to ₹568 crore and an 18% drop in revenue.
Dixon Technologies gained 3% after announcing a joint venture with Chongqing Yuhai Precision Manufacturing, under which Dixon will hold a 74% stake.
Despite some positive stock-specific triggers, markets remain cautious due to global tariff uncertainties, which continue to cap the upside. Investors are closely monitoring quarterly results and management commentary for cues.
Defensive sectors such as PSU Banks and Media are gaining, while cyclical sectors like Auto and Metals are under pressure. Overall market sentiment remains sensitive to US policy developments and global risk-off signals.
Analysts expect markets to stay range-bound in the near term, with earnings season and global cues likely to drive direction. Defensive positioning and selective stock picking may offer resilience amid ongoing external volatility.