India equity benchmarks fall for third session as HDFC Bank, auto stocks drag

Indian equity benchmarks fell for a third consecutive session on Wednesday, with losses in private lender HDFC Bank and automobile stocks adding to the caution triggered by geopolitical tensions and tariff worries.

The Nifty 50 fell 0.14% to 26,140.75, while the Sensex lost 0.12% to 84,961.14. The indexes have lost 0.7% and 0.9%, respectively, in three sessions.

Eleven of the 16 major sectors declined. The broader small-caps and mid-caps gained 0.4% and 0.5%.

“What we are seeing right now is more of a consolidation than anything else. It is a very stock-specific and sector-specific market as investors track quarterly business updates from companies,” said Aamar Deo Singh, senior vice president, Angel One.

U.S. President Donald Trump on Sunday warned of higher tariffs on India over Russian oil purchases, at a time when New Delhi has been seeking a trade deal with Washington.

The U.S. has already imposed up to 50% tariffs on Indian goods, with half of those imposed as a punitive measure over New Delhi’s Russian crude imports.

HDFC Bank, the heaviest-weighted stock on benchmarks, fell for a third day, sliding 1.4% on concerns over slower deposit growth.

Auto companies lost 0.8% in a pullback after six sessions of gains. Maruti Suzuki India slid 2.8%, while Tata Motors Passenger Vehicles fell 1.6%,

extending losses for the second day, after JLR sales fell in the December quarter.

Jewellery retailers jumped on robust business updates for the December quarter from several companies, aided by festive season demand and gold’s rally.

Titan added 3.9% to hit a record high, and topped the gainers’ list on

Nifty 50.

IT stocks jumped 1.9% ahead of quarterly earnings.

Tata Elxsi and Tata Technologies soared 9.5% and 5.3%, respectively, after J.P.Morgan upgraded their ratings to “neutral” from “underweight”.