FX.co ★ India Stocks Trade Lower in Morning Deals

Indian equities slipped 80 points, or 0.1%, to 84,194 in Wednesday morning trade, snapping a three-session winning streak, as weakness in technology, banking, metal, and oil & gas stocks weighed on the market. The decline came after the broader index hit its highest level since early January on Tuesday, prompting traders to lock in profits.

The BSE Sensex mirrored overnight losses on Wall Street, driven by weaker-than-expected US retail sales data and caution ahead of upcoming US jobs figures. Sentiment was also tempered by anticipation of domestic January inflation data, due later this week. Inflation is expected to edge up to 2.4%, largely on the back of higher food prices, marking an eight-month high but remaining within the RBI’s 2%–6% target range.

Losses were limited by gains in auto, consumer durables, and healthcare stocks, with the auto sector advancing 2.1%. Among the notable decliners were HCL Technologies (-1.0%), IndusInd Bank (-1.0%), TCS (-0.9%), and ITC (-0.8%), while Mahindra & Mahindra and Titan climbed 1.8% and 1.5%, respectively.