The Sensex slipped 42 points to close at 85,524, while the Nifty 50 edged up just 5 points to 26,177.
Losses were led by Infosys, Tech Mahindra, Bharti Airtel, Adani Ports and Sun Pharma, while ITC, HDFC Bank, NTPC, Tata Steel and UltraTech Cement offered some support.
Broader markets were mixed, smallcaps gained around 0.4%, while midcaps finished largely unchanged.
The IT index fell nearly 1%, retreating after a strong four-session rally, even as the rupee hovered near record lows and expectations of U.S. rate cuts in 2026 stayed supportive.
Among stocks in focus, Ambuja Cements rose over 1% after approving the merger of ACC and Orient Cement, a move expected to deliver around 10% value accretion for shareholders.
Market experts say investors are now positioning ahead of the earnings season, while tracking Fed policy signals, global trade risks and rupee movement.
Globally, equities traded near record highs, gold and silver hit fresh peaks, oil prices stayed steady, and the rupee strengthened slightly to 89.65 per dollar.
That’s your ET Market Watch. Stay tuned for more market updates.
