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Informist, Tuesday, Jan. 6, 2026

By Eshitva Prakash

MUMBAI – Analysts expect equity indices to be range-bound on Wednesday as market participants await finer details of the recently concluded free trade agreement between India and the European Union. Analysts are split about market volatility amid the agreement. While some see the Union Budget adding to the volatility in the market, others see lower volatility until Feb. 1 as traders may wait before taking positions.

The trade deal between India and the US is at "a very advanced stage," Petroleum Minister Hardeep Singh Puri told CNBC Tuesday. Puri said he was told the trade deal would be announced soon. "There's an economic opportunity here for others who want trade deals," Puri said. The US has maintained a 50% punitive tariff on Indian exports, largely because of India's oil purchases from Russia. "Probably if the deal with the US is attractive, then the market will react positively, but I don't think so there," Pravin Bokade, head of research at IDBI Capital Markets & Securities, said. "I think the US wants an aggressive cut in the import duties from the Indian side, especially on the agricultural products and other commodities which are in abundance in India and which will affect the Indian farming community. So, we need to see the deal, what could the deal be, but I am not sure if that will be very positive for India," Bokade said.

The 25000–24900 level would act as a key support for the Nifty 50, Shrikant Chouhan, head of equity research at Kotak Securities said in a note. Chouhan sees the 50-stock index facing resistance around 25200 points. A decisive breakout above this level could push the market to 25300-25350 level. The Nifty 50 is hovering around its 200-day moving average, which indicates a bearish grip on the market, Rupak De, technical analyst at LKP Securities, said. The Nifty 50 settled at 25175.40 points, up 126.75 points, despite the announcement of a trade deal with the European Union. 

On the earnings front, fast-moving consumer goods major Marico on Tuesday reported strong year-on-year top line and bottom line growth for the December quarter, led by growth in both the India and international businesses. Marico's consolidated net profit for the December quarter rose 12% on year to INR 4.47 billion, which was in-line with expectations of analysts.

Traders await earnings results for four Nifty 50 companies. Larsen & Toubro is expected to report a double-digit year-on-year increase in its consolidated top line and bottom line for the December quarter due to a healthy execution of its order book, according to brokerages tracking the company. Maruti Suzuki India's net profit is expected to grow at the fastest rate in the last 13 consecutive quarters on a surge in its wholesale despatches due to the goods and services tax rate cut in a festival-heavy quarter. A healthy execution of its order book is expected to lead to Bharat Electronics reporting double-digit year-on-year growth in revenue and net profit for the December quarter. This is likely to be the 13th consecutive quarter of a year-on-year increase in the company's net profit. SBI Life Inusrance Co. is expected to report a near-5% on-year decline in its net profit for the December quarter, according to Motilal Oswal Financial Services.

Market participants await the US Federal Reserve's interest rate decision, due in the early hours of Thursday. Traders are almost unanimous that the US Federal Reserve will maintain its current lending rate, according to data from the CME Fedwatch tool.  End

Edited by Deepshikha Bhardwaj

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