Sensex Edges Lower as Investors Weigh Bank, Energy and PSU Shares

Banking and energy stocks drag benchmarks as investors stay cautious amid mixed earnings and global cues

Written by: Supriya Kadu

Edited by: Rajan Mhatre

Last Updated: January 19, 2026

Summary: Indian markets slipped with banks and energy names under pressure, while selective opportunities emerged.

Thursday, Indian stock markets were cautious. The Sensex and Nifty 50 held important support levels, but the day ended on a lower note as traders tried to make sense of mixed earnings signals and pressures from around the world.

The banking segment, which has been driving much of the market’s recent momentum, showed some signs of fatigue. Stocks like HDFC Bank and ICICI Bank didn’t see broad strength beyond early trading, and traders were also looking at upcoming quarterly earnings from lenders and major corporates.

Energy heavyweight Reliance Industries remained in focus ahead of its quarterly results, but its stock didn’t materially lift the index during the session. At the same time, heavy industrial companies such as Bharat Heavy Electricals (BHEL) and metal makers had uneven involvement, with some tracking company-specific news and others following broader market trends.

Technology and mid-cap names, including stocks like Tata Tech, were among those eyed by traders looking for pockets of relative strength amid the broader uncertainty.

Market players said that the market was stuck in a narrow range because of neutral global indexes, continued caution around macroeconomic data, and the earnings calendar. Investors appeared reluctant to commit aggressively in either direction without more clarity on earnings trends and global cues.

Overall, the sense across Dalal Street was one of measured caution — traders were watching key support levels on the Sensex and the Nifty carefully, while also paying attention to earnings from financial and industrial sectors that could set the tone for next week’s trading.