Mumbai, Jan 10 (IANS) The Indian equity benchmarks closed this week down around 2.5 per cent, continuing decline through five sessions amid persistent uncertainty over the US-India tariff talks and escalating geopolitical tensions.

Profit-booking in autos, metals, and oil and gas weighed on indices during the week, while selective buying in consumer durables, on hopes of a demand revival, offered brief respite.

Nifty dipped 2.45 per cent this week and 0.75 per cent on the last trading day to end at 25,638. At close, Sensex was down 604 points or 0.72 per cent at 83,576. It dipped 2.55 per cent during the week.

Bank Nifty on the weekly chart has formed a dark cloud cover candlestick pattern indicating selling pressure at higher levels, according to analysts.

Domestic markets remained in a risk-off mode, especially concerns over potential US trade measures linked to Russia-related sanctions, analysts said. Market sentiment weakened amid global headwinds, including the Venezuela–US standoff, concerns over Russian oil imports, China’s restrictions on rare earth exports, and continued FII outflows.

Broader indices performed in line with benchmark indices during the week, with the Nifty Midcap100 down 2.64 per cent, while Nifty Smallcap100 declined 3.08 per cent.

Investors are keeping an eye ahead of key Q3 FY26 IT earnings scheduled for release next week.

Meanwhile, the court is expected to rule on US President Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose broad global tariffs, including a 10 per cent base levy and higher reciprocal duties on key trading partners.

Volatility is likely to persist in the near term, particularly in US exposed companies and sectors such as metals and oil and gas, according to analysts.

Overall, markets are expected to stay range-bound with a mixed bias, maintaining a balance between external risks and domestic fundamentals, they noted.

—IANS

aar/na