New Delhi: Equity benchmark indices Sensex and Nifty started the day on a firm note on Thursday but later faced selling pressure, with investors remaining in a wait-and-watch mode, as hopes are pinned on a favourable outcome from the US-India trade talks.

Fresh foreign fund outflows also dented investors' sentiment as they preferred staying on the sidelines.

However, later the BSE benchmark quoted 71.51 points lower at 82,554.47, and the Nifty traded 30.30 points down at 25,182.55.

However, Tech Mahindra declined over 1 per cent after its June quarter earnings failed to cheer investors. IT services firm Tech Mahindra reported a nearly 34 per cent year-on-year increase in consolidated net profit to Rs 1,140.6 crore for the quarter ending June 30, 2025, on the back of growth in communications and financial services verticals.

ICICI Bank, Eternal, State Bank of India and Asian Paints were also among the laggards.

Results of the IT sector continue to disappoint and, therefore, this can remain a drag on the overall market, he added.

The US markets ended higher on Wednesday.

"Markets appear to be in a wait-and-watch mode, eyeing a major trigger to scale Nifty’s all-time high of 26,277.35. Hopes are pinned on a favourable outcome from the US-India tariff talks," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Global oil benchmark Brent crude climbed 0.58 per cent to USD 68.92 a barrel.

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