Asian markets traded lower on Wednesday, following overnight losses on Wall Street, on concerns over President Donald Trump's tariffs on European countries over the Greenland issue.

US stock market ended lower on Tuesday, all three major indices posting their biggest one-day drops in three months, on a broad selloff triggered by concerns over fresh tariff threats from President Donald Trump against Europe.

Here's a table showing how US stocks performed on Tuesday:

Source: Equitymaster

At present, the BSE Sensex is trading 114 points lower, and the NSE Nifty is trading 30 points lower.

Tata Steel, M&M, and HUL are among the top gainers today.

Bharat Elec, Trent, and HCL Tech, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.2% lower, and the BSE Smallcap index is trading 0.1% lower.

Sectoral indices are trading mixed today, with stocks inthe  IT sector and the banking sector witnessing selling pressure. Meanwhile, stocks in the metal sector and the oil & gas sector witnessed buying.

The rupee is trading at Rs 90 against the US dollar.
 

JSW Energy Expands Power Supply in Bengal

JSW Thermal Energy Two, a subsidiary of JSW Energy, has signed a power supply agreement with West Bengal State Electricity Distribution Company (WBSEDCL) to build a new 1,600 MW (2 × 800 MW) thermal power plant in Salboni, West Bengal. The plant is expected to be commissioned within the next six years.

The project was awarded through a competitive bidding process conducted by WBSEDCL. The plant will run on domestic coal allocated to West Bengal under the SHAKTI B (iv) policy, ensuring fuel security.

This is the second power purchase agreement JSW Energy has signed with WBSEDCL. The first 1,600 MW agreement was signed in March 2025.

Currently, JSW Energy operates 5,658 MW of thermal power capacity. With 3,200 MW under construction at Salboni and a potential addition of 1,800 MW at KSK Mahanadi, the company's total thermal capacity is expected to rise to 10,658 MW. All new capacity will use domestic coal.

JSW Energy plans to reach 30 GW of power generation capacity and 40 GWh of energy storage by 2030, with a long-term goal of becoming carbon neutral by 2050.
 

HCLTech Partners Carahsoft for U.S. Public Sector

HCLTech has partnered with Carahsoft Technology to accelerate digital transformation for U.S. public sector organizations.

Under the agreement, Carahsoft will distribute HCLTech's solutions to federal, state, local, and education agencies through its government-approved contract networks and reseller partners.

HCLTech will provide AI-driven platforms, cloud modernization, cybersecurity, and citizen-focused digital services through its dedicated public sector subsidiary.

Carahsoft brings strong expertise in government contracting and market access. Together, the partnership aims to help agencies improve services, strengthen security, and boost operational efficiency using AI and modern technology.

The partnership aims to help public sector organizations improve citizen services, strengthen cybersecurity, and increase operational efficiency by deploying AI and modern digital technologies more effectively.
 

Power Grid Approves Major Transformer Procurement Plan

Power Grid Corporation of India has received approval to invest Rs 9.14 billion (bn) for buying cold spare transformers and reactors for its regional power committees. The approval was granted by the Committee of Directors on Investment in Projects on 20 January 2026.

The procurement focuses on cold spare transformers and reactors, which act as backup equipment to ensure smooth power transmission and reduce downtime during maintenance or unexpected failures.

The investment is distributed across regions as follows: WRPC gets Rs 4.02 bn, SRPC Rs 3.46 bn, and NERPC Rs 1.66 bn. All projects are planned to be completed in 30 months, showing coordinated scheduling and efficient resource management across regions.

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