Mumbai, Jan. 29 -- The headline equity benchmarks traded with minor losses in early afternoon trade amid profit booking and mixed cues from global markets as cautious investor sentiment overshadowed optimism over the conclusion of the India-EU free trade agreement (FTA) and positive economic data. Participants are keeping a close watch on the rupee's movement, ongoing Q3 corporate earnings, and evolving geopolitical developments.

Investors are also awaiting quarterly results from ITC, Tata Motors, and Vedanta, due later today, along with the upcoming Union Budget 2026 scheduled for February 1, 2026. Meanwhile, the Nifty traded below the 25,300 level. FMCG shares slipped for fourth consecutive trading session.

At 12:30 IST, the baromete...