The Nifty and Sensex remained in the red but clawed back some losses as the session progressed. Laggards on the Nifty included IndusInd Bank, Infosys, Bajaj Finserv, Wipro and Tech Mahindra. The broader market saw mixed trends, with midcaps holding steady while smallcaps extended losses. The mid-cap index, down over a percent in the morning, came out of the woods to edge higher (0.4%). Both are down over 24 percent and 27 percent from their peaks, yet analysts remain wary of valuations, warning that further downside may be ahead. \”President Trump’s flip-flop tariff policy and the high uncertainty that it has triggered has started impacting US stock markets: S&P 500 & Nasdaq declining by 2.6 percent and 4 percent respectively yesterday,\” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The Sensex was down 173.48 points or 0.23 percent at 73,941.69, and the N50 was down 23.00 points or0.10 percent at 22,437.30.