BSE Oil & Gas

Indian markets fall for third session; Sensex down 270 points, Nifty below 25,200, BSE market cap dropped by Rs 1.45 lakh crore; most sectoral indices ended in red, Rupee hit record low of 91.74 per dollar before closing at 91.70

* Indian markets fall for third session; Sensex down 270 points, Nifty below 25,200
* BSE market cap dropped by Rs 1.45 lakh crore; most sectoral indices ended in red
* Rupee hit record low of 91.74 per dollar before closing at 91.70

Indian equity markets fell for a third straight session amid global tensions and a Japanese debt sell-off, dragging indices below key averages. Nifty dipped below 25,000 intraday but closed above 25,100. Most sectors declined; rupee hit a record low of 91.74.

shorts/business/taking-stock-market-extends-losing-streak-to-third-session-sensex-down-271-pts-nifty-under-25-200

* Indian markets fall for third session; Sensex down 270 points, Nifty below 25,200
* BSE market cap dropped by Rs 1.45 lakh crore; most sectoral indices ended in red
* Rupee hit record low of 91.74 per dollar before closing at 91.70

The Indian equity market extended its losing streak for a third consecutive session on January 21 amid weak global cues, including geopolitical tensions over Greenland and a sharp sell-off in Japanese government debt. The sustained selling pressure dragged the benchmark indices <a href="https://www.moneycontrol.com/news/business/markets/global-selloff-drags-sensex-nifty-below-200-day-moving-average-for-first-time-in-eight-months-13783016.html">below their 200-day moving averages</a> for the first time in eight months.

The market opened on a negative note, and continued selling pushed the Nifty index below the 25,000 mark intraday for the first time since October 6, 2025. However, value buying in select stocks helped the index recover from the day’s low, enabling it to close above 25,100.

At close, the Sensex was down 270.84 points or 0.33 percent at 81,909.63, and the Nifty was down 75 points or 0.30 percent at 25,157.50.

The broader indices once again underperformed the benchmarks, with the BSE Midcap and Smallcap indices declining about 1 percent each.

Also Read: <a href="https://www.moneycontrol.com/news/business/personal-finance/gold-hits-record-as-trump-tariffs-greenland-tensions-fuel-safe-haven-demand-13782202.html">Gold hits record as Trump tariffs, Greenland tensions fuel safe-haven demand</a>

In today's market fall, the market capitalisation of BSE-listed companies fell by nearly Rs 1.45 lakh crore to Rs 454.37 lakh crore from Rs 455.82 lakh crore.

Except for metal and oil &amp; gas, all other sectoral indices ended in the red, with pharma, IT, private banks, realty and PSU banks declining between 0.5-1 percent.

On the Nifty, Trent, Bharat Electronics, ICICI Bank, Tata Consumer and Apollo Hospitals were among the top losers, while Eternal, Max Healthcare, InterGlobe Aviation, Hindalco and JSW Steel featured among the gainers.

In today’s session, the Indian rupee touched a fresh all-time low of 91.74 per dollar before closing at 91.70, compared with its previous close of 90.97.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/union-budget-2026-agriculture-segment-eyes-digital-infra-rural-credit-reform-13783129.html">Union Budget 2026: Agriculture segment eyes digital infra, rural credit reform</a>

In stocks, Highway Infrastructure shares slipped 3% despite winning order from NHAI, Shoppers Stop shares fell 6% as Q3 profit dips 69%, IndiaMART InterMESH shares added 6% after Q3 profit increases 55%, Vikram Solar shares slipped 8% despite 5-fold increase in Q3 consolidated profit, SRF shares declined 6% despite better Q3 earnings.

Also Read - <a href="https://www.moneycontrol.com/news/business/economy/govt-likely-to-allocate-rs-12-511-crore-to-spv-for-home-grown-transport-aircraft-13782952.html">Govt likely to allocate Rs 12,511-crore to SPV for home-grown transport aircraft</a>

More than 900 stocks touched their 52-week lows, including Kalyan Jewellers, C.E. Info Systems, Tata Chemicals, Poly Medicure, Cohance Lifesciences, IRB Infrastructure, Balrampur Chini Mills, Godrej Properties, Sapphire Foods, Havells India, Finolex Cables, Cera Sanitaryware, Inox Wind, GNFC, Dixon Technologies, Sterling and Wilson, Tube Investments of India, Afcons Infrastructure, Trent, among others. <a href="http://moneycontrol.com/stocks/market-stats/52-week-low-bse/?indexName=BSE%2520500&amp;id=12">Click to View More</a>

<strong>New Listing</strong>

Shares of Amagi Media Labs ended higher at Rs 348 after a weak stock market debut, having listed at a 12 percent discount at Rs 317 per share on the BSE, compared with its IPO price of Rs 361 per share.

<strong>Outlook for January 22</strong>

<strong>Rupak De, Senior Technical Analyst at LKP Securities</strong>

The Nifty has fallen below the 200DMA on an intraday basis for the first time in many weeks. It usually shakes the market when the 200DMA is challenged, and it is not going to be just black and white. Over the next few days, the index may remain highly volatile.

On the lower end, support is placed at 25,125. A decisive fall below 25,125 could trigger further panic in the market. On the higher end, resistance on a closing basis is placed at 25,200.

<strong>Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities</strong>

After showing sharp weakness on Tuesday, Nifty shifted into a high volatility with weak bias on Wednesday and closed the day lower by 75 points. Nifty opened on a weak note and continued with negative trend in the early-mid part of the session. Upside recovery has emerged from near 24900 levels in the mid part, but the market was not able to sustain the recovery towards the end and closed lower.

A small green candle has been formed on the daily chart with long upper and lower shadow. Technically, this market action indicates a formation of doji type candle pattern (not a classical one), which is reflecting ongoing volatility in the market. Normally a formation of doji after a reasonable decline calls for a reversal post confirmation.

The underlying trend of the market continues to be weak. Nifty is finding difficulty in sustaining above the crucial support of 25150 levels (200day EMA). Further weakness below 24900 could possibly drag Nifty down to 24500 in the near term. However, a sustainable upmove above 25200 is likely to open short term bounce back in the market.

<strong>Disclaimer</strong>: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

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Taking Stock: Market extends losing streak to third session; Sensex down 271 pts, Nifty under 25,200

The Indian equity market extended its losing streak for a third consecutive session on January 21 amid weak global cues, including geopolitical tensions over Greenland and a sharp sell-off in Japanese government debt. The sustained selling pressure dragged the benchmark indices below their 200-day moving averages for the first time in eight months.

The market opened on a negative note, and continued selling pushed the Nifty index below the 25,000 mark intraday for the first time since October 6, 2025. However, value buying in select stocks helped the index recover from the day’s low, enabling it to close above 25,100.

At close, the Sensex was down 270.84 points or 0.33 percent at 81,909.63, and the Nifty was down 75 points or 0.30 percent at 25,157.50.

The broader indices once again underperformed the benchmarks, with the BSE Midcap and Smallcap indices declining about 1 percent each.

Also Read: Gold hits record as Trump tariffs, Greenland tensions fuel safe-haven demand

In today's market fall, the market capitalisation of BSE-listed companies fell by nearly Rs 1.45 lakh crore to Rs 454.37 lakh crore from Rs 455.82 lakh crore.

Except for metal and oil &amp;amp; gas, all other sectoral indices ended in the red, with pharma, IT, private banks, realty and PSU banks declining between 0.5-1 percent.

On the Nifty, Trent, Bharat Electronics, ICICI Bank, Tata Consumer and Apollo Hospitals were among the top losers, while Eternal, Max Healthcare, InterGlobe Aviation, Hindalco and JSW Steel featured among the gainers.

In today’s session, the Indian rupee touched a fresh all-time low of 91.74 per dollar before closing at 91.70, compared with its previous close of 90.97.

Also Read - Union Budget 2026: Agriculture segment eyes digital infra, rural credit reform

In stocks, Highway Infrastructure shares slipped 3% despite winning order from NHAI, Shoppers Stop shares fell 6% as Q3 profit dips 69%, IndiaMART InterMESH shares added 6% after Q3 profit increases 55%, Vikram Solar shares slipped 8% despite 5-fold increase in Q3 consolidated profit, SRF shares declined 6% despite better Q3 earnings.

Also Read - Govt likely to allocate Rs 12,511-crore to SPV for home-grown transport aircraft

More than 900 stocks touched their 52-week lows, including Kalyan Jewellers, C.E. Info Systems, Tata Chemicals, Poly Medicure, Cohance Lifesciences, IRB Infrastructure, Balrampur Chini Mills, Godrej Properties, Sapphire Foods, Havells India, Finolex Cables, Cera Sanitaryware, Inox Wind, GNFC, Dixon Technologies, Sterling and Wilson, Tube Investments of India, Afcons Infrastructure, Trent, among others. Click to View More

New Listing

Shares of Amagi Media Labs ended higher at Rs 348 after a weak stock market debut, having listed at a 12 percent discount at Rs 317 per share on the BSE, compared with its IPO price of Rs 361 per share.

Outlook for January 22

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty has fallen below the 200DMA on an intraday basis for the first time in many weeks. It usually shakes the market when the 200DMA is challenged, and it is not going to be just black and white. Over the next few days, the index may remain highly volatile.

On the lower end, support is placed at 25,125. A decisive fall below 25,125 could trigger further panic in the market. On the higher end, resistance on a closing basis is placed at 25,200.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing sharp weakness on Tuesday, Nifty shifted into a high volatility with weak bias on Wednesday and closed the day lower by 75 points. Nifty opened on a weak note and continued with negative trend in the early-mid part of the session. Upside recovery has emerged from near 24900 levels in the mid part, but the market was not able to sustain the recovery towards the end and closed lower.

A small green candle has been formed on the daily chart with long upper and lower shadow. Technically, this market action indicates a formation of doji type candle pattern (not a classical one), which is reflecting ongoing volatility in the market. Normally a formation of doji after a reasonable decline calls for a reversal post confirmation.

The underlying trend of the market continues to be weak. Nifty is finding difficulty in sustaining above the crucial support of 25150 levels (200day EMA). Further weakness below 24900 could possibly drag Nifty down to 24500 in the near term. However, a sustainable upmove above 25200 is likely to open short term bounce back in the market.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

The stock market benchmarks settled lower for the third straight session on Wednesday as heightened geopolitical tensions, weak global peers and persistent foreign fund outflows unnerved investors.

Recovering most of its sharp intra-day losses, the Sensex settled 270.84 points or 0.33 percent lower at 81,909.63. The benchmark tanked 1,056.02 points, or 1.28 percent, to 81,124.45 during the day. The Nifty declined 75 points or 0.3 percent to 25,157.50.

The sharp correction has raised questions over whether markets can stage a rebound ahead of the Union Budget on February 1, with analysts recommending a cautious approach amid persistent global and domestic headwinds.

Santosh Meena, Head of Research at Swastika Investmart, said the recent pre-Budget correction has prompted investors to look for safety and value within the market. He said a defensive approach, along with selective long-term bets, could help navigate the current volatility.

"In light of the sharp pre-Budget correction, investors looking for safety and value should consider a defensive rotation mixed with strategic long-term bets. The most attractive pockets of value currently appear to be large-cap private banks and select Public Sector Undertakings (PSUs)," Meena said.

He noted that private lenders such as HDFC Bank, Kotak Mahindra Bank and Federal Bank have seen valuations moderate, offering favourable entry points compared to historical averages. At the same time, he said the broader structural outlook for PSUs remains intact despite the recent market pullback.

"Stocks like ONGC, BEL and Hindustan Copper are compelling due to their alignment with energy security, defence indigenisation and industrial demand. Additionally, allocating capital to the FMCG sector can provide a necessary defensive hedge, offering earnings visibility and stability to the portfolio during this period of heightened volatility," he added.

From a technical perspective, Meena said the 25,000 level has emerged as a key support for the Nifty.

“The 25,000 mark has emerged as the critical immediate support level for the Nifty, serving as a vital psychological floor that coincides with the 200-day moving average. If the Nifty manages to hold this level, a technical recovery or relief rally cannot be ruled out. However, a decisive breach below this support could signal a deeper correction and invite further selling pressure,” he said.

Echoing a cautious stance, Sunny Agrawal, Head of Fundamental Research at SBI Securities, said predicting a market revival ahead of the Budget remains difficult due to dominant global factors.

"It is very difficult to guess whether the markets will revive ahead of the Budget announcement as global factors such as geopolitical tensions and recent rhetoric by US President Donald Trump have led to a risk-off trade. This has weakened sentiment across global markets, including India," Agrawal said.

He pointed out that sustained selling by foreign institutional investors (FIIs) at the start of the year has added to the pressure, while recent margin calls and unwinding of leveraged positions by retail and high net-worth investors have further weighed on markets.

"The decline in the rupee against the dollar is again putting pressure in terms of selling from foreign institutional investors. At the same time, the strong rally in precious metals like gold and silver has likely led to a rotation of money out of equities," he said.

"Overall, sentiments remain tepid ahead of the Budget, and any recovery is likely to be muted," Agrawal added.

Ajit Mishra, Senior Vice-President (Research) at Religare Broking, said the combination of currency weakness, FII outflows and an uninspiring earnings season has dampened investor confidence.

"The fresh bout of weakness in the rupee against the US dollar, coupled with sustained selling by FIIs, has weighed heavily on market sentiment. Additionally, the ongoing earnings season has so far failed to deliver any meaningful positive surprises," Mishra said.

He added that with the Nifty slipping below its long-term 200-day exponential moving average around 25,150, the index could see further downside.

"The Nifty may witness further decline towards the 24,900 zone before any recovery attempt. Global cues, including geopolitical developments and trade tensions, will remain key drivers. Any easing on these fronts could provide a brief relief rally; otherwise, the market is likely to maintain a negative bias until the Union Budget," Mishra said.

The Nifty and Sensex lost about 1.4 percent and 1.3 percent, respectively, on Tuesday - their steepest single-day percentage drop in more than eight months, and logged their lowest closing levels in more than three months.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</em>

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Will markets rebound from 4-month low ahead of Budget? Here's what analysts say

The stock market benchmarks settled lower for the third straight session on Wednesday as heightened geopolitical tensions, weak global peers and persistent foreign fund outflows unnerved investors.

Recovering most of its sharp intra-day losses, the Sensex settled 270.84 points or 0.33 percent lower at 81,909.63. The benchmark tanked 1,056.02 points, or 1.28 percent, to 81,124.45 during the day. The Nifty declined 75 points or 0.3 percent to 25,157.50.

The sharp correction has raised questions over whether markets can stage a rebound ahead of the Union Budget on February 1, with analysts recommending a cautious approach amid persistent global and domestic headwinds.

Santosh Meena, Head of Research at Swastika Investmart, said the recent pre-Budget correction has prompted investors to look for safety and value within the market. He said a defensive approach, along with selective long-term bets, could help navigate the current volatility.

&quot;In light of the sharp pre-Budget correction, investors looking for safety and value should consider a defensive rotation mixed with strategic long-term bets. The most attractive pockets of value currently appear to be large-cap private banks and select Public Sector Undertakings (PSUs),&quot; Meena said.

He noted that private lenders such as HDFC Bank, Kotak Mahindra Bank and Federal Bank have seen valuations moderate, offering favourable entry points compared to historical averages. At the same time, he said the broader structural outlook for PSUs remains intact despite the recent market pullback.

&quot;Stocks like ONGC, BEL and Hindustan Copper are compelling due to their alignment with energy security, defence indigenisation and industrial demand. Additionally, allocating capital to the FMCG sector can provide a necessary defensive hedge, offering earnings visibility and stability to the portfolio during this period of heightened volatility,&quot; he added.

From a technical perspective, Meena said the 25,000 level has emerged as a key support for the Nifty.

“The 25,000 mark has emerged as the critical immediate support level for the Nifty, serving as a vital psychological floor that coincides with the 200-day moving average. If the Nifty manages to hold this level, a technical recovery or relief rally cannot be ruled out. However, a decisive breach below this support could signal a deeper correction and invite further selling pressure,” he said.

Echoing a cautious stance, Sunny Agrawal, Head of Fundamental Research at SBI Securities, said predicting a market revival ahead of the Budget remains difficult due to dominant global factors.

&quot;It is very difficult to guess whether the markets will revive ahead of the Budget announcement as global factors such as geopolitical tensions and recent rhetoric by US President Donald Trump have led to a risk-off trade. This has weakened sentiment across global markets, including India,&quot; Agrawal said.

He pointed out that sustained selling by foreign institutional investors (FIIs) at the start of the year has added to the pressure, while recent margin calls and unwinding of leveraged positions by retail and high net-worth investors have further weighed on markets.

&quot;The decline in the rupee against the dollar is again putting pressure in terms of selling from foreign institutional investors. At the same time, the strong rally in precious metals like gold and silver has likely led to a rotation of money out of equities,&quot; he said.

&quot;Overall, sentiments remain tepid ahead of the Budget, and any recovery is likely to be muted,&quot; Agrawal added.

Ajit Mishra, Senior Vice-President (Research) at Religare Broking, said the combination of currency weakness, FII outflows and an uninspiring earnings season has dampened investor confidence.

&quot;The fresh bout of weakness in the rupee against the US dollar, coupled with sustained selling by FIIs, has weighed heavily on market sentiment. Additionally, the ongoing earnings season has so far failed to deliver any meaningful positive surprises,&quot; Mishra said.

He added that with the Nifty slipping below its long-term 200-day exponential moving average around 25,150, the index could see further downside.

&quot;The Nifty may witness further decline towards the 24,900 zone before any recovery attempt. Global cues, including geopolitical developments and trade tensions, will remain key drivers. Any easing on these fronts could provide a brief relief rally; otherwise, the market is likely to maintain a negative bias until the Union Budget,&quot; Mishra said.

The Nifty and Sensex lost about 1.4 percent and 1.3 percent, respectively, on Tuesday - their steepest single-day percentage drop in more than eight months, and logged their lowest closing levels in more than three months.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Live: Nifty recovers 150 pts from day's low in a choppy session, India VIX shoots | Closing Bell

Sensex and Nifty fell sharply this week ahead of the Union Budget on February 1, Defence, affordable housing, and infrastructure sectors seen as attractive picks, Analysts recommend patience, quality stocks during pre-Budget market volatility.

* Sensex and Nifty fell sharply this week ahead of the Union Budget on February 1
* Defence, affordable housing, and infrastructure sectors seen as attractive picks
* Analysts recommend patience, quality stocks during pre-Budget market volatility.

Sensex and Nifty have plunged sharply ahead of the Union Budget, driven by sentiment rather than fundamentals. Analysts see value in defence, affordable housing, FMCG, healthcare, and PSU banks, advising patience and caution amid pre-Budget market volatility.

shorts/business/amid-pre-budget-market-sell-off-where-are-the-pockets-of-value-for-investors-here-s-what-analysts-say

* Sensex and Nifty fell sharply this week ahead of the Union Budget on February 1
* Defence, affordable housing, and infrastructure sectors seen as attractive picks
* Analysts recommend patience, quality stocks during pre-Budget market volatility.

Markets have seen significant decline over three consecutive sessions, with Sensex crashing nearly 2,500 points this week so far. Analysts have highlighted which sectors seem attractive at this point of time, ahead of Union Budget on February 1.

<a href="https://www.moneycontrol.com/indian-indices/SENSEX-4.html">Sensex</a> plunged more than 1,056 points (nearly 1.3 percent) to hit an intraday low of 81,124.45 on January 21, before seeing a sharp recovery to briefly move into the green and then falling again.

<a href="https://www.moneycontrol.com/indian-indices/nifty-50-9.html">Nifty 50</a> meanwhile fell 313 points (over 1.2 percent) to its day's low of 24,919.8 on Wednesday, which marks a decline of 775 points (more than 3 percent) this week so far. However, after falling below the crucial 25,000-level, the index sharply rebounded before slipping into the deep red again.

All the major sectoral indices were in red, with consumer durables, banks and IT leading losses. Broader markets were also in deep red, with smallcap and midcap indices underperforming benchmarks.

India's volatility index jumped to 14.43, highest since June, signaling increased market stress. The sharp uptick in volatility highlights elevated intraday swings and fragile sentiment, as reflected in a weak advance-decline ratio, said SAMCO Securities.
<h3><strong>What to expect from Budget?</strong></h3>
Citi prefers themes of defence and affordable housing before Finance Minister Nirmala Sitharaman presents Union Budget 2026 on February 1. Citi Research expects Union Budget for fiscal year 2027 to offer limited support for consumption and to stay anchored on targeted priorities such as affordable housing and health insurance

It sees the government maintaining a strong tilt toward public capital expenditure, with spending budgeted above nominal GDP growth and led by defence outlays. It added that fiscal consolidation must continue even as options to raise tax revenues narrow after major cuts to corporate tax, personal income tax, and the GST regime.
<h3><strong>Is pre-Budget market crash reason to worry?</strong></h3>
Markets are correcting ahead of the Budget largely due to global geopolitical uncertainty and risk-off sentiment, not because Indian businesses are fundamentally weak, said Tushar Badjate, Director of Badjate Stock &amp; Share. He added that corporate balance sheets are stable, earnings are largely intact, and India continues to remain one of the strongest growth stories globally.

The start of 2026 has been turbulent following complex interplay between global trade uncertainties, aggressive foreign institutional investor (FII) outflows, and the proximity of the Union Budget, said Balaji Rao Mudili, Research Analyst at Bonanza. He added that the primary catalyst for this divergence is the looming threat of US-led trade tariffs following tensions surrounding the proposed Greenland policy and the subsequent threat of tariffs on multiple European and emerging market counterparts which is testing the traditional "buy the dip" mentality. The uncertainty surrounding India-US trade negotiations and depreciating rupee has been other factors adding fuel to the fire.

Pre-Budget sell-offs tend to be driven more by uncertainty than by a sudden deterioration in fundamentals, and that often creates selective value opportunities, said Anirudh Garg, Partner and Fund Manager, INVasset PMS.

“India’s underlying growth, corporate balance sheets and earnings visibility remain intact. For value investors, this correction is throwing up selective opportunities rather than reasons to panic,” he said.
<h3><strong>Which sectors looks attractive now?</strong></h3>
Ahead of the Budget, Citi Research flags defence as a preferred theme. It named <a href="https://www.moneycontrol.com/india/stockpricequote/aerospacedefence/bharatelectronics/BE03">Bharat Electronics</a> (BEL) as a top pick. It also favours affordable housing plays such as <a href="https://www.moneycontrol.com/india/stockpricequote/finance-general/aavasfinanciers/AF17">Aavas Financiers</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/finance-housing/aadharhousingfinance/AHFL">Aadhar Housing Finance</a>.

Citi says domestic manufacturing competitiveness could improve if the government overhauls the customs duty architecture. It added that any tweaks to buyback or dividend taxation, or to the STT and capital gains regime, would directly move capital markets and remain key monitorables.

The market volatility preceding the budget has unlocked some pockets of value for a long-term investor, said Pranav Koomar, Founder and CEO of PlusCash. Defensive areas like FMCG, healthcare, quality large-cap financial stocks, and some PSU banks look attractive on valuations, the analyst said.

He added that capex-linked spaces like infrastructure, defence, and the railway sector will continue to get government outlays, which could be a trigger.

In such phases, value investors are better served looking at businesses where earnings visibility remains intact but valuations have corrected due to broader risk aversion, Garg said. He added that rather than choosing between defensives or cyclicals in a binary manner, the focus should be on balance-sheet strength, pricing power, and cash-flow durability.

“Traditionally defensive pockets do provide relative stability during volatility, but several economically sensitive areas are also beginning to look attractive after meaningful price corrections, especially where order visibility or domestic demand drivers remain strong. What the market is penalising most right now are stocks that were priced for perfection. As history shows, pre-Budget corrections often reward investors who accumulate gradually, avoid leverage, and stay aligned to companies with sustainable earnings rather than reacting to short-term sentiment swings,” Garg said.

Badjate, meanwhile, said that history suggests that during periods of heightened volatility, metals, mining, oil &amp; gas and select PSU stocks tend to outperform as they offer relative stability and act as a hedge against sharp drawdowns in small and mid-cap segments.

While defensives (FMCG, pharma, etc) offer a valuation safety net, the primary engines of India's GDP growth are expected to be banking (BFSI) and manufacturing, said Balaji Rao Mudili, Research Analyst at Bonanza.

"In manufacturing, defence sector can be focused due to higher allocation expectation in the budget following need of increasing security on the borders and a push towards indigenization efforts i.e. creating import substitution and promote Make in India initiatives. Additionally, global headwinds leading to war like situations can benefit defence stocks," he added.

Currently, "defensives" like pharma and healthcare offer a margin of safety, while the IT sector gains traction due to attractive valuations and AI-driven growth, said Sanchita Mukherji, Managing Partner, Talk The Walk LLP.

"Simultaneously, value is emerging in policy-driven sectors like Infrastructure, Railways, and Renewable Energy, where long-term government capex remains a structural tailwind. Rather than chasing momentum, investors may educate themselves on quality large-caps and sectors with high earnings visibility, as these "pockets of value" typically lead the recovery once the event risk subsides," she added.
<h3><strong>What should investors do?</strong></h3>
In such uncertain phases, investors should avoid panic selling, except in illiquid, loss-making or very small microcap stocks, Badjate said.

"Commodities can be added cautiously with a long-term view, avoiding aggressive positioning. For investors unsure about direct stock selection, ETFs provide a sensible way to gain exposure. This is a phase to stay disciplined, not emotional," the analyst concluded.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-opening-us-asian-markets-slip-liveblog-13782376.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Amid pre-Budget market sell-off, where are the pockets of value for investors? Here's what analysts say

Markets have seen significant decline over three consecutive sessions, with Sensex crashing nearly 2,500 points this week so far. Analysts have highlighted which sectors seem attractive at this point of time, ahead of Union Budget on February 1.

Sensex plunged more than 1,056 points (nearly 1.3 percent) to hit an intraday low of 81,124.45 on January 21, before seeing a sharp recovery to briefly move into the green and then falling again.

Nifty 50 meanwhile fell 313 points (over 1.2 percent) to its day's low of 24,919.8 on Wednesday, which marks a decline of 775 points (more than 3 percent) this week so far. However, after falling below the crucial 25,000-level, the index sharply rebounded before slipping into the deep red again.

All the major sectoral indices were in red, with consumer durables, banks and IT leading losses. Broader markets were also in deep red, with smallcap and midcap indices underperforming benchmarks.

India's volatility index jumped to 14.43, highest since June, signaling increased market stress. The sharp uptick in volatility highlights elevated intraday swings and fragile sentiment, as reflected in a weak advance-decline ratio, said SAMCO Securities.
What to expect from Budget?
Citi prefers themes of defence and affordable housing before Finance Minister Nirmala Sitharaman presents Union Budget 2026 on February 1. Citi Research expects Union Budget for fiscal year 2027 to offer limited support for consumption and to stay anchored on targeted priorities such as affordable housing and health insurance

It sees the government maintaining a strong tilt toward public capital expenditure, with spending budgeted above nominal GDP growth and led by defence outlays. It added that fiscal consolidation must continue even as options to raise tax revenues narrow after major cuts to corporate tax, personal income tax, and the GST regime.
Is pre-Budget market crash reason to worry?
Markets are correcting ahead of the Budget largely due to global geopolitical uncertainty and risk-off sentiment, not because Indian businesses are fundamentally weak, said Tushar Badjate, Director of Badjate Stock &amp;amp; Share. He added that corporate balance sheets are stable, earnings are largely intact, and India continues to remain one of the strongest growth stories globally.

The start of 2026 has been turbulent following complex interplay between global trade uncertainties, aggressive foreign institutional investor (FII) outflows, and the proximity of the Union Budget, said Balaji Rao Mudili, Research Analyst at Bonanza. He added that the primary catalyst for this divergence is the looming threat of US-led trade tariffs following tensions surrounding the proposed Greenland policy and the subsequent threat of tariffs on multiple European and emerging market counterparts which is testing the traditional &quot;buy the dip&quot; mentality. The uncertainty surrounding India-US trade negotiations and depreciating rupee has been other factors adding fuel to the fire.

Pre-Budget sell-offs tend to be driven more by uncertainty than by a sudden deterioration in fundamentals, and that often creates selective value opportunities, said Anirudh Garg, Partner and Fund Manager, INVasset PMS.

“India’s underlying growth, corporate balance sheets and earnings visibility remain intact. For value investors, this correction is throwing up selective opportunities rather than reasons to panic,” he said.
Which sectors looks attractive now?
Ahead of the Budget, Citi Research flags defence as a preferred theme. It named Bharat Electronics (BEL) as a top pick. It also favours affordable housing plays such as Aavas Financiers and Aadhar Housing Finance.

Citi says domestic manufacturing competitiveness could improve if the government overhauls the customs duty architecture. It added that any tweaks to buyback or dividend taxation, or to the STT and capital gains regime, would directly move capital markets and remain key monitorables.

The market volatility preceding the budget has unlocked some pockets of value for a long-term investor, said Pranav Koomar, Founder and CEO of PlusCash. Defensive areas like FMCG, healthcare, quality large-cap financial stocks, and some PSU banks look attractive on valuations, the analyst said.

He added that capex-linked spaces like infrastructure, defence, and the railway sector will continue to get government outlays, which could be a trigger.

In such phases, value investors are better served looking at businesses where earnings visibility remains intact but valuations have corrected due to broader risk aversion, Garg said. He added that rather than choosing between defensives or cyclicals in a binary manner, the focus should be on balance-sheet strength, pricing power, and cash-flow durability.

“Traditionally defensive pockets do provide relative stability during volatility, but several economically sensitive areas are also beginning to look attractive after meaningful price corrections, especially where order visibility or domestic demand drivers remain strong. What the market is penalising most right now are stocks that were priced for perfection. As history shows, pre-Budget corrections often reward investors who accumulate gradually, avoid leverage, and stay aligned to companies with sustainable earnings rather than reacting to short-term sentiment swings,” Garg said.

Badjate, meanwhile, said that history suggests that during periods of heightened volatility, metals, mining, oil &amp;amp; gas and select PSU stocks tend to outperform as they offer relative stability and act as a hedge against sharp drawdowns in small and mid-cap segments.

While defensives (FMCG, pharma, etc) offer a valuation safety net, the primary engines of India's GDP growth are expected to be banking (BFSI) and manufacturing, said Balaji Rao Mudili, Research Analyst at Bonanza.

&quot;In manufacturing, defence sector can be focused due to higher allocation expectation in the budget following need of increasing security on the borders and a push towards indigenization efforts i.e. creating import substitution and promote Make in India initiatives. Additionally, global headwinds leading to war like situations can benefit defence stocks,&quot; he added.

Currently, &quot;defensives&quot; like pharma and healthcare offer a margin of safety, while the IT sector gains traction due to attractive valuations and AI-driven growth, said Sanchita Mukherji, Managing Partner, Talk The Walk LLP.

&quot;Simultaneously, value is emerging in policy-driven sectors like Infrastructure, Railways, and Renewable Energy, where long-term government capex remains a structural tailwind. Rather than chasing momentum, investors may educate themselves on quality large-caps and sectors with high earnings visibility, as these &quot;pockets of value&quot; typically lead the recovery once the event risk subsides,&quot; she added.
What should investors do?
In such uncertain phases, investors should avoid panic selling, except in illiquid, loss-making or very small microcap stocks, Badjate said.

&quot;Commodities can be added cautiously with a long-term view, avoiding aggressive positioning. For investors unsure about direct stock selection, ETFs provide a sensible way to gain exposure. This is a phase to stay disciplined, not emotional,&quot; the analyst concluded.

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Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The benchmark equity indices Sensex and Nifty recovered early losses by noon on Wednesday amid value buying after a sharp sell-off in initial trade, though volatility persisted.

In early trade, the Sensex declined 1,056.02 points, or 1.28 percent to an intraday low of 81,124.45. The broader Nifty fell 312.7 points, or 1.23 percent to 24,919.80, slipping below the 25,000 mark for the first time in over four months.

However, by around 12.45 pm, equities pared losses as buying emerged at lower levels. The Sensex recovered nearly 1,000 points from the day’s low to trade at 82,171.77, while the Nifty reclaimed the 25,200 level at 25,232.95, up 0.45 points.

<a href="https://www.moneycontrol.com/india/stockpricequote/online-services/eternal/Z">ETERNAL</a>, Power Grid Corporation of India and Grasim Industries were among the top gainers in the Nifty50 pack, rising up to 2 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/retail/trent/T04">Trent</a> and Bharat Electronics were among the major laggards, declining up to 3 percent.
<h3><span style="text-decoration: underline;"><strong>Factors behind the recovery</strong></span></h3>
<strong>1) Value buying: </strong>Buying interest was seen after markets extended the previous session’s sharp decline in early trade. On Tuesday, the Sensex and Nifty had fallen about 1.3 percent and 1.4 percent, respectively — their steepest single-day percentage drop in over eight months — and settled at their lowest closing levels in more than three months.

<strong>2) Bank Nifty pares losses: </strong>The Bank Nifty index recovered over 300 points from its intraday low after witnessing a near 1,000-point fall earlier in the session. Despite the rebound, all constituents were trading in the red, with ICICI Bank and AU Small Finance Bank leading losses, down over 2 percent each. At 11.25 am, the index was trading 1.4 percent lower at 58,576.
<h3><span style="text-decoration: underline;"><strong><a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-opening-us-asian-markets-slip-liveblog-13782376.html" target="_blank">Stock Market LIVE Updates</a></strong></span></h3>
<strong>3) Wall Street futures higher: </strong>US equity futures traded higher after steep losses on Wall Street overnight, offering some support to domestic equities. The S&amp;P 500 futures rose 0.3 percent, while Dow Jones Industrial Average futures gained 0.2 percent.

<strong>4) Crude oil slips: </strong>Brent crude, the global oil benchmark, declined 1.11 percent to USD 64.19 per barrel. Lower crude prices are generally supportive for India, a major oil importer, as they help contain inflationary pressures and reduce the country’s import bill.

<strong>5) Recovery in IT shares:</strong> Nifty IT index also recovered from its early-day losses amid value buying. The index recovered about 500 points from the day's low. TCS and Wipro rose up to 1 percent.

<strong>6) Recovery in broader markets: </strong>Broader markets also showed signs of recovery. The Nifty Midcap 100 and Nifty Smallcap 100 indices, which had declined by more than 2 percent intraday, pared a portion of their losses and were trading down by around 0.5 percent.

<strong>7) India VIX eases from highs: </strong>The volatility index, India VIX, which had surged nearly 10 percent in early trade, moderated from its highs and was last quoted at 13.68, still up 7.48 percent.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</em>

Markets in green: Sensex rises 1,000 pts from day's low, Nifty near 25,250; 7 factors behind sharp recovery

Stock Market Today: Markets in green: Sensex rises 1,200 pts from day's low, Nifty near 25,300; 5 factors behind sharp recovery

The benchmark equity indices Sensex and Nifty recovered early losses by noon on Wednesday amid value buying after a sharp sell-off in initial trade, though volatility persisted.

In early trade, the Sensex declined 1,056.02 points, or 1.28 percent to an intraday low of 81,124.45. The broader Nifty fell 312.7 points, or 1.23 percent to 24,919.80, slipping below the 25,000 mark for the first time in over four months.

However, by around 12.45 pm, equities pared losses as buying emerged at lower levels. The Sensex recovered nearly 1,000 points from the day’s low to trade at 82,171.77, while the Nifty reclaimed the 25,200 level at 25,232.95, up 0.45 points.

ETERNAL, Power Grid Corporation of India and Grasim Industries were among the top gainers in the Nifty50 pack, rising up to 2 percent, while Trent and Bharat Electronics were among the major laggards, declining up to 3 percent.
Factors behind the recovery
1) Value buying: Buying interest was seen after markets extended the previous session’s sharp decline in early trade. On Tuesday, the Sensex and Nifty had fallen about 1.3 percent and 1.4 percent, respectively — their steepest single-day percentage drop in over eight months — and settled at their lowest closing levels in more than three months.

2) Bank Nifty pares losses: The Bank Nifty index recovered over 300 points from its intraday low after witnessing a near 1,000-point fall earlier in the session. Despite the rebound, all constituents were trading in the red, with ICICI Bank and AU Small Finance Bank leading losses, down over 2 percent each. At 11.25 am, the index was trading 1.4 percent lower at 58,576.
Stock Market LIVE Updates
3) Wall Street futures higher: US equity futures traded higher after steep losses on Wall Street overnight, offering some support to domestic equities. The S&amp;amp;P 500 futures rose 0.3 percent, while Dow Jones Industrial Average futures gained 0.2 percent.

4) Crude oil slips: Brent crude, the global oil benchmark, declined 1.11 percent to USD 64.19 per barrel. Lower crude prices are generally supportive for India, a major oil importer, as they help contain inflationary pressures and reduce the country’s import bill.

5) Recovery in IT shares: Nifty IT index also recovered from its early-day losses amid value buying. The index recovered about 500 points from the day's low. TCS and Wipro rose up to 1 percent.

6) Recovery in broader markets: Broader markets also showed signs of recovery. The Nifty Midcap 100 and Nifty Smallcap 100 indices, which had declined by more than 2 percent intraday, pared a portion of their losses and were trading down by around 0.5 percent.

7) India VIX eases from highs: The volatility index, India VIX, which had surged nearly 10 percent in early trade, moderated from its highs and was last quoted at 13.68, still up 7.48 percent.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

<b>9</b> out of <b>18</b> years <b>BSE Oil & Gas</b> has given negative returns in <b>January</b>.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	27,273.02	27,641.62	27,853.98	27,060.66	26,692.06	26,479.70	26,111.10
Fibonacci	27,282.59	27,419.70	27,641.62	27,060.66	26,838.74	26,701.63	26,479.70
Camarilla	26,957.66	27,010.92	27,064.17	27,060.66	26,851.16	26,797.90	26,744.65

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