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Government expected to stick to its fiscal consolidation path despite high debt levels, Don’t expect any tweaks to capital gains tax in upcoming budget, Believe FY27 EPS growth will be in low double-digit instead of mid-teens

* Government expected to stick to its fiscal consolidation path despite high debt levels
* Don’t expect any tweaks to capital gains tax in upcoming budget
* Believe FY27 EPS growth will be in low double-digit instead of mid-teens

shorts/business/daily-voice-balancing-consumption-boost-fiscal-consolidation-capex-seen-as-core-themes-for-budget-2026-says-ambit-s-trilok-agarwal

* Government expected to stick to its fiscal consolidation path despite high debt levels
* Don’t expect any tweaks to capital gains tax in upcoming budget
* Believe FY27 EPS growth will be in low double-digit instead of mid-teens

Balancing the three C’s – consumption boost, fiscal consolidation and capex – can be seen as the core themes for the FY27 budget, said Trilok Agarwal, the fund manager – equity at Ambit Asset Management in an interview to Moneycontrol.

He believes FY27 EPS growth will be in the low double-digit instead of mid-teens, leading to expectations of earnings normalisation rather than acceleration.

Financials and consumption should see better growth next fiscal, according to him.

What could be the key considerations in the Union Budget, given tariff concerns and ongoing geopolitical tensions?

Fiscal discipline and consolidation will be a key feature with the Government expected to stick to its fiscal consolidation path despite high debt levels.

Balancing the three C’s – Consumption boost, fiscal Consolidation, and Capex – can be seen as the core themes for the FY27 budget.

Do you think the government may tweak capital gains policies in the Union Budget?

We don’t expect any tweaks to capital gains tax in the upcoming budget.

Are you confident about consumption growth in FY26 and FY27?

GST rationalisation and relief to income taxpayers will have an impact on consumption in FY26 and FY27. Other factors are improving rural demand is expected to remain stable (underpinned by a good monsoon), and urban employment appears to be bottoming out.

Given expectations of 15–16 percent earnings growth in FY27, which sectors do you see as the key drivers of this growth?

We believe FY27 EPS growth will be in the low double-digit instead of mid-teens, leading to expectations of earnings normalisation rather than acceleration. Financials and consumption should see better growth next fiscal.

Are you betting on defence stocks, and do you expect strong earnings growth in the sector?

With rising geopolitical risks across the globe, defence is no longer just a theme but a matter of national security. Growth will continue as the Government focuses on indigenisation and higher allocations. We are selectively investing in the sector.

Do you think global factors alone are responsible for the recent sharp depreciation in the rupee?

Global factors are seen as a primary driver of the anticipated depreciation. An uncertain and punitive tariff imposed by the US on India also weakened the INR.

Do you see the possibility of strong private capex over the next few years, and would you consider allocating fresh capital to capital goods?

While the Government has done the heavy lifting for years through massive public spending on infrastructure, the private sector has shown selective signs of picking up, though not yet broad-based. We think strong growth is still some time away, as utilization levels are still hovering at 74-75 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.

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Daily Voice: Balancing consumption boost, fiscal consolidation, capex seen as core themes for Budget 2026, says Ambit's Trilok Agarwal

Balancing the three C’s – consumption boost, fiscal consolidation and capex – can be seen as the core themes for the FY27 budget, said Trilok Agarwal, the fund manager – equity at Ambit Asset Management in an interview to Moneycontrol.

He believes FY27 EPS growth will be in the low double-digit instead of mid-teens, leading to expectations of earnings normalisation rather than acceleration.

Financials and consumption should see better growth next fiscal, according to him.

What could be the key considerations in the Union Budget, given tariff concerns and ongoing geopolitical tensions?

Fiscal discipline and consolidation will be a key feature with the Government expected to stick to its fiscal consolidation path despite high debt levels.

Balancing the three C’s – Consumption boost, fiscal Consolidation, and Capex – can be seen as the core themes for the FY27 budget.

Do you think the government may tweak capital gains policies in the Union Budget?

We don’t expect any tweaks to capital gains tax in the upcoming budget.

Are you confident about consumption growth in FY26 and FY27?

GST rationalisation and relief to income taxpayers will have an impact on consumption in FY26 and FY27. Other factors are improving rural demand is expected to remain stable (underpinned by a good monsoon), and urban employment appears to be bottoming out.

Given expectations of 15–16 percent earnings growth in FY27, which sectors do you see as the key drivers of this growth?

We believe FY27 EPS growth will be in the low double-digit instead of mid-teens, leading to expectations of earnings normalisation rather than acceleration. Financials and consumption should see better growth next fiscal.

Are you betting on defence stocks, and do you expect strong earnings growth in the sector?

With rising geopolitical risks across the globe, defence is no longer just a theme but a matter of national security. Growth will continue as the Government focuses on indigenisation and higher allocations. We are selectively investing in the sector.

Do you think global factors alone are responsible for the recent sharp depreciation in the rupee?

Global factors are seen as a primary driver of the anticipated depreciation. An uncertain and punitive tariff imposed by the US on India also weakened the INR.

Do you see the possibility of strong private capex over the next few years, and would you consider allocating fresh capital to capital goods?

While the Government has done the heavy lifting for years through massive public spending on infrastructure, the private sector has shown selective signs of picking up, though not yet broad-based. We think strong growth is still some time away, as utilization levels are still hovering at 74-75 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.

BSE and NSE closed on Jan 15 for Maharashtra municipal elections, Sensex fell 245 points, Nifty down 67 points in a volatile session, Indian rupee ended at 90.30 per dollar, its lowest in three weeks

* BSE and NSE closed on Jan 15 for Maharashtra municipal elections
* Sensex fell 245 points, Nifty down 67 points in a volatile session
* Indian rupee ended at 90.30 per dollar, its lowest in three weeks

BSE and NSE will be closed on January 15 for Maharashtra municipal elections. Markets ended lower on January 14 amid sectoral volatility. The rupee fell to a three-week low, pressured by rising commodity prices and foreign fund outflows.

shorts/business/stock-market-holiday-today-bse-nse-to-remain-shut-for-maharashtra-civic-polls

* BSE and NSE closed on Jan 15 for Maharashtra municipal elections
* Sensex fell 245 points, Nifty down 67 points in a volatile session
* Indian rupee ended at 90.30 per dollar, its lowest in three weeks

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on January 15 on account of municipal corporation elections in Maharashtra.

Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives and interest rate derivatives will remain shut for the day on both the BSE and the NSE.

The commodity derivatives segment will also remain closed for morning session, while trading will take place in the evening session.

Trading on the NSE and the BSE will resume on January 16 (Friday).

Indian markets ended lower in a volatile, rangebound session on January 14 as weakness in auto, IT and realty stocks offset strength in metal, PSU banking and oil &amp; gas counters. Investors stayed on the sidelines ahead of the US Supreme Court’s decision on the legality of President Donald Trump’s tariff measures.

At close, the Sensex was down 244.98 points or 0.29 percent at 83,382.71, and the Nifty was down 66.70 points or 0.26 percent at 25,665.60.

Tata Steel, NTPC, ONGC, Axis Bank, Hindalco Industries are among major gainers on the Nifty, while losers are Tata Consumer, TCS, Asian Paints, Maruti Suzuki, HUL.

On the sectoral front, metal, PSU Bank, power, oil &amp; gas index up 0.5-2%, while auto, IT, realty down 0.5-1%.

"The benchmark indices witnessed range-bound activity. The Nifty ended 67 points lower, while the Sensex was down by 245 points. Among sectors, Metal and PSU Bank indices rallied over 2 percent, whereas the IT index lost the most, shedding over 1 percent. Technically, after a muted open, the market registered narrow-range activity. On the lower side, it found support near 25,600/83200, while intraday profit booking was seen near 25,800/83800," said Shrikant Chouhan, Head Equity Research, Kotak Securities.

"We are of the view that the intraday market texture is non-directional; perhaps traders are waiting for either side to breakout. On the higher side, above 25,800/83800, the market could move up to 25,880-25,900/84000-84200. On the flip side, below 25,600/83200, selling pressure is likely to accelerate. If it falls below this level, it could retest the levels of 25,500-25,450/83000-82800," he added.

Indian rupee ended 12 paise lower at 90.30 per dollar on Wednesday versus Tuesday's close of 90.18.

"The Indian rupee has depreciated to its lowest level in three weeks, even as the central bank stepped in to curb volatility. The currency remains under pressure as imported commodity prices climb and domestic equities face headwinds from persistent foreign fund outflows," said Dilip Parmar – Senior Research Analyst, HDFC Securities.

"From a technical perspective, USDINR exhibits a bullish bias with resistance positioned at 90.40. A decisive close below the 89.90 support level would be required to shift this near-term outlook," he said.

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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.

Stock market holiday today: BSE, NSE to remain shut for Maharashtra civic polls

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on January 15 on account of municipal corporation elections in Maharashtra.

Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives and interest rate derivatives will remain shut for the day on both the BSE and the NSE.

The commodity derivatives segment will also remain closed for morning session, while trading will take place in the evening session.

Trading on the NSE and the BSE will resume on January 16 (Friday).

Indian markets ended lower in a volatile, rangebound session on January 14 as weakness in auto, IT and realty stocks offset strength in metal, PSU banking and oil &amp;amp; gas counters. Investors stayed on the sidelines ahead of the US Supreme Court’s decision on the legality of President Donald Trump’s tariff measures.

At close, the Sensex was down 244.98 points or 0.29 percent at 83,382.71, and the Nifty was down 66.70 points or 0.26 percent at 25,665.60.

Tata Steel, NTPC, ONGC, Axis Bank, Hindalco Industries are among major gainers on the Nifty, while losers are Tata Consumer, TCS, Asian Paints, Maruti Suzuki, HUL.

On the sectoral front, metal, PSU Bank, power, oil &amp;amp; gas index up 0.5-2%, while auto, IT, realty down 0.5-1%.

&quot;The benchmark indices witnessed range-bound activity. The Nifty ended 67 points lower, while the Sensex was down by 245 points. Among sectors, Metal and PSU Bank indices rallied over 2 percent, whereas the IT index lost the most, shedding over 1 percent. Technically, after a muted open, the market registered narrow-range activity. On the lower side, it found support near 25,600/83200, while intraday profit booking was seen near 25,800/83800,&quot; said Shrikant Chouhan, Head Equity Research, Kotak Securities.

&quot;We are of the view that the intraday market texture is non-directional; perhaps traders are waiting for either side to breakout. On the higher side, above 25,800/83800, the market could move up to 25,880-25,900/84000-84200. On the flip side, below 25,600/83200, selling pressure is likely to accelerate. If it falls below this level, it could retest the levels of 25,500-25,450/83000-82800,&quot; he added.

Indian rupee ended 12 paise lower at 90.30 per dollar on Wednesday versus Tuesday's close of 90.18.

&quot;The Indian rupee has depreciated to its lowest level in three weeks, even as the central bank stepped in to curb volatility. The currency remains under pressure as imported commodity prices climb and domestic equities face headwinds from persistent foreign fund outflows,&quot; said Dilip Parmar – Senior Research Analyst, HDFC Securities.

&quot;From a technical perspective, USDINR exhibits a bullish bias with resistance positioned at 90.40. A decisive close below the 89.90 support level would be required to shift this near-term outlook,&quot; he said.

&amp;nbsp;

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.

The US Supreme Court is likely to deliver its verdict around 8.30 pm IST on petitions challenging the legality of the trade tariffs imposed by the Donald Trump administration on key trading partners.

The court did not issue a ruling last Friday, January 9, on cases questioning whether the president exceeded his authority while imposing the global tariff measures.

Market participants said Indian equities could see a short-term relief rally if the court strikes down the tariffs, though the longer-term impact is expected to be limited.

Ajit Mishra, senior vice-president (research) at Religare Broking Ltd, said a ruling against the tariffs could ease uncertainty but may not change the broader outlook.

"If the Court strikes down the tariffs as exceeding presidential authority, it could reduce trade policy uncertainty and provide a short-term uplift in risk appetite and FII flows into Indian equities, particularly export-linked and broader cyclicals. However, the longer-term impact may be muted, as the administration retains alternative avenues to impose levies and underlying trade tensions persist, meaning tariff risk isn’t fully eliminated. Select sectors, especially export-oriented midcaps, could see relief, but core earnings and domestic macro drivers will continue to dominate market direction," Mishra said.

On April 2 last year, Trump imposed tariffs ranging between 10-50 percent on most major economies. The move was challenged in court on the grounds that it exceeded presidential authority under existing US laws.

Dr Ravi Singh, chief research officer at Master Capital Services Ltd, said a ruling against the tariffs could improve sentiment but may not lead to a sustained rally.

"The Indian stock market might benefit initially from a ruling against Trump's tariff policies as it would reduce quite a bit of global uncertainty around trade policies. Any move that signals an ease in trade tensions is generally favoured by markets and a decision of this kind could increase global risk appetite and encourage FII inflows. Indian equities, which have been under pressure due to concerns over higher tariffs, export delays and capital outflows, may see a relief rally because of improved sentiment. However, while a rally is possible, it may not automatically translate into a sustained bull run. Investors are still going to keep an eye on global indicators like US interest rate expectations, oil prices, geopolitical risks and domestic earnings growth," Singh said.

The US has already imposed tariffs of up to 50 percent on India, among the highest globally, including a 25 percent levy linked to India’s purchases of Russian energy.

Nitant Darekar, research analyst at Bonanza, said the ruling was unlikely to materially alter market trends.

"Today's US Supreme Court ruling on the legality of President Trump's tariffs — imposed under IEEPA without Congressional approval — offers limited relief for Indian markets. While a decision nullifying these 10–50 percent duties on Indian goods could spark mild sentimental positivity, easing FII outflows and rupee pressure, experts remain skeptical of a sustained rally in Nifty 50. Tariffs align with Trump's core strategy, with alternative legal routes likely. Markets priced in minimal policy shifts beforehand; corporate earnings and global cues dominate. Any short-term bounce may fade without broader trade thaw," Darekar said.

Meanwhile, Trump also said any country "doing business" with Iran would face a 25 percent tariff on all trade with the United States.

"Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25 per cent on any and all business being done with the United States of America. This Order is final and conclusive," Trump said in a post on Truth Social.

Among Iran’s major trading partners are China, Turkey, India, the UAE, Pakistan and Armenia.

The announcement could impact India, which has been among Iran’s five largest trading partners in recent years.

Meanwhile, the equity benchmark indices Sensex and Nifty declined on Wednesday, extending their previous day's losses, due to weakness in IT, consumption, and select banking blue-chip stocks amid escalating geopolitical tensions.

The Sensex dropped 244.98 points, or 0.29 percent to settle at 83,382.71. During the day, it fell 442.49 points or 0.52 percent to 83,185.20. The Nifty declined 66.70 points, or 0.26 percent to 25,665.60.

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.

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.

US Supreme Court likely to rule on legality of Trump tariffs today. Here's how Indian markets could react to the verdict

The US Supreme Court is likely to deliver its verdict around 8.30 pm IST on petitions challenging the legality of the trade tariffs imposed by the Donald Trump administration on key trading partners.

The court did not issue a ruling last Friday, January 9, on cases questioning whether the president exceeded his authority while imposing the global tariff measures.

Market participants said Indian equities could see a short-term relief rally if the court strikes down the tariffs, though the longer-term impact is expected to be limited.

Ajit Mishra, senior vice-president (research) at Religare Broking Ltd, said a ruling against the tariffs could ease uncertainty but may not change the broader outlook.

&quot;If the Court strikes down the tariffs as exceeding presidential authority, it could reduce trade policy uncertainty and provide a short-term uplift in risk appetite and FII flows into Indian equities, particularly export-linked and broader cyclicals. However, the longer-term impact may be muted, as the administration retains alternative avenues to impose levies and underlying trade tensions persist, meaning tariff risk isn’t fully eliminated. Select sectors, especially export-oriented midcaps, could see relief, but core earnings and domestic macro drivers will continue to dominate market direction,&quot; Mishra said.

On April 2 last year, Trump imposed tariffs ranging between 10-50 percent on most major economies. The move was challenged in court on the grounds that it exceeded presidential authority under existing US laws.

Dr Ravi Singh, chief research officer at Master Capital Services Ltd, said a ruling against the tariffs could improve sentiment but may not lead to a sustained rally.

&quot;The Indian stock market might benefit initially from a ruling against Trump's tariff policies as it would reduce quite a bit of global uncertainty around trade policies. Any move that signals an ease in trade tensions is generally favoured by markets and a decision of this kind could increase global risk appetite and encourage FII inflows. Indian equities, which have been under pressure due to concerns over higher tariffs, export delays and capital outflows, may see a relief rally because of improved sentiment. However, while a rally is possible, it may not automatically translate into a sustained bull run. Investors are still going to keep an eye on global indicators like US interest rate expectations, oil prices, geopolitical risks and domestic earnings growth,&quot; Singh said.

The US has already imposed tariffs of up to 50 percent on India, among the highest globally, including a 25 percent levy linked to India’s purchases of Russian energy.

Nitant Darekar, research analyst at Bonanza, said the ruling was unlikely to materially alter market trends.

&quot;Today's US Supreme Court ruling on the legality of President Trump's tariffs — imposed under IEEPA without Congressional approval — offers limited relief for Indian markets. While a decision nullifying these 10–50 percent duties on Indian goods could spark mild sentimental positivity, easing FII outflows and rupee pressure, experts remain skeptical of a sustained rally in Nifty 50. Tariffs align with Trump's core strategy, with alternative legal routes likely. Markets priced in minimal policy shifts beforehand; corporate earnings and global cues dominate. Any short-term bounce may fade without broader trade thaw,&quot; Darekar said.

Meanwhile, Trump also said any country &quot;doing business&quot; with Iran would face a 25 percent tariff on all trade with the United States.

&quot;Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25 per cent on any and all business being done with the United States of America. This Order is final and conclusive,&quot; Trump said in a post on Truth Social.

Among Iran’s major trading partners are China, Turkey, India, the UAE, Pakistan and Armenia.

The announcement could impact India, which has been among Iran’s five largest trading partners in recent years.

Meanwhile, the equity benchmark indices Sensex and Nifty declined on Wednesday, extending their previous day's losses, due to weakness in IT, consumption, and select banking blue-chip stocks amid escalating geopolitical tensions.

The Sensex dropped 244.98 points, or 0.29 percent to settle at 83,382.71. During the day, it fell 442.49 points or 0.52 percent to 83,185.20. The Nifty declined 66.70 points, or 0.26 percent to 25,665.60.

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.

Sensex fell 244.98 points, Nifty down 66.70 points in a volatile session, Metal, PSU Bank, oil & gas sectors gained; auto, IT, realty sectors declined, Market closed on Jan 15 for Maharashtra municipal elections

* Sensex fell 244.98 points, Nifty down 66.70 points in a volatile session
* Metal, PSU Bank, oil & gas sectors gained; auto, IT, realty sectors declined
* Market closed on Jan 15 for Maharashtra municipal elections

Indian markets closed lower on January 14 amid volatility, with Sensex down 245 points and Nifty down 67 points. Losses in auto, IT, and realty stocks offset gains in metals and PSU banks. Over 150 stocks hit 52-week lows; market shut Jan 15.

shorts/business/taking-stock-sensex-slips-245-pts-nifty-below-25-700-amid-volatility-mid-smallcaps-shine

* Sensex fell 244.98 points, Nifty down 66.70 points in a volatile session
* Metal, PSU Bank, oil & gas sectors gained; auto, IT, realty sectors declined
* Market closed on Jan 15 for Maharashtra municipal elections

Indian markets ended lower in a volatile, rangebound session on January 14 as weakness in auto, IT and realty stocks offset strength in metal, PSU banking and oil &amp; gas counters. Investors stayed on the sidelines ahead of the US Supreme Court’s decision on the legality of President Donald Trump’s tariff measures.

At close, the Sensex was down 244.98 points or 0.29 percent at 83,382.71, and the Nifty was down 66.70 points or 0.26 percent at 25,665.60.

Market will remain shut on Thursday, January 15 on account of municipal corporation elections in Maharashtra.

Broader indices outperformed the main indices with BSE Midcap and smallcap indices ended in the green.

Also Read: <a href="https://www.moneycontrol.com/news/business/banks-nbfcs-eye-budget-2026-relief-on-credit-flow-taxes-and-compliance-13772097.html">Banks, NBFCs eye Budget 2026 relief on credit flow, taxes and compliance</a>

Tata Steel, NTPC, ONGC, Axis Bank, Hindalco Industries are among major gainers on the Nifty, while losers are Tata Consumer, TCS, Asian Paints, Maruti Suzuki, HUL.

On the sectoral front, metal, PSU Bank, power, oil &amp; gas index up 0.5-2%, while auto, IT, realty down 0.5-1%

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/budget-2026-markets-eye-8-10-defence-outlay-hike-but-seek-execution-momentum-not-just-allocations-13771771.html">Budget 2026: Markets eye 8-10% defence outlay hike but seek execution momentum, not just allocations</a>

In stocks, Polycab India share price declined 3% after 7.98 lakh shares (0.53% equity) change hands, Puravankara share price added 9% after Q3 collections up 22%, pre-sales rises 17%, Tata Elxsi share price fell 4% as Q3 profit declines 45%, Oswal Pumps share price rose 1% on bagging order of Rs 119.92 crore, Mini Diamonds shares gained 2.5% on domestic order win.

5paisa Capital shares added 3% despite Q3 profit decline, Railtel Corporation of India share price added 4% on order win worth Rs 15.99 crore, Union Bank of India shares gained 8% post Q3 earnings.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/traders-bet-73-odds-the-us-supreme-court-declares-trump-s-tariffs-illegal-13772867.html">Traders bet 73% odds the US Supreme Court declares Trump's tariffs illegal</a>

More than 150 stocks hit 52-week low including C. E. Info Systems, Poly Medicure, Tube Investment, Cohance Life, Godrej Properties, Whirlpool of India, Dixon Technologies, Bata India, IRCTC, Happiest Minds, ITC, Brainbees Solutions, BASF, Maharashtra Seamless, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-low-bse/?indexName=BSE%20500&amp;id=12">Click to View More</a>

Outlook for January 16

Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed range-bound activity. The Nifty ended 67 points lower, while the Sensex was down by 245 points. Among sectors, Metal and PSU Bank indices rallied over 2 percent, whereas the IT index lost the most, shedding over 1 percent. Technically, after a muted open, the market registered narrow-range activity. On the lower side, it found support near 25,600/83200, while intraday profit booking was seen near 25,800/83800.

We are of the view that the intraday market texture is non-directional; perhaps traders are waiting for either side to breakout. On the higher side, above 25,800/83800, the market could move up to 25,880-25,900/84000-84200. On the flip side, below 25,600/83200, selling pressure is likely to accelerate. If it falls below this level, it could retest the levels of 25,500-25,450/83000-82800.

Gaurav Garg, Lemonn Markets Desk

The benchmark indices Sensex and Nifty witnessed sharp intraday volatility on Wednesday as caution prevailed amid sustained foreign fund outflows and global tariff-related concerns. After slipping to early lows, domestic markets pared most of their losses on the back of selective value buying and traded largely flat by mid-afternoon.

The Sensex fell to a low of 83,185.20 before recovering nearly 350 points to trade at 83,505.56, down 0.15 percent, while the Nifty hovered near the 25,700 level at 25,692.30, lower by 0.16 percent. Buying interest emerged in pockets such as metals, oil and gas, and consumer durables, helping limit the downside after recent corrections.

Market sentiment remains fragile, with both indices having declined in six of the last seven sessions amid concerns over US tariff measures, geopolitical tensions and persistent foreign portfolio outflows. FPIs have sold nearly ₹16,600 crore worth of equities so far in January, following heavy outflows in 2025. Additional volatility was driven by the advancement of the weekly derivatives expiry to Wednesday, while positive cues from Asian markets provided some support.

From a technical perspective, the Nifty managed to hold above the 25,620–25,715 support zone. A sustained move above 25,715 could trigger a recovery towards 26,020, while a break below 25,600 may open the downside towards 25,300.

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.

Taking Stock: Sensex slips 245 pts, Nifty below 25,700 amid volatility; mid, smallcaps shine

Indian markets ended lower in a volatile, rangebound session on January 14 as weakness in auto, IT and realty stocks offset strength in metal, PSU banking and oil &amp;amp; gas counters. Investors stayed on the sidelines ahead of the US Supreme Court’s decision on the legality of President Donald Trump’s tariff measures.

At close, the Sensex was down 244.98 points or 0.29 percent at 83,382.71, and the Nifty was down 66.70 points or 0.26 percent at 25,665.60.

Market will remain shut on Thursday, January 15 on account of municipal corporation elections in Maharashtra.

Broader indices outperformed the main indices with BSE Midcap and smallcap indices ended in the green.

Also Read: Banks, NBFCs eye Budget 2026 relief on credit flow, taxes and compliance

Tata Steel, NTPC, ONGC, Axis Bank, Hindalco Industries are among major gainers on the Nifty, while losers are Tata Consumer, TCS, Asian Paints, Maruti Suzuki, HUL.

On the sectoral front, metal, PSU Bank, power, oil &amp;amp; gas index up 0.5-2%, while auto, IT, realty down 0.5-1%

Also Read - Budget 2026: Markets eye 8-10% defence outlay hike but seek execution momentum, not just allocations

In stocks, Polycab India share price declined 3% after 7.98 lakh shares (0.53% equity) change hands, Puravankara share price added 9% after Q3 collections up 22%, pre-sales rises 17%, Tata Elxsi share price fell 4% as Q3 profit declines 45%, Oswal Pumps share price rose 1% on bagging order of Rs 119.92 crore, Mini Diamonds shares gained 2.5% on domestic order win.

5paisa Capital shares added 3% despite Q3 profit decline, Railtel Corporation of India share price added 4% on order win worth Rs 15.99 crore, Union Bank of India shares gained 8% post Q3 earnings.

Also Read - Traders bet 73% odds the US Supreme Court declares Trump's tariffs illegal

More than 150 stocks hit 52-week low including C. E. Info Systems, Poly Medicure, Tube Investment, Cohance Life, Godrej Properties, Whirlpool of India, Dixon Technologies, Bata India, IRCTC, Happiest Minds, ITC, Brainbees Solutions, BASF, Maharashtra Seamless, among others. Click to View More

Outlook for January 16

Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed range-bound activity. The Nifty ended 67 points lower, while the Sensex was down by 245 points. Among sectors, Metal and PSU Bank indices rallied over 2 percent, whereas the IT index lost the most, shedding over 1 percent. Technically, after a muted open, the market registered narrow-range activity. On the lower side, it found support near 25,600/83200, while intraday profit booking was seen near 25,800/83800.

We are of the view that the intraday market texture is non-directional; perhaps traders are waiting for either side to breakout. On the higher side, above 25,800/83800, the market could move up to 25,880-25,900/84000-84200. On the flip side, below 25,600/83200, selling pressure is likely to accelerate. If it falls below this level, it could retest the levels of 25,500-25,450/83000-82800.

Gaurav Garg, Lemonn Markets Desk

The benchmark indices Sensex and Nifty witnessed sharp intraday volatility on Wednesday as caution prevailed amid sustained foreign fund outflows and global tariff-related concerns. After slipping to early lows, domestic markets pared most of their losses on the back of selective value buying and traded largely flat by mid-afternoon.

The Sensex fell to a low of 83,185.20 before recovering nearly 350 points to trade at 83,505.56, down 0.15 percent, while the Nifty hovered near the 25,700 level at 25,692.30, lower by 0.16 percent. Buying interest emerged in pockets such as metals, oil and gas, and consumer durables, helping limit the downside after recent corrections.

Market sentiment remains fragile, with both indices having declined in six of the last seven sessions amid concerns over US tariff measures, geopolitical tensions and persistent foreign portfolio outflows. FPIs have sold nearly ₹16,600 crore worth of equities so far in January, following heavy outflows in 2025. Additional volatility was driven by the advancement of the weekly derivatives expiry to Wednesday, while positive cues from Asian markets provided some support.

From a technical perspective, the Nifty managed to hold above the 25,620–25,715 support zone. A sustained move above 25,715 could trigger a recovery towards 26,020, while a break below 25,600 may open the downside towards 25,300.

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.

Nifty Fails To Hold 25,700 Amid Expiry-Day Volatility; Metals Sparkle| Closing Bell Live

null out of 1 years BSE PSUBNK has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	5,108.02	5,162.87	5,264.06	5,006.83	4,951.98	4,850.79	4,795.94
Fibonacci	5,066.43	5,103.26	5,162.87	5,006.83	4,947.22	4,910.39	4,850.79
Camarilla	5,067.48	5,081.79	5,096.09	5,006.83	5,038.88	5,024.57	5,010.27

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