Axel Polymers

< -5%

-5% to -3%

Gabriel Pet

Tokyo Plast

Bright Brothers

Vinyoflex

Caprihans

Tainwala Chem

Garware HiTech

Tarsons Product

Commercial Syn 

Kama Holdings

Kingfa Science

-3% to 0%

Premier Polyfil

Anka Ind

Kkalpana Ind

Captain Poly

Arrow Greentech

Wim Plast

Kuwer Ind

0% to 3%

CDG PETCHEM

Shaily Engg

3% to 5%

Royal Cushion

Premier and Waaree Energies shares dropped up to 9% after F&O inclusion., Bernstein kept 'Underperform' ratings and downside targets for both stocks., Premier Energies fell 12% in a month, Waaree Energies down 13% since listing.

* Premier and Waaree Energies shares dropped up to 9% after F&O inclusion.
* Bernstein kept 'Underperform' ratings and downside targets for both stocks.
* Premier Energies fell 12% in a month, Waaree Energies down 13% since listing.

Premier Energies and Waaree Energies shares fell up to 9% since their inclusion in the F&O segment on Dec 31. Bernstein maintained an 'Underperform' rating on both, citing further downside potential. Both stocks have seen significant declines since listing.

shorts/business/premier-waaree-energies-shares-fall-up-to-7-down-up-to-9-since-f-o-inclusion

* Premier and Waaree Energies shares dropped up to 9% after F&O inclusion.
* Bernstein kept 'Underperform' ratings and downside targets for both stocks.
* Premier Energies fell 12% in a month, Waaree Energies down 13% since listing.

The shares of Premier Energies and Waaree Energies dropped in trade on January 5. The stocks have fallen up to 9 percent since their inclusion into the futures and options (F&amp;O) segment.

<a href="https://www.moneycontrol.com/india/stockpricequote/electric-equipment/premierenergies/PEL06">Premier Energies</a> shares fell 7.5 percent to trade at Rs 782.40 apiece on Monday, while <a href="https://www.moneycontrol.com/india/stockpricequote/electric-equipment/waareeenergies/WEL01">Waaree Energies</a> shares fell nearly 5 percent to Rs 2,723 apiece. The two stocks have fallen 8 percent and 9 percent respectively since December 31, the day they were included in the F&amp;O segment.
<h3><strong>F&amp;O inclusion:</strong></h3>
Earlier last month, NSE announced the <a href="https://www.moneycontrol.com/news/business/markets/bajaj-holdings-swiggy-among-4-to-join-f-o-list-from-december-31st-13733005.html">introduction of futures and options (F&amp;O) contracts</a> on four individual securities, effective December 31, 2025.

The new additions to the derivatives segment are Bajaj Holdings and Investment, Premier Energies, <a href="https://www.moneycontrol.com/india/stockpricequote/online-services/swiggy/SL24">Swiggy</a>, and Waaree Energies. Inclusion of stocks in F&amp;O is believed to boost their liquidity, visibility, and trading opportunities, allowing investors to hedge portfolios.

HFCL, NCC, Cyient and Titagarh Rail Systems were meanwhile removed from the segment.
<h3><strong>Buy, sell or hold?</strong></h3>
Bernstein on Monday maintained its 'Underperform' rating on both Premier and Waaree Energies. The international brokerage has a target price of Rs 718 apiece for Premier Energies, implying a downside potential of more than 15 percent from the stock’s previous closing price.

For Waaree Energies, Bernstein kept a target price of Rs 2,109 apiece, implying a downside potential of more than 26 percent from the stock’s previous closing price. The stock is down around 13 percent since listing.

Premier Energies shares have fallen 12 percent in the past one month, and over 23 percent in the past six months. The stock has fallen more than 27 percent since listing.

Waaree Energies shares fell over 7 percent in the past five days, and over 6 percent in the past six months.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-strong-start-us-asian-markets-gain-liveblog-13755960.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>

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Premier, Waaree Energies shares fall up to 7%, down up to 9% since F&O inclusion

Premier, Waaree Energies shares tumble up to 7%, down up to 9% since F&O inclusion

The shares of Premier Energies and Waaree Energies dropped in trade on January 5. The stocks have fallen up to 9 percent since their inclusion into the futures and options (F&amp;amp;O) segment.

Premier Energies shares fell 7.5 percent to trade at Rs 782.40 apiece on Monday, while Waaree Energies shares fell nearly 5 percent to Rs 2,723 apiece. The two stocks have fallen 8 percent and 9 percent respectively since December 31, the day they were included in the F&amp;amp;O segment.
F&amp;amp;O inclusion:
Earlier last month, NSE announced the introduction of futures and options (F&amp;amp;O) contracts on four individual securities, effective December 31, 2025.

The new additions to the derivatives segment are Bajaj Holdings and Investment, Premier Energies, Swiggy, and Waaree Energies. Inclusion of stocks in F&amp;amp;O is believed to boost their liquidity, visibility, and trading opportunities, allowing investors to hedge portfolios.

HFCL, NCC, Cyient and Titagarh Rail Systems were meanwhile removed from the segment.
Buy, sell or hold?
Bernstein on Monday maintained its 'Underperform' rating on both Premier and Waaree Energies. The international brokerage has a target price of Rs 718 apiece for Premier Energies, implying a downside potential of more than 15 percent from the stock’s previous closing price.

For Waaree Energies, Bernstein kept a target price of Rs 2,109 apiece, implying a downside potential of more than 26 percent from the stock’s previous closing price. The stock is down around 13 percent since listing.

Premier Energies shares have fallen 12 percent in the past one month, and over 23 percent in the past six months. The stock has fallen more than 27 percent since listing.

Waaree Energies shares fell over 7 percent in the past five days, and over 6 percent in the past six months.

Follow all LIVE updates from the stock markets here.

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.

Premier, Waaree Energies shares fall up to 7%, down up to 9% since F&amp;O inclusion

Indian IT stocks dropped after CLSA's cautious note before Q3 FY26 earnings., CLSA downgraded HCLTech and Tech Mahindra, citing limited near-term upside, Infosys, HCLTech, and Wipro shares dropped over 2 percent each

* Indian IT stocks dropped after CLSA's cautious note before Q3 FY26 earnings.
* CLSA downgraded HCLTech and Tech Mahindra, citing limited near-term upside
* Infosys, HCLTech, and Wipro shares dropped over 2 percent each

Indian IT stocks fell on January 5 after CLSA advised reducing positions due to expected weak Q3 FY26 earnings. Nifty IT index dropped over 1.6%. CLSA downgraded HCLTech and Tech Mahindra, but still favors Persistent Systems, Coforge, Infosys, and Tech Mahindra.

shorts/business/infosys-hcltech-shares-fall-2-as-clsa-says-trim-your-positions-expects-soft-q3-earnings-for-it-sector

* Indian IT stocks dropped after CLSA's cautious note before Q3 FY26 earnings.
* CLSA downgraded HCLTech and Tech Mahindra, citing limited near-term upside
* Infosys, HCLTech, and Wipro shares dropped over 2 percent each

The shares of Indian IT companies dropped in trade on January 5 after CLSA issued a cautious note, advising investors to reduce their positions as the upcoming Q3 FY26 earnings are expected to be soft.

The sharp rise in the share prices pushed the <a href="https://www.moneycontrol.com/indian-indices/nifty-it-19.html">Nifty IT index</a> down more than 1.6 percent to 37,698.95, as seen at 11 am on Monday.
<h3><strong>Here's what CLSA said:</strong></h3>
CLSA in its latest note said that the Nifty IT index has recently outperformed the broader Nifty index, pushing the valuations closer to fair levels and limiting near-term upside, CNBC-TV18 reported.

The international brokerage has downgraded <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/hcltechnologies/HCL02">HCLTech</a> shares to 'Hold' from ‘Outperform’, and cut its rating for Tech Mahindra to 'Outperform' from 'High Conviction Outperform'.

CLSA has also removed <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/techmahindra/TM4">Tech Mahindra</a> from its ‘Focus List’, noting down concerns over the firm’s revenue growth recovery over the past 18 months not being at par with its own estimates or Street expectations.

It added that HCL Technologies is currently trading at around a 5 percent valuation premium, in comparison with peers like TCS and Infosys.

CLSA continues to favour <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/persistentsystems/PS15">Persistent Systems</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/coforge/NII02">Coforge</a> among mid-cap IT stocks, while <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a> and Tech Mahindra remain its preferred picks in the large-cap space.
<h3><strong>IT stocks today:</strong></h3>
Infosys, HCLTech and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/wipro/W">Wipro</a> shares fell more than 2 percent each, while Persistent Systems shares were down around 2 percent. Tech Mahindra and Tata Consultancy Services (<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/tataconsultancyservices/TCS">TCS</a>) shares fell more than 1 percent each, while Mphasis and Coforge shares were trading in the red with marginal losses.

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/ltimindtree/LI12">LTIMindtree </a>shares bucked the trend to trade in the green with marginal gains.

<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>

Infosys, HCLTech shares fall 2% as CLSA says 'trim your positions', expects soft Q3 earnings for IT sector

IT Stocks: Infosys, HCLTech shares fall 2% as CLSA says 'trim your positions', expects soft Q3 earnings for IT sector

The shares of Indian IT companies dropped in trade on January 5 after CLSA issued a cautious note, advising investors to reduce their positions as the upcoming Q3 FY26 earnings are expected to be soft.

The sharp rise in the share prices pushed the Nifty IT index down more than 1.6 percent to 37,698.95, as seen at 11 am on Monday.
Here's what CLSA said:
CLSA in its latest note said that the Nifty IT index has recently outperformed the broader Nifty index, pushing the valuations closer to fair levels and limiting near-term upside, CNBC-TV18 reported.

The international brokerage has downgraded HCLTech shares to 'Hold' from ‘Outperform’, and cut its rating for Tech Mahindra to 'Outperform' from 'High Conviction Outperform'.

CLSA has also removed Tech Mahindra from its ‘Focus List’, noting down concerns over the firm’s revenue growth recovery over the past 18 months not being at par with its own estimates or Street expectations.

It added that HCL Technologies is currently trading at around a 5 percent valuation premium, in comparison with peers like TCS and Infosys.

CLSA continues to favour Persistent Systems and Coforge among mid-cap IT stocks, while Infosys and Tech Mahindra remain its preferred picks in the large-cap space.
IT stocks today:
Infosys, HCLTech and Wipro shares fell more than 2 percent each, while Persistent Systems shares were down around 2 percent. Tech Mahindra and Tata Consultancy Services (TCS) shares fell more than 1 percent each, while Mphasis and Coforge shares were trading in the red with marginal losses.

LTIMindtree shares bucked the trend to trade in the green with marginal gains.

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.

Oil-linked stocks like ONGC and Reliance rose after US raided Venezuela, Reliance hit a 52-week high, market cap nears Rs 22 lakh crore, US takeover of Venezuela may impact global oil prices and supply

* Oil-linked stocks like ONGC and Reliance rose after US raided Venezuela
* Reliance hit a 52-week high, market cap nears Rs 22 lakh crore
* US takeover of Venezuela may impact global oil prices and supply

Shares of oil-linked firms like ONGC and Reliance rose after the US raided Venezuela and captured President Maduro, raising oil price concerns. Analysts say Reliance may benefit from cheaper crude, while ONGC could receive unpaid dividends from Venezuela.

shorts/business/ril-shares-hit-record-high-ongc-jumps-2-after-us-raids-venezuela-here-s-what-analysts-say

* Oil-linked stocks like ONGC and Reliance rose after US raided Venezuela
* Reliance hit a 52-week high, market cap nears Rs 22 lakh crore
* US takeover of Venezuela may impact global oil prices and supply

Shares of oil-linked companies rose on January 5 after the US raided Venezuela, abducting its President Nicolás Maduro and his wife. Analysts said these stocks may benefit from rising tensions.

Oil &amp; Natural Gas Corporation (<a href="https://www.moneycontrol.com/india/stockpricequote/oil-drillingexploration/oilnaturalgascorporation/ONG">ONGC</a>) shares jumped 2 percent in the early trading hours of Monday, rising to Rs 246.80 apiece to emerge as the top Nifty 50 gainers today. Reliance Industries (<a href="https://www.moneycontrol.com/india/stockpricequote/refineries/relianceindustries/RI">RIL</a>) shares meanwhile rose more than 1 percent to hit a fresh 52-week high of Rs 1,611.8 apiece.

The rise in Reliance Industries' stock has pushed the market value of India’s most valuable company closer to the Rs 22 lakh crore mark.
<h3><strong>US raids Venezuela:</strong></h3>
The US carried out operation ‘Absolute Resolve’, carrying out airstrikes on targets across Venezuela and capturing its President and First Lady. This came after months of mounting military and economic pressure.

"We are going to run the country," US President Donald Trump said, adding that he did not want the Maduro system to continue under a replacement leader. He repeated the framing of an interim US-led handover, "We are going to run the country until such time that we can do a safe, proper and judicious transition."

“We are going to run the country right… It’s going to make a lot of money. They stole our oil,” Trump said, adding, “We’ll be selling large amounts of oil to other countries.”
<h3><strong>Oil prices:</strong></h3>
Oil prices inched up on Monday as investors weighed whether political upheaval in OPEC member Venezuela would disrupt shipments after US President Donald Trump seized Venezuelan President Nicolas Maduro, in a well-supplied market.

However, some analysts expect the development to lower oil prices. Jefferies said that the potential US takeover could lift sanctions on Venezuelan crude exports.

Reliance Industries may source crude at $5–8/bbl discount to Brent, boosting gross revenue margins, Jefferies added. It further said that ONGC could receive around $500 million in unpaid dividends from San Cristobal Field.

Listing out the medium-term risk, Jefferies said that revived Venezuelan output may pressure global crude prices.

Follow all <a href="https://www.moneycontrol.com/">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>

<em>Disclaimer: Moneycontrol is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.</em>

RIL shares hit record high, ONGC jumps 2% after US raids Venezuela: Here's what analysts say

RIL share price hit record high, ONGC jumps 2% after US raids Venezuela: Here's what analysts say

Shares of oil-linked companies rose on January 5 after the US raided Venezuela, abducting its President Nicolás Maduro and his wife. Analysts said these stocks may benefit from rising tensions.

Oil &amp;amp; Natural Gas Corporation (ONGC) shares jumped 2 percent in the early trading hours of Monday, rising to Rs 246.80 apiece to emerge as the top Nifty 50 gainers today. Reliance Industries (RIL) shares meanwhile rose more than 1 percent to hit a fresh 52-week high of Rs 1,611.8 apiece.

The rise in Reliance Industries' stock has pushed the market value of India’s most valuable company closer to the Rs 22 lakh crore mark.
US raids Venezuela:
The US carried out operation ‘Absolute Resolve’, carrying out airstrikes on targets across Venezuela and capturing its President and First Lady. This came after months of mounting military and economic pressure.

&quot;We are going to run the country,&quot; US President Donald Trump said, adding that he did not want the Maduro system to continue under a replacement leader. He repeated the framing of an interim US-led handover, &quot;We are going to run the country until such time that we can do a safe, proper and judicious transition.&quot;

“We are going to run the country right… It’s going to make a lot of money. They stole our oil,” Trump said, adding, “We’ll be selling large amounts of oil to other countries.”
Oil prices:
Oil prices inched up on Monday as investors weighed whether political upheaval in OPEC member Venezuela would disrupt shipments after US President Donald Trump seized Venezuelan President Nicolas Maduro, in a well-supplied market.

However, some analysts expect the development to lower oil prices. Jefferies said that the potential US takeover could lift sanctions on Venezuelan crude exports.

Reliance Industries may source crude at $5–8/bbl discount to Brent, boosting gross revenue margins, Jefferies added. It further said that ONGC could receive around $500 million in unpaid dividends from San Cristobal Field.

Listing out the medium-term risk, Jefferies said that revived Venezuelan output may pressure global crude prices.

Follow all LIVE updates from the stock markets here.

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.

Disclaimer: Moneycontrol is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Defense stocks surged after US raided Venezuela, capturing its President and First Lady., Nifty India Defence index rose nearly 2 percent to its highest in over a month, BEL, HAL, and Paras Defence shares rose significantly.

* Defense stocks surged after US raided Venezuela, capturing its President and First Lady.
* Nifty India Defence index rose nearly 2 percent to its highest in over a month
* BEL, HAL, and Paras Defence shares rose significantly.

Indian defence stocks surged, pushing the Nifty India Defence index up nearly 2%, after the US raided Venezuela and captured President Nicolás Maduro. Shares of BEL, Mtar Technologies, Paras Defence, and others saw significant gains amid rising geopolitical tensions.

shorts/business/defence-stocks-soar-after-us-raids-venezuela-bel-paras-defence-hal-jumps-up-to-5

* Defense stocks surged after US raided Venezuela, capturing its President and First Lady.
* Nifty India Defence index rose nearly 2 percent to its highest in over a month
* BEL, HAL, and Paras Defence shares rose significantly.

The shares of defence companies jumped in trade on January 5 amid heightened geopolitical tensions after US raided Venezuela, abducting its President Nicolás Maduro and his wife.

The sharp rise in the share prices pushed the <a href="https://www.moneycontrol.com/indian-indices/nifty-india-defence-139.html">Nifty India Defence</a> index up nearly 2 percent to 7,931.35, as seen at 10 am. This is the highest level seen by the index in more than a month.
<h3><strong>US raids Venezuela:</strong></h3>
The United States carried out operation 'Absolute Resolve', carrying out airstrikes on targets across Venezuela and capturing its President and First Lady. This came after months of mounting military and economic pressure.

US President Donald Trump said, "We are going to run the country," adding that he did not want the Maduro system to continue under a replacement leader. He repeated the framing of an interim US-led handover, "We are going to run the country until such time that we can do a safe, proper and judicious transition."

“We are going to run the country right… It’s going to make a lot of money. They stole our oil,” Trump said, adding, “We’ll be selling large amounts of oil to other countries.”
<h3><strong>Defence stocks:</strong></h3>
Defence stocks jumped possibly due to expectations of sustained tensions after the development. Mtar Technologies shares jumped more than 5 percent to trade at Rs 2,497 apiece. <a href="https://www.moneycontrol.com/india/stockpricequote/defence/parasdefencespacetechnologies/PDS01">Paras Defence</a> shares followed, rising more than 3 percent each.

<a href="https://www.moneycontrol.com/india/stockpricequote/aerospacedefence/bharatelectronics/BE03">Bharat Electronics</a> (BEL) shares gained nearly 3 percent, emerging as the top gainer on Indian benchmark indices Sensex and Nifty 50. BEML, Astra Microwave Products, <a href="https://www.moneycontrol.com/india/stockpricequote/aerospacedefence/hindustanaeronautics/HAL">Hindustan Aeronautics</a> (HAL), <a href="https://www.moneycontrol.com/india/stockpricequote/aerospacedefence/bharatdynamics/BDL01">Bharat Dynamics</a> (BDL), Data Patterns India and Solar Industries shares rose more than 2 percent each.

<a href="https://www.moneycontrol.com/india/stockpricequote/ship-building/cochinshipyard/CS">Cochin Shipyard</a> and Garden Reach Shipbuilders &amp; Engineers (GRSE) shares gained around 2 percent each, while Zen Technologies and Mazagon Dock Shipbuilders gained over 1 percent each.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-strong-start-us-asian-markets-gain-liveblog-13755960.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>

Defence stocks soar after US raids Venezuela; BEL, Paras Defence, HAL jumps up to 5%

The shares of defence companies jumped in trade on January 5 amid heightened geopolitical tensions after US raided Venezuela, abducting its President Nicolás Maduro and his wife.

The sharp rise in the share prices pushed the Nifty India Defence index up nearly 2 percent to 7,931.35, as seen at 10 am. This is the highest level seen by the index in more than a month.
US raids Venezuela:
The United States carried out operation 'Absolute Resolve', carrying out airstrikes on targets across Venezuela and capturing its President and First Lady. This came after months of mounting military and economic pressure.

US President Donald Trump said, &quot;We are going to run the country,&quot; adding that he did not want the Maduro system to continue under a replacement leader. He repeated the framing of an interim US-led handover, &quot;We are going to run the country until such time that we can do a safe, proper and judicious transition.&quot;

“We are going to run the country right… It’s going to make a lot of money. They stole our oil,” Trump said, adding, “We’ll be selling large amounts of oil to other countries.”
Defence stocks:
Defence stocks jumped possibly due to expectations of sustained tensions after the development. Mtar Technologies shares jumped more than 5 percent to trade at Rs 2,497 apiece. Paras Defence shares followed, rising more than 3 percent each.

Bharat Electronics (BEL) shares gained nearly 3 percent, emerging as the top gainer on Indian benchmark indices Sensex and Nifty 50. BEML, Astra Microwave Products, Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Data Patterns India and Solar Industries shares rose more than 2 percent each.

Cochin Shipyard and Garden Reach Shipbuilders &amp;amp; Engineers (GRSE) shares gained around 2 percent each, while Zen Technologies and Mazagon Dock Shipbuilders gained over 1 percent each.

Follow all LIVE updates from the stock markets here.

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.

Sector rotation saw 2024 laggards like metals and banks lead gains in 2025, Realty, IT, and SME IPOs dropped sharply after strong 2024 rallies., Analysts expect fundamentals to drive market trends into early 2026

* Sector rotation saw 2024 laggards like metals and banks lead gains in 2025
* Realty, IT, and SME IPOs dropped sharply after strong 2024 rallies.
* Analysts expect fundamentals to drive market trends into early 2026

A sharp sector rotation in Indian equities saw 2024 laggards like Maruti, Hindalco, and SBI Life surge in 2025, while last year’s leaders fell. Analysts say fundamentals drive gains, with cyclical sectors outperforming and no immediate reversal expected in 2026.

shorts/business/will-sector-rotation-repeat-this-year-turning-2025-s-losers-into-2026-s-winners

* Sector rotation saw 2024 laggards like metals and banks lead gains in 2025
* Realty, IT, and SME IPOs dropped sharply after strong 2024 rallies.
* Analysts expect fundamentals to drive market trends into early 2026

A sharp sector rotation has reshaped the Indian equity market this year, with several indices that lagged in 2024 emerging as frontrunners in 2025, while many of last year’s leaders have slipped down the rankings. The shift has drawn attention to whether the trend can sustain — and whether 2025’s underperformers could become 2026’s winnerss, and vice versa, if past patterns repeat. Historically, such reversals — where laggards become leaders and former outperformers slow — were more common. In the post-Covid phase, however, they have appeared less frequent as a broad rally lifted multiple segments together.

The 2025 saw Maruti Suzuki India, Hindalco Industries and SBI Life Insurance among the biggest gainers in bluechip stocks, each rising more than 50 percent after giving muted returns in 2024. Maruti had climbed just 5 percent in 2024, while Hindalco and SBI Life Insurance had fallen more than 2 percent each. The trend extended to the Bajaj group, where Bajaj Finance and Bajaj Finserv declined around 7 percent in 2024 but surged 44 percent and 30 percent, respectively, in 2025. Within the Tata group, Tata Consumer, Tata Steel and Titan, all weak performers last year, have emerged as notable winners this year.

On the losing side, stocks such as Trent and HCL Tech — strong gainers in 2024 — have reversed course, falling 40 percent and 15 percent in 2025. Power Grid, Infosys and Wipro have slipped between 12 percent and 15 percent this year after recording gains of 20 percent to 30 percent in 2024.

<img class="alignnone size-full wp-image-13756124" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260105030706_Nifty-Leaders.jpg" alt="Nifty Leaders" width="1944" height="4456" />

Deven Choksey, Managing Director at DRChoksey FinServ, said the current market phase reflects a natural rotation, where stocks that outperformed last year may give way to others this year. He noted that many of the names now performing strongly are supported by fundamental strength, which has driven their gains.

Looking ahead to 2026, Choksey said the outlook remains positive, with companies that display clear differentiators likely to deliver better performance. He added that the market’s trajectory will continue to be guided primarily by fundamentals, even as technicals and fundamentals often work in tandem.

Sectoral data reflects the same rotation. The BSE Metal Index has been the standout with gains of 27 percent in 2025, compared with a modest 7 percent rise in 2024. The BSE Private Bank Index, which declined 0.3 percent last year, is up 17.2 percent, while the Bankex has advanced 15.6 percent after a 6.2 percent increase in 2024. At the other end, several of last year’s leaders have cooled. The BSE Realty Index, up 33 percent in 2024, has fallen 17 percent in 2025. The BSE SME IPO Index — the strongest performer in 2024 with a 147.2 percent jump — is down 16.5 percent, while the BSE IT Index, which gained 20 percent last year, has declined 15 percent. Consumer durables, which had slipped 7 percent in 2025, have recovered to gain nearly 29 percent.

Broader market segments have also moderated. The BSE Midcap Index, after rising 26.1 percent in 2024, has edged up just 1.1 percent this year, while the BSE Smallcap Index has fallen 6.6 percent following a 29.3 percent rally. Other sectors including power, utilities, teck, infrastructure, IPOs and healthcare — among the strongest gainers in 2024 — have cooled in 2025.

<img class="alignnone size-full wp-image-13756125" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260105030738_Sectoral-Leaders.jpg" alt="Sectoral Leaders" width="1944" height="3156" />

According to independent research analyst Deepak Jasani, cyclical sectors have been the best performers in 2025, with the exception of realty. Defensives had outperformed in 2024 alongside strong foreign portfolio inflows, but as those flows reversed, attention shifted toward low price-to-earnings cyclical sectors influenced by global drivers such as metal and oil prices, as well as local factors including GST or income-tax changes and interest-rate moves.

He noted that earnings visibility in these sectors has improved, even though structural shifts remain limited and the duration of upcycles varies by industry. SME and small-cap indices, he added, were hurt by overvaluation in 2025 and may take time to stabilize. Reviewing sector reversals, he pointed to the importance of valuations, sentiment, flows and fundamental triggers — and said the conditions of 2025 may continue into early 2026, with no immediate sectoral reversal expected.

<em>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.</em>

Will sector rotation repeat this year, turning 2025’s losers into 2026’s winners?

A sharp sector rotation has reshaped the Indian equity market this year, with several indices that lagged in 2024 emerging as frontrunners in 2025, while many of last year’s leaders have slipped down the rankings. The shift has drawn attention to whether the trend can sustain — and whether 2025’s underperformers could become 2026’s winnerss, and vice versa, if past patterns repeat. Historically, such reversals — where laggards become leaders and former outperformers slow — were more common. In the post-Covid phase, however, they have appeared less frequent as a broad rally lifted multiple segments together.

The 2025 saw Maruti Suzuki India, Hindalco Industries and SBI Life Insurance among the biggest gainers in bluechip stocks, each rising more than 50 percent after giving muted returns in 2024. Maruti had climbed just 5 percent in 2024, while Hindalco and SBI Life Insurance had fallen more than 2 percent each. The trend extended to the Bajaj group, where Bajaj Finance and Bajaj Finserv declined around 7 percent in 2024 but surged 44 percent and 30 percent, respectively, in 2025. Within the Tata group, Tata Consumer, Tata Steel and Titan, all weak performers last year, have emerged as notable winners this year.

On the losing side, stocks such as Trent and HCL Tech — strong gainers in 2024 — have reversed course, falling 40 percent and 15 percent in 2025. Power Grid, Infosys and Wipro have slipped between 12 percent and 15 percent this year after recording gains of 20 percent to 30 percent in 2024.



Deven Choksey, Managing Director at DRChoksey FinServ, said the current market phase reflects a natural rotation, where stocks that outperformed last year may give way to others this year. He noted that many of the names now performing strongly are supported by fundamental strength, which has driven their gains.

Looking ahead to 2026, Choksey said the outlook remains positive, with companies that display clear differentiators likely to deliver better performance. He added that the market’s trajectory will continue to be guided primarily by fundamentals, even as technicals and fundamentals often work in tandem.

Sectoral data reflects the same rotation. The BSE Metal Index has been the standout with gains of 27 percent in 2025, compared with a modest 7 percent rise in 2024. The BSE Private Bank Index, which declined 0.3 percent last year, is up 17.2 percent, while the Bankex has advanced 15.6 percent after a 6.2 percent increase in 2024. At the other end, several of last year’s leaders have cooled. The BSE Realty Index, up 33 percent in 2024, has fallen 17 percent in 2025. The BSE SME IPO Index — the strongest performer in 2024 with a 147.2 percent jump — is down 16.5 percent, while the BSE IT Index, which gained 20 percent last year, has declined 15 percent. Consumer durables, which had slipped 7 percent in 2025, have recovered to gain nearly 29 percent.

Broader market segments have also moderated. The BSE Midcap Index, after rising 26.1 percent in 2024, has edged up just 1.1 percent this year, while the BSE Smallcap Index has fallen 6.6 percent following a 29.3 percent rally. Other sectors including power, utilities, teck, infrastructure, IPOs and healthcare — among the strongest gainers in 2024 — have cooled in 2025.



According to independent research analyst Deepak Jasani, cyclical sectors have been the best performers in 2025, with the exception of realty. Defensives had outperformed in 2024 alongside strong foreign portfolio inflows, but as those flows reversed, attention shifted toward low price-to-earnings cyclical sectors influenced by global drivers such as metal and oil prices, as well as local factors including GST or income-tax changes and interest-rate moves.

He noted that earnings visibility in these sectors has improved, even though structural shifts remain limited and the duration of upcycles varies by industry. SME and small-cap indices, he added, were hurt by overvaluation in 2025 and may take time to stabilize. Reviewing sector reversals, he pointed to the importance of valuations, sentiment, flows and fundamental triggers — and said the conditions of 2025 may continue into early 2026, with no immediate sectoral reversal expected.

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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Will sector rotation repeat this year, turning 2025’s losers into 2026’s winners?

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Premier, Waaree Energies shares fall up to 7%, down up to 9% since F&O inclusion