Closing Bell: Markets slide for fourth straight session; Nifty below 25,900, Sensex slips 780 pts

Indian equity markets ended on a weak note on January 8 with Nifty below 25,900. At close, the Sensex was down 780.18 points or 0.92 percent at 84,180.96, and the Nifty was down 263.90 points or 1.01 percent at 25,876.85.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Today, the benchmark indices corrected sharply. The Nifty ended 264 points lower, while the Sensex was down by 780 points. Among sectors, all the major sectoral indices traded in the red, but the Metal Index lost the most, shed 3.45 percent. Technically, the market breached the 20-day SMA (Simple Moving Average) support zone, and post-breakdown, selling pressure intensified. On daily charts, it has formed a long bearish candle, indicating further weakness from the current levels.

We are of the view that as long as the market is trading below 26,000/84500, weak sentiment is likely to continue on the downside, and the market could slip till 25,750-25,700/84000-83700. On the flip side, if it moves above 26,000/84500, the pullback could continue till 26,075-26,100/84800-85000.

Markets ended Thursday’s session on a weaker note as selling pressure intensified, largely in response to feeble global cues. The Nifty opened lower and remained under pressure throughout the session, eventually settling near the day’s low at 25,876.85, down by nearly 1%. Sectoral performance was broadly negative, with metals, energy and IT stocks witnessing significant selling pressure. The broader markets also came under sharp pressure, with both midcap and smallcap indices declining by around 2% each, highlighting broad-based weakness and a cautious stance among participants.

Market sentiment deteriorated amid heightened geopolitical tensions and global trade-related concerns, which weighed on overall risk appetite. Continued foreign institutional selling, coupled with weakness in the rupee, further added to the negative bias. With global cues remaining mixed and the earnings season approaching, trading activity remained cautious and largely stock-specific.

Technically, the Nifty has breached the lower band of its rising channel and retested the crucial support zone around the previous swing low near 25,880. Sustained trading below this level could disrupt the prevailing uptrend and potentially drag the index towards the 25,600–25,700 zone. On the upside, the earlier support in the form of the short-term 20-day DEMA, placed around 26,050, is likely to act as an immediate hurdle, followed by a stronger resistance near 26,300. Participants are advised to maintain strict risk management in existing short-term positions amid heightened volatility and wait for clearer directional cues.

After showing a gradual weakness amidst range bound movement in the last few sessions, Nifty witnessed sharp fall on Thursday and closed the day with deep cut of 263 points. After opening on a weak note, Nifty continued with weakness for better part of the session. Minor intraday recovery of later part has failed to sustain and Nifty closed at the lows towards the end.

A long bear candle was formed on the daily chart, that has moved below the immediate supports of around 26100-26000 levels (previous swing lows and ascending trend line). This is not a good sign and signals more weakness in the short term.

The short-term trend of Nifty is weak. A decisive breakdown of the supports indicates a short-term reversal of trend on the downside. Next crucial lower supports to be watched around 25700. Immediate resistance is placed at 26000.

Once again, the market opened on a negative note, and unlike the previous few sessions, the sell-off intensified as the day progressed. Nifty eventually ended with a sharp cut of around 1%, closing tad below the 25900 mark.

Nifty slipped for the fourth consecutive session, thereby erasing all the gains made in the previous week. The bullish Symmetrical Triangle breakout witnessed last Friday now stands negated, as prices slipped below last week’s low. Additionally, the index has seen a bearish breakdown from the rising trendline connecting the higher bottoms of November and December, along with a close below the 50-DEMA, which had acted as a strong support over the past couple of months.

The coming session will be crucial, as sustained trading below the 25900 level could open the door for further downside in the week ahead. The next key support is placed around 25700, which marks the December swing low and coincides with the 89-DEMA, followed by 25500, a key retracement level.

On the upside, the 26000–26100 zone, coinciding with the 20-DEMA, is seen as immediate resistance, and unless the index regains this zone, the market may continue to remain under pressure. Amid ongoing geopolitical tensions and fresh tariff-related concerns, a broad-based sell-off was witnessed in the midcap space, which had earlier marked its highest close on Wednesday and was showing strong momentum until then. Volatility is likely to remain elevated in the near term, and traders are advised to avoid aggressive positions until there is better stability and clarity on global cues.

Indian markets ended on a negative note on January 8, 2026, with the Sensex slipping 0.91% to 84,180.96 and Nifty fell 1% to 25,876.85 amid geopolitical tensions, new Russian Oil related sanctions and metal prices dropping.

The pessimism on the geopolitical front following US’s talks over Greenland and China and Japan’s tussle has made investors cautious. Along with this, a potential 500% tariff over India by US due to purchasing oil from Russia has created a panic amongst FIIs who are net sellers since the beginning of the year.

Talking about sectors, all Nifty sectoral indices closed on a negative note with Metals, Oil & Gas sectors being top losers today. The metal sector saw some profit booking today due to fall in the prices of metals. Silver fell ~5% while Copper, Nickel and Aluminum dropped ~2% today.

Since the price of these metals affects the topline directly, all 15 stocks in the Nifty Metal index dropped with stocks like Hindustan Zinc (Hindzinc), Jindal Stainless Steel (JSL) and Jindal Steel (JindalStel) all dropping ~6% today.

The benchmark index Nifty witnessed a sharp sell-off on Thursday, tumbling 1% to close below the 25900 mark. This decline was significant as the index broke down from its rising channel on the daily chart, signalling a shift in short-term momentum. Most notably, Nifty ended below its 50-day EMA for the first time since early October-a level that had previously acted as a strong support on three separate occasions. Adding to the bearish undertone, the daily RSI also slipped below its rising channel, reinforcing the weakness in momentum indicators.

Market breadth was heavily skewed toward declines, with 45 out of Nifty’s constituents ending in the red. Hindalco and Wipro emerged as the top losers, while Eternal and SBI Life managed to buck the trend and close higher. Sectoral performance was uniformly negative, with all indices ending in the red. Nifty Metal, Nifty Oil & Gas, and Nifty PSU Bank were among the worst hit, reflecting broad-based selling pressure.

The pain was even more pronounced in the broader markets. Nifty Midcap 100 and Nifty Smallcap 100 underperformed sharply, falling nearly 2% respectively. The Midcap index slipped below its 20-day EMA, while the Smallcap index breached all its key moving averages—a clear sign of deteriorating sentiment in the broader space. The advance-decline ratio further highlighted the weakness, with 425 stocks from the Nifty 500 universe closing in negative territory.

Nifty View

Going ahead, for Nifty, the zone of 25750-25700 will act as important support. Any sustainable move below 25700 will lead to further correction up to the 25550 level. While, on the upside, the zone 26000-26030 will act as an immediate hurdle for the index.

Bank Nifty View

The banking benchmark index, Bank Nifty, ended Thursday’s session on a negative note but continued to outperform the frontline indices, slipping a modest 0.51% compared to the sharper decline in Nifty. Despite the correction, the index remains comfortably above its key moving averages, signalling that the broader trend is still intact. Momentum indicators, however, point toward a phase of consolidation, suggesting sideways movement in the near term.

Looking ahead, the zone of 59400–59300 will act as immediate support for the index. As long as Bank Nifty holds above 59400, the bullish structure remains valid. On the upside, the 59900–60000 band will serve as a crucial hurdle.

The Nifty has slipped below its rising trendline, clearly indicating a sudden increase in bearish bets. Additionally, the index has moved below 26,000, which had been acting as a psychological support. More importantly, the Nifty has closed below the 50 EMA for the first time in three months, signifying a bearish shift in the trend.

A rising India VIX is also pointing to increased panic among market participants. Overall, the setup looks uncomfortable for the bulls. Selling pressure is likely to persist in the near term unless the Nifty moves back above 26,000. On the downside, the index might fall down towards 25,700 and 25,550.

Domestic markets extended losses as sentiment turned cautious amid renewed concerns over US tariffs and persistent FII outflows, overshadowing optimism around earnings growth. Broad-based selling was led by metals, oil & gas, and IT stocks. Metal shares declined on profit booking following a retreat in global prices, while oil & gas stocks fell on worries over the Venezuela–US crisis.

Meanwhile, India’s first advance FY26 GDP estimate signals robust growth, driven by a manufacturing rebound and resilient services, offering some optimism despite external headwinds. In the near term, markets are expected to remain cautious and trade range-bound, influenced by Q3 earnings and developments on US tariffs.

We believe Bharat Coking Coal Ltd (BCCL) IPO offers investors exposure to a strategically critical asset with a dominant position in India’s coking coal value chain. Its large reserve base in the Jharia coalfields, leadership in coking coal washery capacity, and strong logistics infrastructure create durable cost advantages and high entry barriers. Supported by Coal India’s technical and financial backing, BCCL is well placed to benefit from structural demand tailwinds and India’s import substitution agenda.

While FY2025 and 6MFY2026 performance was impacted by temporary operational disruptions and adverse weather, we view these headwinds as transitory. With washery expansion, asset monetisation initiatives, and normalization of mining activity, we expect a recovery in volumes and earnings from FY2027, providing long-term visibility and value creation for investors.

On valuation parse at the upper price band of Rs. 23/-, the issue is asking for a market cap of Rs. 10711.1 crore. Considering the FY2025–26 performance and assuming normalization of earnings going forward, the company’s valuation appears reasonable and attractive. Investors should also look at IPO offers, which come with 100% OFS i.e. Rs. 1068.78 crore issue that is an area of concern for new investors.

A lower-priced IPO of Bharat Coking Coal (BCCL) would naturally generate strong investor interest as it offers a rare opportunity to own a high-quality, cash-generative PSU coal asset at an attractive valuation, backed by long-term demand from the steel sector. We expect the IPO could see robust subscription from both institutional and retail investors, driven by steady cash flows, high entry barriers, and the scarcity value of coking coal assets in India. Hence, we recommend investors to ‘subscribe’ BCCL for healthy listing gains.

Indian rupee ended 14 paise lower at 90.02 per dollar on Thursday versus Wednesday's close of 89.88.

Indian equity markets ended on a weak note on January 8 with Nifty below 25,900.

At close, the Sensex was down 780.18 points or 0.92 percent at 84,180.96, and the Nifty was down 263.90 points or 1.01 percent at 25,876.85. About 974 shares advanced, 2870 shares declined, and 137 shares unchanged.

All the sectoral indices ended lower with metal, oil & gas power, PSU Bank, capital goods shed 2-3 percent.

Biggest Nifty losers were Hindalco Industries, ONGC, Jio Financial, Wipro, Tech Mahindra, while gainers included ICICI Bank, Eternal, SBI Life Insurance, Bharat Electronics.

BSE Midcap and smallcap indices fell 2% each.

Alkem Laboratories announced the launch of Renocia cyclical therapy kit, a scientifically-designed weekly nutritional supplementation regimen to support hair growth, strengthen hair follicles and manage hair loss. The supplements in the kit are made using only vegetarian-sourced ingredients.

Alkem Laboratories was quoting at Rs 5,797.45, up Rs 7.15, or 0.12 percent.

It has touched an intraday high of Rs 5,839.40 and an intraday low of Rs 5,761.80.

It was trading with volumes of 1,716 shares, compared to its five day average of 15,501 shares, a decrease of -88.93 percent.

The Government has demonstrated a clear and consistent commitment through its National Action Plan for Toys, reinforcing confidence within the industry. The 2025 Budget further strengthened this momentum — bringing renewed optimism with its focused thrust on transforming India into a global hub for high-quality, self-sufficient toy manufacturing. The recent reports of a proposed incentive program with an estimated outlay of Rs 13,000 crore (approximately USD 1.5 billion) under a potential Production Linked Incentive (PLI) scheme further underscore a strong policy commitment to the sector’s growth.

We are eagerly awaiting further developments in the upcoming Union Budget — whether through the PLI scheme or other targeted manufacturing incentives — as such initiatives will play a pivotal role in fostering toy manufacturing clusters, enhancing workforce skills, and building a sustainable ecosystem for producing globally competitive toys that truly embody the spirit of the ‘Made in India’ brand.

Bharat Heavy Electricals was quoting at Rs 287.60, down Rs 16.10, or 5.30 percent.

It has touched an intraday high of Rs 303.75 and an intraday low of Rs 287.05.

It was trading with volumes of 654,516 shares, compared to its five day average of 756,082 shares, a decrease of -13.43 percent.

In the previous trading session, the share closed up 2.27 percent or Rs 6.75 at Rs 303.70.

The share touched a 52-week high of Rs 305.85 and a 52-week low of Rs 176.00 on 07 January, 2026 and 03 March, 2025, respectively.

Currently, the stock is trading 5.97 percent below its 52-week high and 63.41 percent above its 52-week low.

Market capitalisation stands at Rs 100,144.14 crore.

J. K. Cement was quoting at Rs 5,956.00, down Rs 14.55, or 0.24 percent.

It has touched an intraday high of Rs 5,968.80 and an intraday low of Rs 5,800.00.

It was trading with volumes of 3,887 shares, compared to its five day average of 13,890 shares, a decrease of -72.02 percent.

In the previous trading session, the share closed up 3.96 percent or Rs 227.30 at Rs 5,970.55.

The share touched a 52-week high of Rs 7,565.00 and a 52-week low of Rs 4,225.00 on 20 August, 2025 and 17 March, 2025, respectively.

Currently, the stock is trading 21.27 percent below its 52-week high and 40.97 percent above its 52-week low.

Market capitalisation stands at Rs 46,020.97 crore.

The Sensex was down 722.18 points or 0.85 percent at 84,238.96, and the Nifty was down 233.55 points or 0.94 percent at 25,894. About 955 shares advanced, 2866 shares declined, and 138 shares unchanged.

#1 1HCY26 likely weak for companies with gRevlimid exposure like DRL, Cipla, Zydus

#2 Competition intensifies from February, pressuring margin

#3 Domestic-focussed pharma players such as Torrent, Mankind, Ajanta & Alkem expected to deliver stable growth

#4 Section 232 ruling on US Pharma imports expected in Q1CY26

#5 Section 232 ruling outcome could materially impact export-oriented companies

#6 Top picks: Mankind Pharma, Ajanta Pharma, Sun Pharma & Zydus, based on earnings visibility & portfolio strength

Entero Healthcare Solutions was quoting at Rs 1,156.70, down Rs 16.65, or 1.42 percent.

Transformers & Rectifiers India Ltd reported a strong set of numbers for the October-December quarter, with consolidated net profit rising 34.5 percent year-on-year to Rs 74 crore, compared with Rs 35 crore a year ago. Revenue grew 32 percent to Rs 737 crore from Rs 559 crore, while EBITDA climbed 49 percent to Rs 125 crore from Rs 84 crore, lifting operating margins to 17 percent from 15 percent in the year-ago period. Separately, the company said Mukul Srivastava has resigned as chief executive officer with effect from January 7. The board has appointed Satyen J Mamtora as managing director and CEO of the company.

Select midcap stocks edged higher even as broader market sentiment remained cautious. IDFC First Bank led the Nifty Midcap 100 gainers, rising a little over 2 percent on strong volumes. Dixon Technologies followed with gains of about 1.4 percent, while Oberoi Realty and Solar Industries India added around 1-1.2 percent each. High-volume names such as Vodafone Idea traded modestly higher, up nearly 1 percent, alongside Indus Towers. Stocks like Bharat Dynamics, IRB Infrastructure Developers, Escorts Kubota and Tube Investments of India also featured among the gainers, though advances were largely limited to under 0.5 percent.

Buying interest was selective among largecaps even as the broader market remained under pressure. Solar Industries India led the Nifty 100 gainers, rising about 1.25 percent, followed by CG Power and Industrial Solutions (up around 1.1 percent). Eternal and Bharat Electronics gained close to 1 percent each, while ICICI Bank added nearly 0.7 percent. Other index heavyweights such as SBI Life Insurance, HCL Technologies, Bajaj Holdings & Investment, Adani Ports and Special Economic Zone and Bajaj Finance also traded marginally higher, with gains largely capped in the 0.2–0.7 percent range.

Selling pressure intensified across sectoral indices, with cyclicals and rate-sensitive pockets bearing the brunt. The Nifty Metal index slumped over 3 percent, while Nifty IT, Nifty Energy and Nifty PSU Bank fell 2-2.1 percent each. Realty dropped nearly 1.7 percent and infrastructure slipped about 1.5 percent, underscoring broad-based weakness. FMCG and pharma also traded lower, down close to 1 percent each, leaving no major sector unscathed as risk aversion dominated trade.

Benchmark indices remained under pressure in afternoon trade, with the Nifty 50 down 0.8 percent at 25,930.50 and the Sensex also trading firmly in the red. Broader markets continued to bear the brunt of selling, with the Nifty Midcap 100 sliding 1.7 percent and the Nifty Smallcap 100 down nearly 1.8 percent. Bank Nifty was relatively resilient, easing just 0.4 percent, even as weakness persisted across most segments of the market.

ICICI Bank emerged as the biggest positive contributor to the Nifty, adding nearly 1,000 points to the index’s movement, followed by Bharat Electronics and Adani Ports. SBI Life, Bajaj Finance and HCL Tech also lent support. On the downside, Cipla, Hindustan Unilever and Shriram Finance weighed modestly on the index, partially offsetting the gains.

Several frontline stocks trimmed losses from intraday lows in afternoon trade. Eternal, Shriram Finance and HUL led the rebound, recovering about 1.2–1.8 percent from their day’s lows. M&M, HCL Tech and Adani Enterprises were up around 1 percent from intraday bottoms, while Apollo Hospitals, Tata Steel, Bajaj Finserv and ICICI Bank also clawed back roughly 0.8–0.9 percent each.

Indian rupee erased all the opening gains and trading lower at 90.03 per dollar versus previous close of 89.88.

The Board of Directors will meet on January 15 to consider a proposal for the alteration of the company’s share capital through the sub-division/split of existing equity shares with a face value of Rs 10 each, fully paid up.

The Board will also consider the declaration of the first interim dividend for the financial year 2025–26 on the same date.

The Sensex was down 570.50 points or 0.67 percent at 84,390.64, and the Nifty was down 0.80 percent at 25,932.85. About 907 shares advanced, 2854 shares declined, and 155 shares unchanged.

The board of directors of Navneet Education (NEL) at its meeting held today accorded its approval to the composite scheme of arrangement for demerger of publishing business of lndiannica Learning (ILPL) (wholly-owned subsidiary of NEL) into NEL, and reduction of equity share capital, preference share capital and securities premium of ILPL.

The company has executed an Agreement to Sell with Canopy Living LLP, a joint venture between Arihant Foundations & Housing Limited and Prestige Estates Projects Limited, for sale of company’s land admeasuring 16.381 acres situated at Korattur Village, Ambattur Taluk, Chennai District, Tamil Nadu.

Sundaram-Clayton was quoting at Rs 1,277.00, down Rs 3.25, or 0.25 percent.

It has touched an intraday high of Rs 1,353.25 and an intraday low of Rs 1,269.95.

It was trading with volumes of 1,770 shares, compared to its five day average of 675 shares, an increase of 162.14 percent.

#1 Jio’s IPO in 2026 expected to improve tariff discipline, lift overall sector valuations

#2 Possible AGR relief could significantly enhance Indus Towers’ growth outlook, trigger valuation re-rating

#3 Tariff hikes expected around June 26 to drive higher revenue growth across operators

#4 Stable capex levels combined with rising revenue should boost free-cash-flow & RoCE

#5 Bharti Airtel: Top pick; target price raised to Rs 2,760, driven by multiple growth levers, strong FCF visibility

#6 Indus Towers: keeps ‘buy’ rating, target price raised to Rs 510 from Rs 425

Elecon Engineering Company, Transformers and Rectifiers (India), Eimco Elecon (India), Toyam Sports, and Yuranus Infrastructure will release their quarterly earnings today.

The company has announced a strategic collaboration with Cognition to accelerate the AI value journey for global enterprises. The integrated capabilities of AI software engineer Devin and Infosys Topaz Fabric are expected to accelerate software development, boost engineering productivity, and deliver a faster time-to-market.

Additionally, the company will announce its October–December 2025 quarter earnings on January 14, 2026.

Regarding media reports suggesting that Warburg Pincus is likely to acquire a meaningful stake in Lemon Tree Hotels, the company clarified that no negotiations, discussions, agreements, or proposals are ongoing or have been approved in relation to any acquisition by Warburg Pincus of shares of Lemon Tree Hotels, whether from APG Strategic RE Pool or otherwise. The company also stated that no preferential allotment of shares to Warburg Pincus is under consideration.

Accordingly, the statements in the media reports suggesting an acquisition of stake in the company, a possible open offer, or preferential allotment by the company to Warburg Pincus are factually incorrect and misleading.

Phoenix Mills was quoting at Rs 1,908.30, down Rs 33.90, or 1.75 percent.

It has touched an intraday high of Rs 1,943.15 and an intraday low of Rs 1,906.90.

It was trading with volumes of 2,641 shares, compared to its five day average of 58,148 shares, a decrease of -95.46 percent.

In the previous trading session, the share closed down 0.44 percent or Rs 8.55 at Rs 1,942.20.

The share touched a 52-week high of Rs 1,965.00 and a 52-week low of Rs 1,403.00 on 07 January, 2026 and 11 August, 2025, respectively.

Currently, the stock is trading 2.89 percent below its 52-week high and 36.02 percent above its 52-week low.

Market capitalisation stands at Rs 68,240.49 crore.

Pharmathen International SA is a supply partner manufacturing Lanreotide injection for Cipla USA Inc, a wholly owned subsidiary of the company.

The USFDA conducted an inspection at Pharmathen’s manufacturing facility in Greece from November 10 to 21, 2025, and issued a Form 483 with nine inspectional observations.

Currently, the company is evaluating the impact of the above development.

Cipla was quoting at Rs 1,463.75, down Rs 3.55, or 0.24 percent. It has touched an intraday high of Rs 1,469.45 and an intraday low of Rs 1,458. It was trading with volumes of 687,126 shares, compared to its five day average of 89,364 shares, an increase of 668.91 percent.

In the previous trading session, the share closed down 4.12 percent or Rs 63.05 at Rs 1,467.30.

The share touched a 52-week high of Rs 1,672.20 and a 52-week low of Rs 1,310.05 on 23 October, 2025 and 07 April, 2025, respectively. Currently, the stock is trading 12.47 percent below its 52-week high and 11.73 percent above its 52-week low. Market capitalisation stands at Rs 118,237.60 crore.

Gross toll collection in December 2025 grew by 11.7 percent to Rs 753.8 crore, compared to Rs 674.7 crore in the same month last year.

IRB Infrastructure Developers was quoting at Rs 42.20, down Rs 0.16, or 0.38 percent.

It has touched an intraday high of Rs 43.34 and an intraday low of Rs 42.04.

It was trading with volumes of 1,203,291 shares, compared to its five day average of 1,264,991 shares, a decrease of -4.88 percent.

In the previous trading session, the share closed up 1.15 percent or Rs 0.48 at Rs 42.36.

The share touched a 52-week high of Rs 60.90 and a 52-week low of Rs 40.54 on 01 February, 2025 and 26 September, 2025, respectively.

Currently, the stock is trading 30.71 percent below its 52-week high and 4.09 percent above its 52-week low.

Market capitalisation stands at Rs 25,484.58 crore.

The company has signed a non-binding Memorandum of Understanding (MoU) with the Government of Chhattisgarh. Under the MoU, the company may provide financial assistance of up to Rs 1 lakh crore over the next five years for the execution of various housing and infrastructure projects in the state.

Housing & Urban Development Corporation was quoting at Rs 219.70, down Rs 7.10, or 3.13 percent.

It has touched an intraday high of Rs 229.75 and an intraday low of Rs 219.15.

It was trading with volumes of 230,041 shares, compared to its five day average of 356,752 shares, a decrease of -35.52 percent.

In the previous trading session, the share closed up 0.87 percent or Rs 1.95 at Rs 226.80.

The share touched a 52-week high of Rs 253.80 and a 52-week low of Rs 158.90 on 03 June, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 13.44 percent below its 52-week high and 38.26 percent above its 52-week low.

Market capitalisation stands at Rs 43,981.74 crore.

The Sensex was down 658.66 points or 0.78 percent at 84,302.48, and the Nifty was down 0.87 percent at 25,912.10. About 966 shares advanced, 2735 shares declined, and 158 shares unchanged.

Swan Corp was quoting at Rs 448.40, down Rs 17.95, or 3.85 percent.

It has touched an intraday high of Rs 470.65 and an intraday low of Rs 448.25.

It was trading with volumes of 78,628 shares, compared to its five day average of 55,811 shares, an increase of 40.88 percent.

In the previous trading session, the share closed down 0.95 percent or Rs 4.45 at Rs 466.35.

The share touched a 52-week high of Rs 702.30 and a 52-week low of Rs 370.00 on 17 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 36.15 percent below its 52-week high and 21.19 percent above its 52-week low.

Market capitalisation stands at Rs 14,055.41 crore.

#1 European steel companies have rallied sharply over past 6 months as CBAM finally comes into effect

#2 Expect European steel prices to increase & see upside risks to Tata Netherlands estimates

#3 Tata’s underperformance is surprising given European footprint (7 mt)

Indraprastha Gas was quoting at Rs 186.70, down Rs 0.45, or 0.24 percent.

It has touched an intraday high of Rs 187.85 and an intraday low of Rs 185.90.

It was trading with volumes of 34,956 shares, compared to its five day average of 76,247 shares, a decrease of -54.15 percent.

In the previous trading session, the share closed down 1.76 percent or Rs 3.35 at Rs 187.15.

The share touched a 52-week high of Rs 229.20 and a 52-week low of Rs 172.00 on 09 July, 2025 and 16 April, 2025, respectively.

Currently, the stock is trading 18.54 percent below its 52-week high and 8.55 percent above its 52-week low.

Market capitalisation stands at Rs 26,138.03 crore.

ICICI Bank was quoting at Rs 1,433.40, up Rs 4.95, or 0.35 percent.

It has touched an intraday high of Rs 1,440.05 and an intraday low of Rs 1,423.55.

It was trading with volumes of 1,106,872 shares, compared to its five day average of 970,043 shares, an increase of 14.11 percent.

In the previous trading session, the share closed up 1.25 percent or Rs 17.70 at Rs 1,428.45.

The share touched a 52-week high of Rs 1,494.10 and a 52-week low of Rs 1,187.00 on 31 July, 2025 and 23 January, 2025, respectively.

Currently, the stock is trading 4.06 percent below its 52-week high and 20.76 percent above its 52-week low.

Market capitalisation stands at Rs 1,025,020.61 crore.

PNC Infratech was quoting at Rs 244.05, down Rs 3.65, or 1.47 percent.

It has touched an intraday high of Rs 248.15 and an intraday low of Rs 243.85.

It was trading with volumes of 4,639 shares, compared to its five day average of 10,767 shares, a decrease of -56.91 percent.

In the previous trading session, the share closed down 0.86 percent or Rs 2.15 at Rs 247.70.

The share touched a 52-week high of Rs 331.80 and a 52-week low of Rs 235.70 on 17 July, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 26.45 percent below its 52-week high and 3.54 percent above its 52-week low.

Market capitalisation stands at Rs 6,260.84 crore.

Emami was quoting at Rs 519.30, down Rs 6.85, or 1.30 percent.

It has touched an intraday high of Rs 526.50 and an intraday low of Rs 518.45.

It was trading with volumes of 7,136 shares, compared to its five day average of 233,243 shares, a decrease of -96.94 percent.

In the previous trading session, the share closed up 0.81 percent or Rs 4.25 at Rs 526.15.

The share touched a 52-week high of Rs 655.40 and a 52-week low of Rs 499.00 on 19 May, 2025 and 10 November, 2025, respectively.

Currently, the stock is trading 20.77 percent below its 52-week high and 4.07 percent above its 52-week low.

Market capitalisation stands at Rs 22,667.45 crore.

The company’s subsidiary, Adani Green Energy Twenty Five B Limited, has entered into a Power Consumption Agreement and a Tripartite Agreement for the supply of 20.8 MW of solar-wind hybrid power to Asahi India Glass.

The power will be supplied from a 25 MW solar power plant unit and a 20.8 MW wind power plant unit located at Khavda, Gujarat.

Additionally, Adani Green Energy Twenty Five B Limited and Adani Renewable Energy Holding Four have signed an Investment Agreement with Asahi India Glass.

#1 Expect sector profit pool to grow 20 percent+ for 2nd consecutive year on strong demand, margin expansion

#2 Demand recovery to accelerate, led by housing activity, higher government infra spending, revival in private capex

#3 Low RoCEs, rising industry consolidation likely to restore pricing discipline

#4 Large players expected to gain market share via capacity additions & cost efficiencies

We expect modest pre-sales across our residential real estate coverage in Q3FY26, largely due to lower launch activity. Aggregate pre-sales of our universe are likely to decline ~5% yoy in the quarter, primarily driven by a sharp ~80% yoy fall in DLF’s pre-sales, which had a high base in the corresponding quarter last year.

Among peers, Prestige, Godrej, and Sobha are expected to deliver strong pre-sales, supported by launches in key markets. In contrast, Brigade and Signature may see yoy moderation in pre-sales despite launches, owing to a strong base. Lodha, Oberoi, and Sunteck should see performance largely supported by sustenance sales, given the absence of major project launches.

Industry data also points to some moderation in Q3FY26 pre-sales, reflecting the softer launch environment. For commercial real estate, Q3FY26 earnings should continue to be aided by new lease rentals from such occupancy improvement, alongside regular rental escalations and mark-to-market for renewals. We also expect a gradual improvement in distributions from office REITs.

Indian rupee is trading flat at 89.89 per dollar versus Wednesday's close of 89.88.

The Sensex was down 570.08 points or 0.67 percent at 84,400.86, and the Nifty was down 0.76 percent at 25,941.05. About 1051 shares advanced, 2557 shares declined, and 164 shares unchanged.

Bharat Heavy Electricals (BHEL) has achieved a major milestone in its 'Make in India' initiatives for the rail transportation sector by commencing supply of underslung traction converters for the prestigious Vande Bharat Sleeper Train project being executed by BHEL led consortium with TRSL.

The company has received a quarry lease work order from the Department of Mines & Geology, Government of Andhra Pradesh.

As per the work order, the company has been permitted to undertake quarrying operations for the extraction of coloured Quartzite blocks suitable for cutting and polishing over an area of 21.012 hectares (51.92 acres) located in Prakasam district, Andhra Pradesh, for a period of 30 years, commencing from January 6, 2026.

Midwest was quoting at Rs 1,746.60, down Rs 52.85, or 2.94 percent.

It has touched a 52-week high of Rs 1,856.60.

It has touched an intraday high of Rs 1,856.60 and an intraday low of Rs 1,743.

The Government of India has appointed Vishwanath Suresh as the Chairman-cum-Managing Director of the company.

MOIL was quoting at Rs 352.30, down Rs 23.85, or 6.34 percent.

It has touched an intraday high of Rs 375.80 and an intraday low of Rs 352.00.

It was trading with volumes of 55,760 shares, compared to its five day average of 101,283 shares, a decrease of -44.95 percent.

The Union Budget 2026 is expected to be a cautious, tightly balanced budget focused more on strategic prioritisation than big announcements. With tax revenues under pressure due to last year’s income-tax relief, the government’s major focus will be to fund rising needs, especially defence, renewable energy, and semiconductors—without breaking fiscal discipline.

Instead of aggressive public spending, this year's budget will likely rely on a recovery in consumption and private investment to drive growth, while keeping overall capex growth moderate. Defence, green energy, urban infrastructure, and manufacturing will see clear preference, while health, education, and traditional infrastructure get only incremental increases. Overall, Budget 2026 will emphasise disciplined spending, targeted capital allocation, and private-sector crowding.

Swiggy was quoting at Rs 355.45, down Rs 6.10, or 1.69 percent.

It has touched an intraday high of Rs 363.50 and an intraday low of Rs 354.05.

In the previous trading session, the share closed up 0.07 percent or Rs 0.25 at Rs 361.55.

The share touched a 52-week high of Rs 520.70 and a 52-week low of Rs 297.00 on 09 January, 2025 and 13 May, 2025, respectively.

Currently, the stock is trading 31.74 percent below its 52-week high and 19.68 percent above its 52-week low.

Market capitalisation stands at Rs 98,115.35 crore.

#1 Q3 naukri billing slightly below expectations

#2 Real estate (99acres) billings grew 14.4 percent YoY versus expectation of 17 percent YoY growth

#3 Other verticals’ (education & matrimony) billings grew 13.7 percent versus estimates of 20 percent YoY growth

#4 Overall billings were up by 11.8 percent YoY versus expectation of 13.6 percent growth

Info Edge India was quoting at Rs 1,345.90, down Rs 13.10, or 0.96 percent.

It has touched an intraday high of Rs 1,367.25 and an intraday low of Rs 1,335.90.

It was trading with volumes of 52,883 shares, compared to its five day average of 29,614 shares, an increase of 78.58 percent.

In the previous trading session, the share closed up 1.70 percent or Rs 22.70 at Rs 1,359.00.

The share touched a 52-week high of Rs 1,648.63 and a 52-week low of Rs 1,151.45 on 09 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 18.36 percent below its 52-week high and 16.89 percent above its 52-week low.

Market capitalisation stands at Rs 87,270.93 crore.

FPIs’ sectoral rotation in late December reflected valuation discipline and changing macro cues. Strong buying in IT was led by attractive valuations, rupee depreciation, and optimism around AI-led growth and heightened expectations of US interest rate cuts, which improved the outlook for discretionary technology spending and earnings visibility. Consumer services benefited from a rebound in demand supported by softer inflation and GST cuts, with consumers favouring experiences like travel and dining, alongside resilient export demand.

Metals & mining gained from government push for critical minerals, strong domestic import growth reflecting robust demand, favourable global commodity prices, and hopes of Chinese economic recovery. In contrast, FPIs sold FMCG due to stretched valuations and weak volume growth, pared financial services on profit booking, regulatory overhang and margin concerns, and reduced auto exposure amid demand moderation, pricing pressure.

RateGain Travel Technologies announced an exclusive reseller partnership with Aztech Digital, an adtech solution provider and trusted advisor to hotels across Greece and Cyprus. This partnership will expand the reach of UNO VIVA, the first CRS-integrated AI voice agent built for hotels.

Samvardhana Motherson International was quoting at Rs 117.95, down Rs 1.35, or 1.13 percent.

It has touched an intraday high of Rs 118.85 and an intraday low of Rs 117.40.

It was trading with volumes of 105,734 shares, compared to its five day average of 554,886 shares, a decrease of -80.94 percent.

In the previous trading session, the share closed down 1.24 percent or Rs 1.50 at Rs 119.30.

The share touched a 52-week high of Rs 124.80 and a 52-week low of Rs 71.53 on 02 January, 2026 and 07 April, 2025, respectively.

Currently, the stock is trading 5.49 percent below its 52-week high and 64.9 percent above its 52-week low.

Market capitalisation stands at Rs 124,489.65 crore.

The Sensex was down 344.78 points or 0.41 percent at 84,616.36, and the Nifty was down 0.47 percent at 26,018.30. About 1338 shares advanced, 2099 shares declined, and 172 shares unchanged.

Birla Corporation was quoting at Rs 1,079.00, down Rs 13.15, or 1.20 percent.

It has touched an intraday high of Rs 1,092.95 and an intraday low of Rs 1,072.55.

It was trading with volumes of 1,017 shares, compared to its five day average of 3,329 shares, a decrease of -69.45 percent.

In the previous trading session, the share closed up 1.44 percent or Rs 15.55 at Rs 1,092.15.

The share touched a 52-week high of Rs 1,537.15 and a 52-week low of Rs 901.85 on 30 July, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 29.81 percent below its 52-week high and 19.64 percent above its 52-week low.

Market capitalisation stands at Rs 8,308.88 crore.

RailTel Corporation of India has received the work order of Rs 1,01,82,38,520 from Public Financial Management System (Pfms).

Bikaji Foods International was quoting at Rs 718.25, down Rs 1.20, or 0.17 percent.

It has touched an intraday high of Rs 725.05 and an intraday low of Rs 718.25.

In the previous trading session, the share closed up 1.11 percent or Rs 7.90 at Rs 719.45.

The share touched a 52-week high of Rs 820.85 and a 52-week low of Rs 520.00 on 04 September, 2025 and 18 February, 2025, respectively.

Currently, the stock is trading 12.5 percent below its 52-week high and 38.13 percent above its 52-week low.

Market capitalisation stands at Rs 17,998.82 crore.

ACC was quoting at Rs 1,740.95, down Rs 14.20, or 0.81 percent.

It has touched an intraday high of Rs 1,755 and an intraday low of Rs 1,738.10.

It was trading with volumes of 1,712 shares, compared to its five day average of 10,705 shares, a decrease of -84.01 percent.

In the previous trading session, the share closed up 0.18 percent or Rs 3.15 at Rs 1,755.15.

The share touched a 52-week high of Rs 2,123.30 and a 52-week low of Rs 1,715.85 on 24 April, 2025 and 30 December, 2025, respectively.

Currently, the stock is trading 18.01 percent below its 52-week high and 1.46 percent above its 52-week low.

Market capitalisation stands at Rs 32,692.82 crore.