Closing Bell: Nifty below 26,150, Sensex down 102 pts; pharma, IT shine, autos slip

The Indian benchmark indices continued their fall on third straight session on January 7 with Nifty closing below 26,150 amid volatility led by concerns over rising geopolitical risks, FII selling and weak Asian markets.

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.

Nifty extended its losing streak to a third straight session, slipping 37 points to settle at 26,140, but managing to close off the day’s low. The index went through a choppy session, underscoring indecision and a clear tug-of-war between bulls and bears. A smart 86-point recovery in the last hour helped the index defend the crucial 26,100 support zone. NSE cash market turnover eased by about 3% versus the previous session.

Titan, along with IT heavyweights such as HCL Tech, Wipro and Tech Mahindra, ended as top gainers in the Nifty basket. In contrast, Cipla, Maruti, Tata Motors’ passenger vehicle segment and Power Grid came under profit booking pressure and ended as losers.

Sectorally, the picture was mixed, with IT, consumer durables and pharma logging the strongest gains. Auto, oil & gas and realty, however, remained under pressure and ended as the top losers.

In the broader market, mid and small caps outperformed the frontline indices, with the Nifty Midcap and Smallcap 100 indices closing with gains of around 0.4%. The market breadth was marginally positive, as advancing shares slightly outpaced decliners, with the advance-decline ratio on the BSE at 1.01, pointing to renewed buying interest in the midcap and smallcap universe after two sessions of profit taking.

Indian rupee continued its appreciation for the second consecutive day, rising 29 paise against the US dollar to close at 89.88, marking its strongest single-session gain since mid-December. The move was largely driven by proactive central bank action, with the RBI stepping in aggressively to offset the impact of persistent foreign portfolio outflows.

From a technical perspective, despite the short-term softness, the broader positional trend remains bullish, backed by a pattern of higher tops and higher bottoms on the daily charts. On the upside, the recent swing high of 26,373 is likely to act as an immediate resistance level, while the 26,050–26,100 band is expected to offer strong near-term support.

The Nifty remained volatile during the session, though the real range stayed relatively small. On the lower end, it found support at the 21 EMA before closing higher.

In the near term, the trend is likely to remain sluggish, with the range placed between 26000 and 26300. Any decisive fall below 26000 may trigger further weakness. On the other hand, a decisive move above 26300 would require for a directional upmove in the Nifty.

Today, the Indian stock markets ended flat with minor losses. The Sensex closed at 84,961 while Nifty stayed closed at 26,140, showing cautious sentiment among traders. This marks the third straight day of small declines after markets had reached record highs. Investors are weighing positive quarterly business updates against concerns about global tensions and potential US tariffs on India related to buying Russian oil.

The Reserve Bank of India proposed a major change allowing banks to distribute 75% of their profits as dividends, up from the previous 40% limit. This new rule, starting April 2026, aims to reward shareholders while ensuring banks maintain adequate capital reserves. Banks with stronger financial positions will benefit most, while weaker banks will need to retain more earnings. The public can provide feedback on this proposal until February 5, 2026.

Technology stocks like Infosys, TCS, and Wipro gained as investors sought safer bets. Pharmaceutical companies also saw buying interest. However, auto stocks declined due to demand concerns, and HDFC Bank's weakness pulled down the broader market.

Nifty began the session on a weak note and attempted a recovery but faced strong resistance twice near the 26,180–26,190 zone, leading to a gradual decline. The index staged a steady recovery in the second half from the day’s low of 26,069 but eventually ended the day 0.14% lower at 26,140. Since hitting an all-time high of 26,373 on 5th January, Nifty has posted consecutive doji candles on the daily chart. However, despite intraday choppiness, Index managed to close above its 20-day EMA, indicating underlying support remains intact.

On the sectoral front, Nifty IT ended the day as the top sectoral gainer, followed by Nifty Pharma. On the other hand, Nifty Auto and Nifty Oil & Gas emerged as the lone sectoral loser. With regards to stocks, Titan & HCL Tech emerged as the top stock gainers amongst the Nifty pack while Cipla & Maruti emerged as the top two losers.

The Midcap index continues to remain range-bound over the last four trading sessions, moving within a 712-point band. Similar to the benchmark indices, Midcaps have taken a breather after hitting an all-time high of 61,521 on 5th January. The sideways movement indicates consolidation at higher levels rather than aggressive profit booking. A decisive breakout from the current range will be crucial in determining the next directional move for the broader market.

The Smallcap index has shown relative resilience by holding above its 100-day EMA for the past three trading sessions. This suggests buying interest on dips despite broader market consolidation. The index continues to trade below the key psychological level of 18,000, which remains an important hurdle. A decisive breakout above this level could extend the ongoing pullback rally, while the 100-DEMA is likely to act as a crucial support in the near term.

The market breadth was relatively balanced, with neither the bulls nor bear gaining an upper hand at day’s close. A total of 250 stocks out of the Nifty 500 universe ended in the green.

Nifty View

Going ahead, for Nifty, the 50-day EMA zone of 25,950-25,900 will act as an immediate support. Any sustained move below the 25,900 level could lead to Index extending its weakness further down towards the 25,800 level, followed by 25,700. On the upside, the zone of 26,200-26,250 will act as an as immediate resistance and move above 26,250 could lead to continuation of up move in the Index.

Bank Nifty View

Bank Nifty opened weak and slipped lower before finding firm support around the 59,860–59,870 zone. A recovery from lower levels erased a part of the losses, but the index failed to sustain above the day’s high. Selling pressure resurfaced again around the day’s high, dragging Bank Nifty to an Intraday low of 59,761. The Index yet again attempted to stage a recovery late in the second half, leading to a formation of a thin body candle with a relatively longer lower shadow. Bank Nifty ended the day at 59,991, down 0.21%.

Going ahead, for Bank Nifty, the 20-day EMA zone of 59,600-59,500 will act as an immediate support. Any sustained move below the 59,500 level could lead to index extending its weakness further down towards the 59,000 level. On the upside, the zone of 60,200-60,300 will act as an as immediate resistance and move above 60,300 could lead to continuation of up move in the index.

The Indian rupee recorded its most significant single-session gain since mid-December, emerging as a regional outperformer despite imbalance between dollar demand supply. This rally was largely catalysed by strategic central bank intervention, as the RBI moved aggressively to neutralise the impact of sustained foreign capital outflows.

Market sentiment remains sensitive to the ongoing delay in US-India tariffs deals, which has continued to exert downward pressure on domestic rupee. However, the RBI’s proactive defense of the currency has provided a necessary floor for the rupee against a strengthening greenback in past two days.

From a technical standpoint, spot USDINR has support at 89.40 and resistance at 90.30.

Domestic market sentiment remains cautious with risk-off undertones ahead of Q3FY26 earnings and key U.S. jobs data. While QoQ corporate earnings are expected to improve, FIIs remain risk-averse amid global trade uncertainty.

Profit-booking in autos and financials weighs indices, though selective buying in IT, pharma, and mid-caps did provide some cushion. Adding to global complexity, China’s export curbs on rare earth heighten supply chain risks. In this macro backdrop, equities are likely to stay range-bound; a “buy-on-dips” strategy focused on large-cap themes appears prudent.

IT saw inflows as valuations corrected over the past year. Also, there are expectations that global tech spending is coming and deal pipelines may stabilize in FY26. Consumer services, which offer better volume and earnings momentum than staples are benefited from optimism about domestic discretionary demand recovery which is supported by urban consumption, travel and digital services growth.

Metals and mining saw FPI inflows on expectations of a global cyclical revival, sustained commodity prices and India’s infrastructure and capex push improving earnings visibility. FMCG, on the other hand, saw selling because of weak volume growth, distress from rural demand, and elevated valuations that limit upside.

Financial services saw outflows because of concerns over margin normalisation and peak profitability that led FPIs to reduce their exposure after strong past performance. Auto stocks faced selling largely due to profit-booking as valuations remained relatively full that prompted FPIs to rotate capital toward sectors such as IT and metals where risk-reward appeared more favorable.

The only tailwinds for FMCG stocks are gradual recovery in rural areas and the reduction of input costs. Healthy balance sheets and consistent credit growth will support financial services stocks, but margins are still a major concern. Adoption of EVs, the launch of new products, lower prices, increased demand in rural areas, and potential interest rate easing are some of the auto stocks tailwinds.

Rupee strengthened by 24 paise to 89.84 against the dollar, aided by weakness in the dollar index and some profit booking in commodities. The recovery was also supported by relatively lower foreign outflows in recent sessions. Despite the bounce, broader sentiment remains cautious, and the rupee is expected to trade in a 89.45–90.25 range in the near term.

Indian rupee ended 29 paise lower at 89.88 per dollar on versus previous close of 90.17.

Indian equity indices ended lower for the third consecutive session on January 7.

At close, the Sensex was down 102.20 points or 0.12 percent at 84,961.14, and the Nifty was down 37.95 points or 0.14 percent at 26,140.75. About 1939 shares advanced, 1886 shares declined, and 140 shares unchanged.

Titan Company, Tech Mahindra, HCL Technologies, Wipro, Jio Financial were among major gainers on the Nifty, while losers were Cipla, Maruti Suzuki, Max Healthcare, Tata Motors Passenger Vehicles, Power Grid.

BSE Midcap index added 0.5%, while smallcap index rose 0.12%.

Consumer durables, IT, pharma gained 0.5-1.8%, while auto, oil & gas, realty, telecom shed 0.5 each.

#1 Consolidated revenue growth close to double digits, led by double-digit India volume growth

#2 Meaningful improvement in margin, as expected

#3 Expect consolidated margin of 20.7 percent in Q3, should drive 12.8 percent YoY growth in EBITDA

Godrej Consumer Products was quoting at Rs 1,246.40, down Rs 7.25, or 0.58 percent.

It has touched an intraday high of Rs 1,275.00 and an intraday low of Rs 1,235.30.

It was trading with volumes of 134,391 shares, compared to its five day average of 24,775 shares, an increase of 442.45 percent.

#1 Industry offers a long runway, execution and distribution remain key challenges

#2 Distribution reforms could benefit high-cost insurers as regulations evolve

#3 Estimated 170–225 mn life and credit-life policies currently in force

#4 Addressable market of around 500 mn ‘Atmanirbhar’ adults remains underpenetrated

#5 Savings products dominate, protection and credit-life adoption still low

#6 Cracking distribution critical amid ongoing regulatory restructuring

#7 SBI Life–buy call, target price at Rs 2,455 (best positioned for scale and profitability)

#8 Max Financial–buy call, target price at Rs 1,935 (improving margin & VNB growth)

#9 HDFC Life–neutral call, target price at Rs 815 (valuation limits upside)

#10 ICICI Prudential–neutral call, target price at Rs 1,740 (balanced growth but near-term muted

#1 Consolidated revenue from operations grows 13.4 percent to Rs 2,438.7 crore, YoY

#2 Domino’s India Like-for-like growth at 5 percent, YoY

#3 Domino’s India opened 75 new stores, ending the quarter with 2,396 stores

Jubilant Foodworks was quoting at Rs 537.10, down Rs 8.90, or 1.63 percent.

It has touched an intraday high of Rs 555.10 and an intraday low of Rs 535.55.

It was trading with volumes of 63,945 shares, compared to its five day average of 67,367 shares, a decrease of -5.08 percent.

In the previous trading session, the share closed up 1.32 percent or Rs 7.10 at Rs 546.00.

The share touched a 52-week high of Rs 760.65 and a 52-week low of Rs 532.75 on 03 February, 2025 and 06 January, 2026, respectively.

Currently, the stock is trading 29.39 percent below its 52-week high and 0.82 percent above its 52-week low.

Market capitalisation stands at Rs 35,440.29 crore.

The Sensex was down 197.17 points or 0.23 percent at 84,866.17 , and the Nifty was down 0.19 percent at 26,129. About 1790 shares advanced, 2023 shares declined, and 136 shares unchanged.

The Trust has emerged as the selected bidder and has received a Letter of Award from the National Highways Authority of India (NHAI) for the project involving the tolling, operation, maintenance, and transfer of the Chandikhole–Bhadrak section of NH-16 in Odisha.

The Trust will pay an upfront bid concession fee of Rs 3,087 crore to NHAI for a revenue-linked concession period of 20 years.

Large-cap stocks saw selective buying in afternoon trade, led by Titan Company, which jumped just over 4 percent on healthy volumes. Avenue Supermarts and Torrent Pharmaceuticals also rose around 4 percent, while Solar Industries and Info Edge posted gains of over 2 percent each. IT stocks continued their rebound from intraday lows, with HCL Tech and Infosys up about 1.6-1.7 percent, while LTIMindtree added nearly 2 percent. Jio Financial Services and Hyundai Motor India also featured among the top large-cap gainers, supported by strong trading volumes.

Sectoral cues remained mixed in afternoon trade. Auto stocks led losses, with the Nifty Auto index down about 1 percent, while PSU banks and realty also traded lower. FMCG stayed under pressure, extending its recent underperformance. In contrast, IT stocks outperformed, with the Nifty IT index rising nearly 2 percent, even as the sector remains sharply negative on a one-year basis. Pharma shares also traded firm, offering some defensive support to the market amid weakness in cyclicals.

The Nifty 50 was trading at 26,088, down 0.34 percent, as selling pressure in heavyweight banks weighed on the benchmarks. The Nifty Bank index slipped 0.42 percent, keeping overall market sentiment cautious. In contrast, broader markets held up better, with the Nifty Midcap 100 rising 0.3 percent and the Nifty Smallcap 100 up 0.29 percent, extending their recent outperformance even as frontline indices remained under pressure.

Heavyweights drove the Nifty higher, led by Titan Company, which contributed the most to the index after rising over 4 percent. IT majors also lent strong support, with Infosys, Tata Consultancy Services and HCL Technologies together accounting for a significant chunk of gains.

Among banks, ICICI Bank emerged as a key positive contributor, while JSW Steel and Adani Enterprises added incremental support. Other IT names such as Tech Mahindra and Wipro, along with Sun Pharma, also contributed to the index’s recovery from the day’s lows.

Several Nifty Midcap 100 stocks staged a sharp intraday recovery, led by Tata Elxsi, which surged over 9 percent from the day’s low. IT names dominated the rebound, with Persistent Systems and KPIT Technologies rising about 5 percent and 4.6 percent, respectively, from their intraday troughs, while Tata Technologies recovered nearly 4 percent.

Among non-IT stocks, Alkem Laboratories, Mankind Pharma and Lupin gained 2.7-3.3 percent from their session lows. Oracle Financial Services Software, Kalyan Jewellers and Solar Industries India also saw 2.7-3 percent recoveries, indicating selective dip-buying in midcaps despite a cautious broader market tone.

Several Nifty 50 constituents pared intraday losses in afternoon trade, led by Jio Financial Services, which rebounded over 2 percent from the day’s low. IT majors TCS, Tech Mahindra, Wipro and HCL Technologies recovered 1.7-2.1 percent from their intraday troughs. Among non-IT names, Titan Company, JSW Steel, Apollo Hospitals, Sun Pharma and Adani Enterprises also bounced 1.3-1.8 percent from their session lows, signalling selective dip-buying despite broader market weakness.

The company’s subsidiary, Pidilite Ventures (PVPL), has transferred its entire shareholding in Pepperfry to TCC Concept (TCC) in a 100 percent share-swap deal, pursuant to the acquisition of shares of Pepperfry by TCC.

Accordingly, PVPL now holds a 2.20 percent shareholding in TCC. The promoters/promoter group of PVPL have no interest in TCC.

#1 Bank enters a phase of sustained and broad-based profitability

#2 Transitioning from a multi-year investment & balance-sheet cleanup cycle

#3 Strong liabilities franchise with 50 percent CASA, borrowings reduced to 13 percent of funding mix

#4 Structural shift from wholesale-led to granular retail-focussed lending model

#5 Strong growth visibility with loan/deposit CAGR of 20 percent/22 percent over FY26–28

#6 Superior fee-income profile at >2 percent of average assets, ahead of peers

#7 Core-PPoP CAGR of 39 percent, driven by 50 bps cost-to-assets moderation & 14 bps NIM expansion

#8 Credit costs expected to decline by 35 bps, lifting RoA/RoE to 1.2 percent/11.8 percent by FY28

#9 EPS CAGR Of 67 percent over FY26–28, among the best in the sector

Tata Elxsi was quoting at Rs 5,764.50, up Rs 421.35, or 7.89 percent.

It has touched an intraday high of Rs 5,840 and an intraday low of Rs 5,325.15.

It was trading with volumes of 53,634 shares, compared to its five day average of 4,955 shares, an increase of 982.33 percent.

In the previous trading session, the share closed down 0.31 percent or Rs 16.35 at Rs 5,343.15.

The share touched a 52-week high of Rs 6,733.50 and a 52-week low of Rs 4,601.05 on 10 June, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 14.39 percent below its 52-week high and 25.29 percent above its 52-week low.

Market capitalisation stands at Rs 35,910.08 crore.

Indian rupee is trading higher at 89.86 per dollar versus previous close of 90.17.

ICICI Lombard General Insurance Company was quoting at Rs 1,986.60, down Rs 24.20, or 1.20 percent.

It has touched an intraday high of Rs 2,021.00 and an intraday low of Rs 1,985.00.

It was trading with volumes of 3,708 shares, compared to its five day average of 5,733 shares, a decrease of -35.32 percent.

In the previous trading session, the share closed up 1.56 percent or Rs 30.90 at Rs 2,010.80.

The share touched a 52-week high of Rs 2,074.85 and a 52-week low of Rs 1,612.65 on 02 July, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 4.25 percent below its 52-week high and 23.19 percent above its 52-week low.

Market capitalisation stands at Rs 98,944.68 crore.

Alkem Laboratories was quoting at Rs 5,791, up Rs 138.75, or 2.45 percent.

It has touched an intraday high of Rs 5,820.60 and an intraday low of Rs 5,631.70.

It was trading with volumes of 51,507 shares, compared to its five day average of 1,084 shares, an increase of 4,651.57 percent.

In the previous trading session, the share closed up 1.69 percent or Rs 94.10 at Rs 5,652.25.

The share touched a 52-week high of Rs 5,867.50 and a 52-week low of Rs 4,498.90 on 13 November, 2025 and 28 February, 2025, respectively.

Currently, the stock is trading 1.3 percent below its 52-week high and 28.72 percent above its 52-week low.

Market capitalisation stands at Rs 69,240.09 crore.

#1 Pre-sales grow 25 percent to Rs 5,620 crore Vs Rs 4,510 crore, YoY

#2 Collections fall 17 percent to Rs 3,560 crore Vs Rs 4,290 crore, YoY

#3 Company adds 5 projects with GDV of Rs 33,800 crore in MMR, NCR and Bengaluru, YoY

Aarvi Encon has been awarded the work contract by Bharat Petroleum Corporation (BPCL) for a duration of 5 years.

ICICI Bank was quoting at Rs 1,425.20, up Rs 14.45, or 1.02 percent.

It has touched an intraday high of Rs 1,428.50 and an intraday low of Rs 1,361.15.

It was trading with volumes of 804,584 shares, compared to its five day average of 450,592 shares, an increase of 78.56 percent.

In the previous trading session, the share closed up 2.87 percent or Rs 39.30 at Rs 1,410.75.

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 4.61 percent below its 52-week high and 20.07 percent above its 52-week low.

Market capitalisation stands at Rs 1,019,136.52 crore.

The Sensex was down 242.27 points or 0.28 percent at 84,820.20, and the Nifty was down 79.60 points or 0.30 percent at 26,099.10. About 1743 shares advanced, 1953 shares declined, and 156 shares unchanged.

#1 Strong agri–solar integration opportunity

#2 Well placed due to deep pump-tech expertise & in-house solar module manufacturing

#3 Solar-powered irrigation offers lifecycle cost benefits to farmers & government

#4 Revenue/EBITDA/PAT CAGR of 21 percent/13 percent/11 percent over FY26–28

#5 Conservative estimates factor in potential delays in PM-KUSUM 2.0 rollout

Oswal Pumps was quoting at Rs 511.35, up Rs 6.10, or 1.21 percent.

Emami was quoting at Rs 528.30, up Rs 6.40, or 1.23 percent.

It has touched an intraday high of Rs 529.25 and an intraday low of Rs 518.20.

It was trading with volumes of 14,602 shares, compared to its five day average of 12,959 shares, an increase of 12.68 percent.

In the previous trading session, the share closed down 0.99 percent or Rs 5.20 at Rs 521.90.

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 19.39 percent below its 52-week high and 5.87 percent above its 52-week low.

Market capitalisation stands at Rs 23,060.30 crore.

TC Industries has received a prestigious order from the Vikram Sarabhai Space Centre (VSSC), a key centre of the Indian Space Research Organisation (ISRO).

The order involves the conversion of 40 tonnes of Grade 1 Titanium sponge into Ti-6Al-4V Titanium alloy ingots, produced using a Double Vacuum Arc Remelting (Double VAR) process, meeting the stringent quality and purity requirements of space and aerospace applications.

CMS Info Systems has been awarded a Rs 1,000 crore, 10‑year contract from State Bank of India (SBI), covering ~5,000 bank-owned ATMs across India. The project will include managed services, improving cash efficiency, and delivering higher ATM uptime to benefit millions of bank customers. The contract goes live in January 2026.

We believe CY26 will be better than 25 due to an improved earnings trajectory and a prospective trade deal. The negative will be the over supply of paper.

IDFC First Bank was quoting at Rs 85.05, up Rs 0.34, or 0.40 percent.

It has touched an intraday high of Rs 86.20 and an intraday low of Rs 84.95.

It was trading with volumes of 1,916,446 shares, compared to its five day average of 1,718,237 shares, an increase of 11.54 percent.

In the previous trading session, the share closed down 0.25 percent or Rs 0.21 at Rs 84.71.

The share touched a 52-week high of Rs 87.00 and a 52-week low of Rs 52.50 on 02 January, 2026 and 07 April, 2025, respectively.

Currently, the stock is trading 2.24 percent below its 52-week high and 62 percent above its 52-week low.

Market capitalisation stands at Rs 73,106.33 crore.

#1 Strong Q3 performance beat

#2 Ex-bullion consolidated sales grew around 40 percent YoY, well above expectations

#3 Jewellery, including CaratLane delivered around 41 percent YoY growth, ahead of estimates

#4 Watches & eyecare businesses delivered in-line performance

#5 Emerging categories, especially fashion accessories, continued strong momentum

We believe earnings will accelerate going ahead due to monetary stimulus could lead to a better demand boost transmission from direct and indirect taxes relief coming through.

Currency - a sharp rupees depreciation will lift up the revenue pool. Once it stops sliding, we are going to see the earnings reflection coming through.

The Sensex was down 184.18 points or 0.22 percent at 84,878.92, and the Nifty was down 0.22 percent at 26,121.65. About 1859 shares advanced, 1735 shares declined, and 176 shares unchanged.

Jubilant Foodworks was quoting at Rs 538.90, down Rs 7.10, or 1.30 percent.

It has touched an intraday high of Rs 555.10 and an intraday low of Rs 536.40.

It was trading with volumes of 51,467 shares, compared to its five day average of 67,367 shares, a decrease of -23.60 percent.

In the previous trading session, the share closed up 1.32 percent or Rs 7.10 at Rs 546.00.

The share touched a 52-week high of Rs 760.65 and a 52-week low of Rs 532.75 on 03 February, 2025 and 06 January, 2026, respectively.

Currently, the stock is trading 29.15 percent below its 52-week high and 1.15 percent above its 52-week low.

Market capitalisation stands at Rs 35,559.06 crore.

At this point of time we believe markets are at a stage of refresh and reboot and reclaim.

#1 Bank enters a phase of sustained and broad-based profitability

#2 Transitioning from a multi-year investment & balance-sheet cleanup cycle

#3 Strong liabilities franchise with 50 percent CASA, borrowings reduced to 13 percent of funding mix

#4 Structural shift from wholesale-led to granular retail-focussed lending model

#5 Strong growth visibility with loan/deposit CAGR of 20 percent/22 percent over FY26–28

#6 Superior fee-income profile at >2 percent of average assets, ahead of peers

#7 Core-PPoP CAGR of 39 percent, driven by 50 bps cost-to-assets moderation & 14 bps NIM expansion

#8 Credit costs expected to decline by 35 bps, lifting RoA/RoE to 1.2 percent/11.8 percent by FY28

#9 EPS CAGR Of 67 percent over FY26–28, among the best in the sector

IDFC First Bank was quoting at Rs 85.19, up Rs 0.48, or 0.57 percent. It has touched an intraday high of Rs 86.20 and an intraday low of Rs 85.01. It was trading with volumes of 1,620,629 shares, compared to its five day average of 1,718,237 shares, a decrease of -5.68 percent.

Reliance Industries strongly rejected claims of Russian oil imports to its Jamnagar refinery, stating that such news reports are “blatantly untrue” and are “tarnishing” its image.

The company informed the exchanges that there is no linkage between the movement in the price of its equity shares and reports on Russian oil imports.

Despite the company’s denial of purchasing any Russian oil for delivery in January, a news report was published by Bloomberg claiming that “three vessels laden with Russian oil are heading for Reliance Industries Limited’s Jamnagar refinery.”

Later, Bloomberg updated its report, clarifying that the Russian oil cargo earlier linked to Reliance was discharged elsewhere.

The company stated that there is no information that has not been announced to the stock exchanges and that it has made and will continue to make disclosures in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations and agreements with the stock exchanges.

The bank announced the implementation of a new next-generation Core Banking System as part of its ongoing digital transformation programme.

The migration of the Core Banking System to the new Finacle platform is planned from January 8 to January 10. During this period, all banking services will not be available.

Fino Payments Bank was quoting at Rs 250.70, down Rs 2.60, or 1.03 percent.

It has touched an intraday high of Rs 254.00 and an intraday low of Rs 249.10.

It was trading with volumes of 57,373 shares, compared to its five day average of 1,161,912 shares, a decrease of -95.06 percent.

In the previous trading session, the share closed down 0.92 percent or Rs 2.35 at Rs 253.30.

The share touched a 52-week high of Rs 339.00 and a 52-week low of Rs 200.00 on 21 October, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 26.05 percent below its 52-week high and 25.35 percent above its 52-week low.

Market capitalisation stands at Rs 2,086.29 crore.

2025 was a year of consolidation, a year of resilience. As the market has grown it has become mature. When the market was smaller, it would react for even the smallest of news.

As an economy we have matured and become stronger. We have learnt how to take the right decisions to challenges.

Many bold decisions were taken in 2025 which will make the future brighter - from rate cuts to GST cuts.

The company’s subsidiary, Pidilite Ventures (PVPL), has transferred its entire shareholding in Pepperfry to TCC Concept (TCC) in a 100 percent share-swap deal, pursuant to the acquisition of shares of Pepperfry by TCC.

Accordingly, PVPL now holds a 2.20 percent shareholding in TCC. The promoters/promoter group of PVPL have no interest in TCC.

The Sensex was down 70. 80 points or 0.08 percent at 84,992.54, and the Nifty was down 0.08 percent at 26,157.75. About 1771 shares advanced, 1673 shares declined, and 177 shares unchanged.

TP Solar, solar manufacturing arm and a wholly owned subsidiary of Tata Power Renewable Energy, a subsidiary of The Tata Power Company recorded strong manufacturing performance from April 2025 to December 2025 (9 months period).

During this period, TP Solar manufactured 2.8 GW of DCR solar cells and 2.9 GW of solar modules. Out of 2.9 GW modules, 2.4GW were DCR Modules and balance 0.5 GW were ALMM modules.

The Tata Power Company was quoting at Rs 384.40, down Rs 1.85, or 0.48 percent. It has touched an intraday high of Rs 387.00 and an intraday low of Rs 383.25. It was trading with volumes of 52,549 shares, compared to its five day average of 219,782 shares, a decrease of -76.09 percent.

Avenue Supermarts was quoting at Rs 3,760.70, up Rs 95.80, or 2.61 percent.

It has touched an intraday high of Rs 3,769 and an intraday low of Rs 3,660.

It was trading with volumes of 24,570 shares, compared to its five day average of 57,229 shares, a decrease of -57.07 percent.

In the previous trading session, the share closed up 0.50 pfgfdercent or Rs 18.40 at Rs 3,664.90.

The share touched a 52-week high of Rs 4,916.30 and a 52-week low of Rs 3,337.10 on 04 September, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 23.51 percent below its 52-week high and 12.69 percent above its 52-week low.

Market capitalisation stands at Rs 244,721.18 crore.

Ambuja Cements was quoting at Rs 563.70, up Rs 0.20, or 0.04 percent.

It has touched an intraday high of Rs 565 and an intraday low of Rs 561.

It was trading with volumes of 11,220 shares, compared to its five day average of 78,593 shares, a decrease of -85.72 percent.

In the previous trading session, the share closed down 1.35 percent or Rs 7.70 at Rs 563.50.

The share touched a 52-week high of Rs 625 and a 52-week low of Rs 455 on 22 July, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 9.81 percent below its 52-week high and 23.89 percent above its 52-week low.

Market capitalisation stands at Rs 139,336.69 crore.

Tribhovandas Bhimji Zaveri was quoting at Rs 179.05, up Rs 16.90, or 10.42 percent.

It has touched an intraday high of Rs 182.35 and an intraday low of Rs 166.95.

It was trading with volumes of 616,640 shares, compared to its five day average of 5,094 shares, an increase of 12,004.75 percent.

In the previous trading session, the share closed down 1.19 percent or Rs 1.95 at Rs 162.15.

The share touched a 52-week high of Rs 254.90 and a 52-week low of Rs 155.35 on 08 January, 2025 and 18 March, 2025, respectively.

Currently, the stock is trading 29.76 percent below its 52-week high and 15.26 percent above its 52-week low.

Market capitalisation stands at Rs 1,194.81 crore.

The company’s subsidiary, Biocon Biologics, will introduce three new oncology biosimilars at the JP Morgan Healthcare Conference in San Francisco, further strengthening its comprehensive cancer portfolio.

Emmvee Photovoltaic Power was quoting at Rs 215.75, up Rs 15.65, or 7.82 percent.

It has touched an intraday high of Rs 218.25 and an intraday low of Rs 200.10.

It was trading with volumes of 467,524 shares, compared to its five day average of 175,406 shares, an increase of 166.54 percent.

In the previous trading session, the share closed up 8.25 percent or Rs 15.25 at Rs 200.10.

The share touched a 52-week high of Rs 248.35 and a 52-week low of Rs 171.50 on 03 December, 2025 and 18 December, 2025, respectively.

Currently, the stock is trading 13.13 percent below its 52-week high and 25.8 percent above its 52-week low.

Market capitalisation stands at Rs 14,937.34 crore.

#1 Q3 pre-sales, a record, tad above 22 percent growth estimate

#2 Raise the 9MFY26 growth to 14 percent

#3 Management has reiterated its 20 percent pre-sales growth guidance

#4 Management believes large new projects raise medium term growth perspective

#5 Large new projects should drive better margin ahead

The senior management of ONGC, including Director (Technology & Field Services) Vikram Saxena from Delhi, along with Crisis Management Team (CMT) experts, has assumed operational control of Well Mori-5 at Irusumanda, Malkipuram Mandal, following the incident at the site.

A gradual reduction in flame intensity and size is being witnessed.

Oil and Natural Gas Corporation was quoting at Rs 241.30, down Rs 0.60, or 0.25 percent.

It has touched an intraday high of Rs 241.65 and an intraday low of Rs 239.

It was trading with volumes of 149,278 shares, compared to its five day average of 495,439 shares, a decrease of -69.87 percent.

Gold prices slid on Wednesday as investors booked profits after prices briefly climbed to a more than one-week high in earlier trade as a stronger dollar weighed on sentiment across the precious metals complex ahead of key U.S. jobs data due this week.

Spot gold fell 0.7% to $4,466.19 per ounce. Bullion touched a record high of $4,549.71 on December 26.

U.S. gold futures for February delivery were 0.4% lower at $4,477.30.

Balu Forge Industries was quoting at Rs 466.85, down Rs 116.70, or 20 percent.

It has touched an intraday high of Rs 575.00 and an intraday low of Rs 466.85.

There were pending sell orders of 1,713 shares, with no buyers available.

It was trading with volumes of 353,189 shares, compared to its five day average of 16,478 shares, an increase of 2,043.42 percent.

In the previous trading session, the share closed down 1.78 percent or Rs 10.55 at Rs 583.55.

The share touched a 52-week high of Rs 784 and a 52-week low of Rs 429 on 12 June, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 40.45 percent below its 52-week high and 8.82 percent above its 52-week low.

Market capitalisation stands at Rs 5,368.40 crore.

Lupin was quoting at Rs 2,210.85, up Rs 58.90, or 2.74 percent.

It has touched an intraday high of Rs 2,211.70 and an intraday low of Rs 2,144.55.

It was trading with volumes of 23,555 shares, compared to its five day average of 76,462 shares, a decrease of -69.19 percent.

In the previous trading session, the share closed up 3.55 percent or Rs 73.75 at Rs 2,151.95.

The share touched a 52-week high of Rs 2,373 and a 52-week low of Rs 1,774 on 08 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 6.83 percent below its 52-week high and 24.63 percent above its 52-week low.

Market capitalisation stands at Rs 100,991.36 crore.

The company’s subsidiary, Biocon Biologics, will introduce three new oncology biosimilars at the JP Morgan Healthcare Conference in San Francisco, further strengthening its comprehensive cancer portfolio.

Swiggy was quoting at Rs 361.65, up Rs 0.35, or 0.10 percent.

It has touched an intraday high of Rs 366.55 and an intraday low of Rs 360.45.

In the previous trading session, the share closed down 4.42 percent or Rs 16.70 at Rs 361.30.

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 30.55 percent below its 52-week high and 21.77 percent above its 52-week low.

Market capitalisation stands at Rs 99,826.74 crore.

The Sensex was down 123.74 points or 0.15 percent at 84,939.60, and the Nifty was down 0.14 percent at 26,140.80. About 1593 shares advanced, 1576 shares declined, and 162 shares unchanged.