Taking Stock: Nifty below 23,450, Sensex down 241 pts; IT stocks rally post-TCS Q3 results

Market Today

The Indian market ended lower during a highly volatile session on January 10 with Nifty falling below 23,350, led by selling across the sectors, barring IT stocks, which rallied post TCS' above estimate Q3 numbers.

Despite weak Asian markets, benchmark indices opened higher but erased all the gains in the opening hour and gyrated between gains and losses throughout the sessions before closing on a negative note.

At close, the Sensex was down 241.30 points or 0.31 percent at 77,378.91, and the Nifty was down 95 points or 0.40 percent at 23,431.50.

For the week, BSE Sensex and Nifty fell more than 2 percent.

TCS, Tech Mahindra, Wipro, Infosys, HCL Technologies were among major gainers on the Nifty, while losers were Shriram Finance, IndusInd Bank, Adani Enterprises, NTPC and Bharat Electronics.

BSE midcap index shed 1.2 percent and smallcap index slipped 2.4 percent.

Except IT, all other sectoral indices ended in the red with power, PSU, realty, healthcare, PSU Bank down 2 percent each.

Outlook for January 13

Index	Prices	Change	Change%
Sensex	84,426.34	62.97	+0.07%
Nifty 50	25,868.60	25.45	+0.10%
Nifty Bank	58,007.20	-26.00	-0.04%

Nifty 50 25,868.60 25.45 (0.10%)

Tue, Oct 21, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Cipla	1,663.60	24.50	+1.49%

Biggest Loser	Prices	Change	Change%
Kotak Mahindra	2,197.00	-16.80	-0.76%

Best Sector	Prices	Change	Change%
Nifty Metal	10232.80	40.90	+0.40%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	7853.30	-4.55	-0.06%

Prashanth Tapse, Senior VP (Research), Mehta Equities

Markets continued its downward trajectory as rupee scaling new lows due to strengthening dollar has further dampened investors’ sentiment. Amid concerns of subdued economic growth and expectations of a slowdown in the quarterly earnings, investors cut their bet on banking and mid & small cap stocks. With expensive valuations of Indian markets at large still a concern, investors would mostly resort to stock specific activities.

Ajit Mishra – SVP, Research, Religare Broking

Markets witnessed heightened volatility, continuing their downward trend, and ended nearly half a percent lower. Despite a partial recovery from intraday lows, driven by a rally in IT stocks following TCS's results, sector-wide weakness resulted in a negative close. Except for IT, all other sectors faced selling pressure, with pharma, banking, and realty leading the declines. Broader indices suffered even steeper losses, falling around 2%-2.5%.

The market remains under strain, with even minor pullbacks attracting selling pressure. In the absence of any clear signs of a trend reversal, particularly in the banking index, traders are advised to use rebounds as shorting opportunities. Caution should remain a priority, with a focus on robust risk management. Additionally, as the earnings season kicks off, erratic market swings are likely to intensify. Adopting a hedged approach and maintaining disciplined position sizing is recommended for navigating the current conditions.

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