Taking Stock: Nifty slips below 23,550, Sensex sheds 528 pts; FMCG bucks sector-wide decline

Market Today

Indian equity market extended the previous session losses on January 9 with Nifty finishing below 23,550 amid selling across the sectors baring FMCG.

Despite mixed global markets, benchmark indices opened flat, but soon bears took charge and dragged the Nifty near 23,500, intraday before closing near day's low.

At close, the Sensex was down 528.28 points or 0.68 percent at 77,620.21, and the Nifty was down 162.45 points or 0.69 percent at 23,526.50.

Shriram Finance, ONGC, Tata Steel, Coal India, BPCL were among the top losers on the Nifty, while gainers included HUL, Britannia Industries, Nestle India, M&M, Bajaj Auto.

Among sectors, except FMCG all other indices ended in the red with capital goods, IT, metal, oil & gas, PSU Bank, power, realty down 1-2 percent.

BSE Midcap and smallcap indices shed 1 percent each.

Nearly 120 stocks touched their 52-week low on the BSE, including Network 18, Sun Pharma Advanced, Bandhan Bank, Mahindra Life, Tata Technologies, Yes Bank, Sona BLW, Rajesh Exports, Alok Industries, Relaxo Footwear, IRCTC, NMDC Steel, among others. Click here to view full list

Outlook for January 10

Index	Prices	Change	Change%
Sensex	85,720.38	110.87	+0.13%
Nifty 50	26,215.55	10.25	+0.04%
Nifty Bank	59,737.30	209.25	+0.35%

Nifty 50 26,215.55 10.25 (0.04%)

Thu, Nov 27, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Bajaj Finance	1,033.80	23.10	+2.29%

Biggest Loser	Prices	Change	Change%
Eicher Motors	6,999.00	-199.50	-2.77%

Best Sector	Prices	Change	Change%
Nifty Bank	59737.30	209.20	+0.35%

Worst Sector	Prices	Change	Change%
Nifty Energy	35756.20	-208.60	-0.58%

Aditya Gaggar Director of Progressive Shares

The market had a difficult session, with the Index extending its losses and approaching the lows from the previous session. It ended the day in negative territory at 23,526.50 with a loss of 162.45 points. With almost all sectors, except FMCG, closing in the red. Realty and Energy sectors were the worst performers.

In terms of broader market performance, Midcaps mirrored the Frontline Index, while Smallcaps lagged.

Looking at the daily chart, the Index is currently at a crucial support level of around 23,500. If this support is broken, it could drag the Index lower to the next level at 23,260, which corresponds to a previous swing low. On the other hand, for the uptrend to resume, the Index would need to break above the 23,800-23,900 range.

Vatsal Bhuva, Technical Analyst at LKP Securities

The Nifty index closed slightly above its critical support at 23,500 on Thursday, forming a bearish candlestick below the 200-day EMA, signaling caution. A follow-up breach below 23,500 would validate a sell-on-rise strategy, with further downside expected. Conversely, holding this support may lead to consolidation. For the short term, 23500 acts as a key support, while resistance is placed at 23800, capping any upside. Traders should monitor these levels closely, as they will dictate the index's immediate directional trend.

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.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.