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Indian Indices - Live Markets

MARKET HIGHLIGHTS
Jan 23, 16:18 IST

Ajit Mishra – SVP, Research, Religare Broking

Markets remained volatile and declined nearly one percent, resuming the prevailing corrective trend. The Nifty index opened in positive territory on easing geopolitical tensions but soon gave up its gains and drifted lower amid persistent selling pressure, eventually settling near the day’s low at 25,048.65. Selling was broad-based, with realty, energy and banking stocks among the key laggards, while only a few defensive and select cyclical names provided limited support. Broader market indices also mirrored the weakness, with midcap and smallcap indices falling close to two percent each, highlighting widespread risk-off positioning and cautious participation.

Market sentiment was weighed down by renewed concerns over global trade and geopolitical developments, along with continued foreign institutional selling. Currency weakness further added to the negative bias, as the Indian rupee slipped to fresh lows against the US dollar during the session. In the absence of strong domestic triggers, trading remained largely stock-specific, marked by selective buying and pronounced selling across the broader market.

Technically, the Nifty has slipped below its long-term moving average, the 200 DEMA, which signals the possibility of further downside. The 24,750–24,900 zone now emerges as the next key support area, while the 25,300–25,400 zone is likely to act as an immediate hurdle in case of any rebound. That said, select pockets continue to show resilience and are offering buying opportunities. In this environment, participants are advised to maintain a selective and balanced approach, take positions on both sides based on sectoral strength and weakness, and keep a strict check on position sizing.

Jan 23, 16:08 IST

Gaurav Garg, Lemonn Markets Desk

Indian equity markets closed sharply lower on Friday, paring early gains as persistent FII selling and profit-booking at higher levels kept sentiment under pressure. The Sensex, which opened on a positive note and briefly moved above 82,500, reversed direction through the session to end nearly 1 percent lower. The Nifty mirrored this weakness, slipping below its 200-day moving average and closing near the day’s lows, signalling continued fragility in the broader market structure.

Relentless foreign fund outflows remained the dominant drag, with FIIs extending their selling streak and maintaining a clear sell-on-rallies stance amid concerns over earnings visibility and relatively expensive valuations. Tepid quarterly results from index heavyweights such as ICICI Bank and HCL Technologies further weighed on sentiment, reinforcing worries that a meaningful earnings recovery is still some time away. Rising crude oil prices and a sharply weaker rupee, which hit a fresh record low despite RBI intervention, added to macro concerns around inflation and the trade deficit.

Sectorally, banks and select large caps faced heavy pressure, while Adani Group stocks saw sharp selling following reports of fresh legal developments in the US. Selective strength in pharma and metals provided limited support. Technically, the Nifty’s break below key averages keeps the near-term trend negative, suggesting that any bounce may remain tactical rather than trend-changing.

Jan 23, 16:01 IST

Abhinav Tiwari Research Analyst at Bonanza

Today, the Indian equity markets closed sharply lower. The Sensex fell 0.95%, to close at 81,537, while the Nifty 50 declined by 0.95%, to close at 25,048. This marked a clear reversal from the previous session’s recovery, with selling pressure seen across all sectors. Investors turned cautious ahead of the Union Budget 2026 amid rising domestic and global uncertainties.

The biggest trigger for the market fall was news related to the Adani Group. Reports indicated that the US Securities and Exchange Commission is seeking court approval to directly serve summons on Gautam Adani and Sagar Adani over alleged fraud and bribery charges. Following this, Adani group stocks saw heavy selling, with sharp losses across key companies. Although the group denied the allegations, the development increased uncertainty and hurt overall market sentiment.

Fintech stocks also came under pressure after the Payments Infrastructure Development Fund (PIDF) scheme ended on December 31, 2025. The withdrawal of RBI subsidies raised concerns about margin pressure for payment companies, as they now need to fund expansion on their own. While digital payment growth remains strong in the long term, near term profitability concerns weighed on valuations.

Global factors added to the risk off mood. Rising tensions between the US and Iran increased geopolitical uncertainty, raising fears of crude oil volatility and potential foreign fund outflows.

On the sectoral front, realty, media, and PSU banks led the losses. Broader markets were also weak, with midcap and smallcap indices falling up to 2%. Going ahead, the Union Budget and foreign investor flows will act as key triggers for direction.

Jan 23, 15:45 IST

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Nifty spent the initial couple of hours of the session within a descending triangle pattern, before a breakdown triggered sustained selling pressure through the day. The Index formed a sizeable bearish candle on the daily chart and closed decisively below its key long-term support of the 200-day EMA. Momentum indicators continue to weaken, with the RSI slipping below the 30 mark, indicating oversold conditions, while a rising ADX highlights strengthening bearish trend intensity.

On the sectoral front, none of the sectors ended the day in green. On the other hand, Nifty Realty and Media emerged as the top two sectoral losers, both losing over 2.5% each. With regards to stocks, Dr Reddy & ONGC emerged as the top stock gainers amongst the Nifty pack while Adani Ports & Adani Enterprises emerged as the top two losers.

The Midcap Index largely mirrored the weakness seen in Nifty. The index closed below its 200-day EMA and also broke down from an upward-sloping trendline, drawn connecting the swing lows of 55,660 (29th August 2025) and 56,196 (30th September 2025). The breakdown suggests a loss of medium-term structure and increasing downside risk.

For the Smallcap Index, the earlier support of 16,782 (9th December) has now turned into a strong resistance zone. The index attempted to reclaim this level but failed to sustain above it, leading to renewed selling pressure. It eventually drifted lower to close below the 16,400 mark, keeping the near-term outlook cautious.

The market breadth deteriorated as the advance-decline ratio was heavily skewed in the favour of bears at day’s close. A total of 426 stocks out of the Nifty 500 universe ended in the red.

Nifty View

Going ahead, the key support for Nifty is placed in the 24,850–24,800 zone, which coincides with the upward-sloping trendline, drawn by connecting the swing lows of 24,338 (8th August) and 24,405 (29th August). A decisive breakdown below this zone could result in Nifty extending its weakness towards 24,500, followed by 24,300 in the near term. On the upside, the 25,250–25,300 zone is expected to act as a strong resistance area, limiting any pullback attempts.

Bank Nifty View

Bank Nifty traded in a narrow sideways range during the first couple of hours before succumbing to selling pressure and drifting lower on an intraday basis, eventually closing below the 58,500 level. On the daily chart, the index has slipped below its 50-day EMA, reflecting short-term trend weakness. Notably, the MACD has moved below the zero line for the first time since October 2025, reinforcing the emerging bearish bias.

For Bank Nifty, the immediate support is seen in the 58,100–58,000 zone, which aligns with the 100-day EMA, making it a crucial demand area to watch. A sustained breakdown below this zone could open the door for further downside towards 57,500, followed by 57,000 in the near term. On the upside, the 58,900–59,000 zone is likely to act as a strong resistance, keeping any recovery attempts capped.

  • Advances 12
  • Declines 38
  • Unchanged 0

Live Markets

Name LTP Chg %Chg Open High Low 52 Week High 52 Week Low Technical Rating
Key Indices

NIFTY 50

25,048.65 -241.25 -0.95 25,344.60 25,347.95 25,025.30 26,373.20 21,743.65 Technical Rating

NIFTY BANK

58,473.10 -727.00 -1.23 59,305.15 59,400.15 58,346.25 60,437.35 47,702.90 Technical Rating

NIFTY Midcap 100

57,145.65 -1,045.65 -1.80 58,410.35 58,416.20 57,048.90 61,548.85 46,865.70 Technical Rating

NIFTY NEXT 50

66,260.55 -1,332.25 -1.97 67,829.20 67,834.25 66,109.75 70,833.65 56,192.45 Technical Rating

NIFTY 100

25,570.50 -289.75 -1.12 25,921.80 25,922.90 25,541.65 26,975.15 22,177.35 Technical Rating

Nifty 200

13,889.10 -174.80 -1.24 14,100.90 14,101.60 13,872.20 14,700.95 11,941.45 Technical Rating

NIFTY 500

22,706.20 -302.55 -1.31 23,072.30 23,073.35 22,679.70 24,144.20 19,519.85 Technical Rating

NIFTY Smallcap 100

16,352.75 -324.50 -1.95 16,765.40 16,770.85 16,326.35 19,224.95 14,084.30 Technical Rating

NIFTY MIDCAP 50

16,348.15 -323.85 -1.94 16,740.90 16,742.40 16,320.50 17,572.45 13,269.65 Technical Rating

NIFTY SMLCAP 50

7,984.55 -156.10 -1.92 8,189.10 8,193.15 7,971.35 9,282.70 6,776.05 Technical Rating

India VIX

14.19 0.84 6.29 13.35 14.43 12.28 23.18 8.72 Technical Rating

NIFTY 750 TOTAL MKT

12,720.00 -173.30 -1.34 12,929.55 12,930.15 12,705.40 12,930.15 0.00 Technical Rating
Sectoral Indices

NIFTY Auto

26,804.55 -305.65 -1.13 27,171.05 27,230.85 26,766.70 29,179.10 19,316.65 Technical Rating

NIFTY IT

38,238.50 -63.25 -0.17 38,513.70 38,576.65 38,149.30 43,959.15 30,918.95 Technical Rating

NIFTY PSU Bank

8,781.05 -203.75 -2.27 9,030.10 9,030.10 8,753.75 9,093.65 5,530.35 Technical Rating

NIFTY Fin Service

26,821.35 -328.60 -1.21 27,193.45 27,226.25 26,779.05 28,065.50 22,320.85 Technical Rating

NIFTY Pharma

21,722.25 -205.75 -0.94 22,007.05 22,033.50 21,676.40 23,492.55 19,121.10 Technical Rating

NIFTY FMCG

51,662.05 -316.35 -0.61 52,135.60 52,217.50 51,594.10 59,302.55 50,199.35 Technical Rating

NIFTY Metal

11,477.80 -95.90 -0.83 11,673.95 11,783.90 11,460.75 11,783.90 7,690.20 Technical Rating

NIFTY Realty

756.35 -26.15 -3.34 785.85 785.95 754.55 1,049.70 754.55 Technical Rating

NIFTY Media

1,351.55 -34.80 -2.51 1,396.20 1,397.00 1,346.15 1,786.15 1,339.80 Technical Rating

NIFTY Energy

33,098.30 -648.70 -1.92 33,867.30 33,867.30 33,055.30 36,938.90 29,313.20 Technical Rating

Nifty Pvt Bank

28,001.95 -304.75 -1.08 28,362.45 28,424.95 27,930.90 29,059.00 23,508.05 Technical Rating

NIFTY Infra

8,926.05 -153.60 -1.69 9,097.15 9,097.15 8,914.70 9,792.60 7,589.95 Technical Rating

NIFTY Commodities

9,333.70 -131.00 -1.38 9,501.40 9,526.60 9,322.50 9,786.80 7,502.95 Technical Rating

NIFTY Consumption

11,532.80 -159.35 -1.36 11,722.45 11,722.45 11,519.90 12,716.20 10,090.65 Technical Rating

NIFTY PSE

9,614.40 -150.80 -1.54 9,802.30 9,802.30 9,595.90 10,225.55 7,956.45 Technical Rating

NIFTY Services

32,707.95 -336.05 -1.02 33,113.70 33,130.95 32,665.55 34,216.65 29,070.85 Technical Rating

Nifty FinSrv25/50

29,285.90 -334.70 -1.13 29,653.50 29,691.30 29,242.85 29,691.30 0.00 Technical Rating

Nifty Cons Durbl

34,156.60 -282.20 -0.82 34,579.55 34,731.65 34,093.25 40,472.45 32,205.30 Technical Rating

Nifty Healthcare

13,957.30 -116.70 -0.83 14,119.65 14,160.10 13,928.20 15,144.95 12,561.70 Technical Rating

Nifty Oil & Gas

11,306.65 -136.70 -1.19 11,477.20 11,477.75 11,292.60 12,445.70 9,327.50 Technical Rating

NIFTY India Mfg

14,780.00 -157.45 -1.05 15,002.00 15,014.10 14,762.05 15,014.10 0.00 Technical Rating

Nifty India Defence

7,522.10 -138.05 -1.80 7,690.15 7,690.15 7,507.30 7,690.15 0.00 Technical Rating
Other Indices

NIFTY MIDCAP 150

21,008.55 -367.45 -1.72 21,451.75 21,453.75 20,976.00 22,650.05 17,269.50 Technical Rating

NIFTY MIDSML 400

18,891.85 -345.55 -1.80 19,308.65 19,310.65 18,862.00 20,668.15 15,832.85 Technical Rating

NIFTY SMLCAP 250

15,314.60 -304.20 -1.95 15,681.50 15,683.60 15,288.80 18,077.35 13,314.70 Technical Rating

NIFTY MNC

30,018.40 -261.75 -0.86 30,410.20 30,415.25 29,993.00 31,140.00 23,981.05 Technical Rating

NIFTY AlphaLowVol 30

26,283.25 -261.45 -0.98 26,584.75 26,589.95 26,255.95 26,589.95 0.00 Technical Rating

Nifty200 Momentum 30

30,190.10 -453.45 -1.48 30,768.90 30,812.70 30,148.00 30,812.70 0.00 Technical Rating

Nifty LargeMid250

16,021.80 -230.50 -1.42 16,300.40 16,301.15 16,001.25 17,077.75 13,526.30 Technical Rating

Nifty500 Mul50:25:25

15,566.45 -232.60 -1.47 15,847.55 15,848.45 15,548.50 16,681.75 13,318.60 Technical Rating

NIFTY CPSE

6,396.70 -84.25 -1.30 6,501.75 6,501.75 6,384.00 6,681.80 5,284.25 Technical Rating

NIFTY MID SELECT

13,066.65 -258.80 -1.94 13,388.30 13,388.90 13,044.05 14,118.40 10,382.55 Technical Rating

NIFTY IND DIGITAL

8,995.35 -163.45 -1.78 9,196.90 9,202.00 8,978.20 9,723.25 7,334.40 Technical Rating

NIFTY M150 QLTY50

22,819.15 -337.50 -1.46 23,239.80 23,249.90 22,791.40 23,249.90 0.00 Technical Rating

Nifty Microcap 250

20,526.10 -449.80 -2.14 21,062.95 21,065.10 20,465.90 21,065.10 0.00 Technical Rating

Nifty Capital Market

4,487.20 -80.00 -1.75 4,593.15 4,600.60 4,481.30 4,600.60 0.00 Technical Rating
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