Markets Continue to Face Pressure, End the Week on a Negative Note

The Sensex declined by 0.31 per cent to settle at 77,378.91, while the Nifty 50 shed 0.40 per cent to close at 23,431.50.

Market Update at 3:30 PM: The markets closed the day in the red, extending their recent downturn. The Sensex declined by 0.31 per cent to settle at 77,378.91, while the Nifty 50 shed 0.40 per cent to close at 23,431.50.

In the broader indices, the Nifty Midcap 150 fell by 2.04 per cent to end at 20,252.95, while the Nifty Smallcap 250 witnessed a sharper decline of 2.44 per cent, finishing at 16,833.40. The India VIX, a measure of market volatility, rose by 1.75 per cent to 14.92, indicating heightened investor unease.

Among sectoral indices, Nifty IT emerged as the top outperformer, advancing by 3.44 per cent. It was followed by Nifty FMCG, which declined the least, by 0.66 per cent, and Nifty Oil & Gas, down by 1.06 per cent. On the other hand, Nifty Media was the worst performer, plunging by 3.59 per cent, trailed by Nifty MidSmall Healthcare and Nifty Realty, which fell by 3.14 per cent and 2.77 per cent, respectively.

In the Nifty 50, TCS led the gainers' pack with an impressive rise of 5.60 per cent, followed by Tech Mahindra and HCL Tech, which gained 3.59 per cent and 3.22 per cent, respectively. On the losing side, Shriram Finance plunged 5.30 per cent, followed by IndusInd Bank and Adani Enterprises, declining by 4.29 per cent and 3.95 per cent, respectively.

The market breadth showed a significant bearish tilt, with 2,287 stocks declining compared to just 551 stocks advancing on the NSE, reflecting the broad-based selling pressure across sectors.

Market Update at 9:40 AM: The equity markets opened on a subdued note today, extending their recent losing streak, with the broader indices witnessing significant pressure. As of now, the Sensex slipped by 0.22 per cent to trade at 77,451.24, while the Nifty 50 fell by 0.34 per cent, standing at 23,447.55.

In the broader market indices, the Nifty Midcap 150 dropped 1.33 per cent to 20,398.25, and the Nifty Smallcap 250 tumbled 1.92 per cent to 16,922.40. Market volatility rose as the India VIX surged 3.47 per cent to settle at 15.17, reflecting heightened uncertainty.

Among the sectoral indices, the Top Gainers were Nifty IT, Nifty Healthcare Index, and Nifty Financial Services. Conversely, Nifty Media and Nifty PSU Bank were the major laggards.

Within the Nifty 50, the top performers included TCS, gaining 3.70 per cent, followed by Tech Mahindra and Infosys, which advanced 2.51 per cent and 1.62 per cent, respectively. On the downside, the biggest decliners were Shriram Finance, losing 3.48 per cent, followed by IndusInd Bank and Adani Enterprises, which fell by 2.85 per cent and 2.69 per cent, respectively.

The market breadth remained firmly negative, with 2,073 stocks declining, compared to only 312 advancing, highlighting persistent weakness across the board.

Pre-Market Update at 8:15 AM: Indian markets are poised for a weak start on January 10, as GIFT Nifty signals a decline. Nifty futures were trading around 23,586.50, indicating a drop.

Wall Street remained closed overnight in observance of a day of honour for former US President Jimmy Carter.

Asian equities were under pressure early Thursday, reflecting caution ahead of critical jobs data that could influence the Federal Reserve's rate trajectory.

On January 9, Indian equity markets extended their losses, with the Nifty closing below the 23,550 mark amid broad-based sectoral selling, except for FMCG stocks. The Sensex ended the session 528.28 points or 0.68 per cent lower at 77,620.21, while the Nifty dropped 162.45 points or 0.69 per cent to close at 23,526.50.

The US 10-year Treasury yield fell by 30 basis points to 4.67 per cent, while the 2-year Treasury yield declined by 20 basis points to 4.25 per cent in early Thursday trade.

The US dollar index held steady at 109.20, continuing its longest weekly winning streak in over a year, buoyed by expectations of robust US jobs data and rising bond yields.

WTI crude oil futures climbed above USD 74 per barrel, extending gains as colder temperatures are projected to boost heating fuel demand. Supply concerns also supported prices. However, weak demand signals from China and a stronger US dollar capped the upside.

Foreign institutional investors (FIIs) remained net sellers for the fifth consecutive session, offloading equities worth Rs 7,170 crore on January 9. Meanwhile, domestic institutional investors (DIIs) purchased shares worth Rs 7,639 crore.

Bandhan Bank, Hindustan Copper, Manappuram Finance, L&T Finance, and RBL Bank are under the F&O trading ban today.

Disclaimer: The article is for informational purposes only and not investment advice.