Benchmark Indices Give Up Gains and End in Red, Sensex & Nifty 50 Down Close to 0.50 Per Cent

Indian equity markets reversed midday gains to close lower, with the Sensex falling 0.43 per cent to 76,190.46 and the Nifty 50 declining 0.49 per cent to 23,092.20.

Market Update at 3:30 PM: Indian equity markets reversed midday gains to close lower, with the Sensex falling 0.43 per cent to 76,190.46 and the Nifty 50 declining 0.49 per cent to 23,092.20.

Broader indices mirrored the weakness as the Nifty Midcap 150 dropped 1.69 per cent to 19,708.95 and the Nifty Smallcap 250 fell 2.15 per cent to settle at 16,001.70. The India VIX rose marginally by 0.29 per cent to 16.75, indicating slightly higher market volatility.

Among sectoral indices, Nifty FMCG and Nifty IT emerged as the best performers, gaining 0.52 per cent and 0.40 per cent, respectively. In contrast, Nifty Media, Nifty Healthcare Index, and Nifty Pharma were the top laggards, posting losses of 2.60 per cent, 2.11 per cent, and 2.11 per cent, respectively.

Within the Nifty 50, Hindustan Unilever led the pack with a gain of 2.52 per cent, followed by Britannia and Eicher Motors, which advanced 1.74 per cent and 1.45 per cent, respectively. On the downside, Dr. Reddy’s Laboratories was the biggest loser, declining 4.90 per cent, while Trent and Mahindra & Mahindra shed 4.09 per cent and 3.03 per cent, respectively.

Market breadth remained decisively negative, with 2,183 stocks declining against just 635 stocks advancing, reflecting broad-based selling pressure across segments.

Market Update at 12:20 AM: Indian equity markets showed a mixed trend by midday today, with the Sensex climbing 0.47 per cent to 76,878.56 and the Nifty 50 advancing 0.48 per cent to 23,317.85.

Broader indices, however, reflected weakness, as the Nifty Midcap 150 fell 0.38 per cent to 19,972.10, and the Nifty Smallcap 250 dropped 0.81 per cent to trade at 16,220.25.

Market volatility eased slightly, with the India VIX slipping 0.80 per cent to 16.56, hinting at a marginal reduction in market uncertainty.

Among sectoral indices, Nifty IT, Nifty FMCG, and Nifty Metal emerged as the leading gainers, posting increases of 1.27 per cent, 0.71 per cent, and 0.99 per cent, respectively. On the other hand, Nifty Media, Nifty Pharma, and Nifty Healthcare Index were the top laggards, declining 1.45 per cent, 1.20 per cent, and 1.14 per cent, respectively.

Within the Nifty 50, Grasim led the pack with a gain of 2.08 per cent, followed by Power Grid and Tata Steel, which rose 2.04 per cent and 1.86 per cent, respectively. Conversely, Dr. Reddy's Laboratories experienced the sharpest decline, shedding 4.63 per cent, while Tata Motors and Apollo Hospitals fell 1.10 per cent each.

Market breadth remained negative, with 1,738 stocks declining compared to 860 stocks advancing, reflecting broad-based selling pressure across segments.

Market Update at 9:40 AM: Indian equity markets opened on a flat note today, with the Sensex inching up 0.02 per cent to 76,534.22 and the Nifty 50 slipping marginally by 0.02 per cent to trade at 23,200.35. Broader indices reflected a bearish tone, with both midcap and smallcap segments witnessing declines.

The Nifty Midcap 150 dropped 0.41 per cent to 19,965.55, and the Nifty Smallcap 250 shed 0.62 per cent, trading at 16,252.00. Meanwhile, the volatility index, India VIX, rose 2.30 per cent to 17.08, indicating a rise in market uncertainty.

Among sectoral indices, Nifty IT, Nifty Metal, and Nifty FMCG emerged as the Top Gainers, showcasing resilience. On the other hand, Nifty Pharma, Nifty Media, and Nifty Healthcare Index led the laggards.

In the Nifty 50, Power Grid, BPCL, and NTPC were the top gainers, posting gains of 1.65 per cent, 1.29 per cent, and 1.16 per cent, respectively. Conversely, Dr. Reddy's Laboratories, Apollo Hospitals, and SBI Life Insurance topped the list of losers, with declines of 5.11 per cent, 1.39 per cent, and 1.31 per cent, respectively.

Market breadth was tilted towards declines, with 1,454 stocks falling compared to 874 stocks advancing, highlighting a negative trend across segments.

Market Update 8:15 AM: U.S. equities hit new highs on Thursday, with the S&P 500 closing at a record and the Nasdaq crossing 20,000. The Dow also extended its winning streak, driven by optimism from corporate earnings and President Trump's remarks on interest rates and oil prices.

Asian markets opened higher on Friday, buoyed by a strong rebound in technology stocks that fueled Wall Street's rally.

The GIFT Nifty hints at a positive start for Indian markets, with Nifty futures trading slightly lower at 23,303.50 as of 7:20 am IST.

India’s benchmark indices, Sensex and Nifty, extended their gains for a second day on January 23, closing higher, albeit below intraday peaks. Broader markets, particularly midcap and smallcap indices, outperformed after recovering from the prior session's selloff.

U.S. Treasury yields continued their downward trend early Friday, with the 10-Year yield dropping 22 basis points to 4.63 per cent and the 2-Year yield falling 35 basis points to 4.27 per cent.

The dollar index, which tracks the greenback against six major peers, edged slightly higher in early trade on Friday, standing at 108.25.

WTI crude oil futures slid toward USD 74 per barrel on Friday, marking its sixth straight decline and worst weekly performance since November. The drop followed President Trump's push for lower oil prices during his Davos address.

Foreign Institutional Investors (FIIs) remained net sellers for the 15th consecutive session, offloading equities worth Rs 5,462.52 crore on January 23. Domestic Institutional Investors (DIIs), however, countered the selling pressure by purchasing equities worth Rs 3,712 crore on the same day.

Aditya Birla Fashion and Retail, Bandhan Bank, Can Fin Homes, Dixon Technologies, IndiaMART InterMESH, L&T Finance, Manappuram Finance, Mahanagar Gas, and Punjab National Bank are under F&O ban today.

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