Indian equities closed lower for the second consecutive session after a choppy day. The Nifty 50 swung between 25,603 and 25,899 before settling at 25,732.30 (‑0.22 %), while the BSE Sensex fell 250 points to 83,627.69 (‑0.30 %). Early gains evaporated as heavyweights in capital goods, FMCG and realty came under pressure and investors booked profits. The Bank Nifty ended around 59,600 (+0.2 %) – outperforming the benchmarks – because state‐owned lenders such as ICICI Bank and SBI held firm, but the broader market was mixed with the NSE mid‑cap index slipping slightly and the small‑cap index closing higher. Futures on GIFT Nifty closed at 25,771 (‑0.70 %), hinting at caution ahead of the next session.
Top indices (13 Jan 2026 close)
Index
Close
Change
Nifty 50
25,732.30
‑0.22 %
Sensex
83,627.69
‑0.30 %
Bank Nifty
≈59,600
+0.2 %
Nifty Mid‑Cap
Slight loss
Nifty Small‑Cap
Slight gain
Sectoral performance
Gainers: Nifty PSU Bank index added about 0.8 % as investors rotated into public sector banks; Nifty IT and metal indices also closed in the green on renewed buying in tech majors and metals.
Losers: Nifty FMCG, capital goods, pharma and realty indices slipped between 0.3 % and 0.5 %. Nifty Infra dropped more than 1 %, dragged lower by heavyweights Larsen & Toubro and Reliance Industries.
Nifty Auto eased 0.35 % as profit‐taking emerged after recent gains; Nifty Bank ended in positive territory because of strength in PSU lenders; Nifty IT rose 0.65 % thanks to HCL Tech and TCS.
Key statistics
Market breadth: The advance‑decline ratio was mildly negative on the National Stock Exchange (NSE).
FII/DII flows: Foreign institutional investors sold roughly ₹3,638 crore of Indian equities on 12 January, while domestic institutions bought about ₹5,839 crore (latest available flows). Persistent FII selling weighed on sentiment even as domestic institutions supported the market.
India VIX: The volatility index hovered near 11.4, reflecting continued caution despite the market consolidating.
Rupee & commodities: The rupee slipped to around ₹90.24 per U.S. dollar. Brent crude prices remained elevated near US$83–84 per barrel, adding to inflation worries.
Profit‑taking and technical resistance: The Nifty briefly crossed 25,850 in early trade but faced strong supply near the 26,000 mark, a resistance aligned with the 20‑day exponential moving average. Traders booked profits in recently rallied stocks such as L&T, Trent, BEL and HUL, causing the indices to give up gains.
Geopolitical uncertainty and trade tariffs: Global markets initially ticked higher on expectations of U.S. rate cuts and resilient earnings, but news that the U.S. administration might impose 25 % tariffs on countries trading with Iran unnerved investors. The resulting uncertainty, along with fragile U.S.–India trade negotiations, pushed investors to the sidelines.
Foreign institutional selling: Persistent FII outflows continued to weigh on the market. Despite domestic institutional buying, foreign selling in heavyweights such as Reliance Industries and L&T pressured the indices.
Weak rupee and elevated crude: A weaker Indian rupee and firm crude oil prices fanned inflation fears. Elevated commodity costs hurt consumer stocks and broader market sentiment.
Corporate earnings: Q3 earnings were mixed; positive commentary from HCL Tech and TCS provided some support to IT stocks, whereas disappointment in auto and FMCG earnings contributed to sector weakness.
Global cues: U.S. equity futures were flat; the S&P 500 futures were little changed and Nasdaq 100 futures slipped 0.1 %. Asian markets were mostly higher – the MSCI Asia Pacific index gained around 0.9 % and Hong Kong’s Hang Seng index rose 0.6 % – but the mood turned cautious after tariff headlines and volatility in crude prices.
Stocks to watch
Company
Reason to watch
Bank of Maharashtra
Q3 net profit rose ~23 % YoY; asset quality improved.
Hitachi Energy
Forecasts 36 % revenue growth and nearly 100 % EPS growth in Q3, indicating strong performance ahead.
Puravankara
Received a construction order worth ₹311 crore, bolstering order book.
Indian Energy Exchange (IEX)
Reported high return on equity; shares remain resilient despite market volatility.
Redtape
Promoters sold stake worth about ₹4,600 crore; the stock may remain in focus due to supply overhang.
Ixigo
Upgraded by brokerage; positive outlook could lead to buying interest.
Board approved a QIP (qualified institutional placement) to raise fresh capital.
Zydus Lifesciences
Received U.S. FDA approval for its generic ‘Zycubo’ injection; potential revenue boost.
Corporate updates (selected news)
Financial results: Bank of Maharashtra reported a 23 % rise in Q3 net profit with gross non‑performing assets declining; ICICI Prudential Life posted a 19 % jump in net profit and higher value of new business margin; Indo Thai Securities’ Q3 profit surged sharply; Anand Rathi Wealth delivered robust revenue growth of 25 % with healthy profitability.
Orders and contracts: Va Tech Wabag won a ₹600 crore order from BPCL for a wastewater treatment plant; Puravankara secured a ₹311 crore contract; Hitachi Energy projected strong double‑digit revenue and EPS growth for Q3; KPI Green Energy signed a ₹4,000 crore pact with the Gujarat government for renewable energy projects.
Corporate actions: Zydus Lifesciences received FDA approval for Zycubo injection; Biocon’s board approved a qualified institutional placement (QIP); Redtape promoters sold stakes worth ₹4,600 crore; NLC India plans to list its renewable‐energy subsidiary; Grasim Industries remains in focus due to brokerage upgrades; Indiqube announced an expansion initiative.
Technical outlook and levels for the next session (14 Jan 2026)
Nifty 50: The index formed a small bearish candle, indicating indecision after a failed attempt to reclaim 25,900. Technical indicators suggest consolidation may continue. Support is located around 25,650–25,500, with strong put‐open interest near 25,500. Resistance is placed at 26,000, the 20‑day exponential moving average; a break above could take the index towards 26,100. Failure to hold 25,500 may invite deeper declines to 25,450.
Bank Nifty: The index continues to consolidate within a broad range. Support lies near 58,900, while resistance is around 59,500. Sustained trade above 59,500 could lead to a test of 59,900, whereas a fall below 58,900 may drag it towards 58,300.
India VIX: Low volatility levels (~11.4) suggest complacency; any spike in volatility could lead to abrupt moves.
Options positioning: Open interest analysis shows heavy call writing at 26,000 and put accumulation at 25,500, reinforcing the immediate trading range.
Expected market tone for the next trading day
Global cues remain mixed. Overnight, U.S. markets were steady, while Asian peers displayed cautious gains. The market is likely to remain range‑bound with a mildly negative bias as long as Nifty stays below the 26,000 resistance. Traders should watch for further updates on U.S. trade policy, crude oil prices and currency movements. If Nifty sustains above 25,700 and Bank Nifty holds above 59,000, a gradual rebound toward 26,000–26,100 cannot be ruled out. However, failure to hold 25,650 may trigger more profit‑taking. Short‑term traders should maintain tight stops and focus on stock‑specific action driven by earnings and corporate announcements.
