Volatile session; declines in IT and realty stocks outweighed gains in metals and PSU banks.
NSE Nifty 50
25,665.60
−66.70 pts (−0.26%)
Slip below the 25,700 level; selling in large-cap IT names such as TCS dragged the index lower.
Nifty Bank
≈59,250 – 59,300
slightly negative*
Financials traded mixed; private banks like Axis Bank and IndusInd Bank supported while PSU banks saw profit‑taking.
Nifty Midcap 100
59,770
+0.29%
Mid‑cap basket outperformed the benchmarks, suggesting selective buying in broader market.
Nifty Smallcap 100
≈13,850
+0.67%
Small‑caps remained resilient amid volatility.
* The exact Bank Nifty closing number wasn’t widely reported, but it traded around 59,300 and was largely flat.
Sectoral performance
Sector/Index
Performance
Notes
Nifty Metal
+2.70%
Strongest sector as steel and aluminium producers rallied on the back of rising metal prices. Tata Steel, Hindalco and JSW Steel were notable gainers.
Nifty PSU Bank
+2.13%
PSU banks outperformed; Union Bank of India jumped after reporting improved asset quality and higher Q3 profits.
Nifty IT
−1.08%
Weakest sector. Profit‑taking in TCS, Tech Mahindra and other IT majors dragged the index lower amid mixed global tech cues and caution ahead of earnings.
Nifty Realty
−0.92%
Realty stocks slipped; investors booked profits following a sharp run‑up.
Other sectors
FMCG and Pharma closed mildly in the red (−0.3 % to −0.6 %), while Auto and Oil & Gas were flat to slightly positive.
Key market statistics
Market capitalisation: around ₹466 lakh crore (≈USD 5.17 trillion).
FII/DII flows: Foreign Institutional Investors (FIIs) remained net sellers on 13 January (the latest available figures), selling about ₹1,500 crore of equities. Domestic Institutional Investors (DIIs) bought around ₹1,182 crore, cushioning some of the selling pressure.
Indian rupee: traded near ₹90.29 per USD (down ~0.1 %), reflecting a slightly weaker rupee.
Commodities: Brent crude hovered around US$65.15 per barrel, while gold held near all‑time highs around US$4,612 per ounce. Rising commodity prices supported metal stocks but stoked inflation concerns.
Volatility: India VIX stayed subdued, indicating that traders were comfortable selling calls near 25,800 on Nifty; however, sentiment remained cautious.
Top gainers and losers
Nifty 50 – top gainers (14 Jan 2026)
Stock
Daily move
Drivers
Tata Steel
+3.70 %
Rally in global steel prices and expectations of strong demand supported the stock.
Axis Bank
+2.91 %
Buying in private banks; the stock rebounded after recent profit‑booking.
ONGC
+2.70 %
Oil prices remained elevated, boosting upstream earnings outlook.
NTPC
+2.66 %
Optimism around power demand and improved fuel availability.
UltraTech Cement
+2.26 %
Hopes of higher infrastructure spending ahead of the Budget aided the stock.
Higher raw‑material costs and weak sales data triggered a pullback.
Analysis – what moved the market
Caution ahead of earnings and trade uncertainty: Indian equities remained under pressure as investors awaited a series of Q3 corporate results. Weak guidance from major IT companies (TCS, Tech Mahindra) and concerns over potential U.S. tariffs on countries doing business with Iran weighed on sentiment.
Foreign fund outflows: FIIs were net sellers for the eighth straight session, citing global risk aversion and a stronger U.S. dollar. Persistent FII selling kept rallies in check despite buying from domestic institutions.
Mixed global cues: Asian markets were largely positive — Japan’s Nikkei 225 hit a record high above 54,000 on expectations of fiscal stimulus, and European stocks were supported by gains in utility companies. However, U.S. indices closed lower on 13 January amid cautious sentiment ahead of December PPI data and major bank earnings.
Commodity prices: Crude oil remained elevated and metals rallied. Rising metal prices provided a tailwind to stocks like Tata Steel and Hindalco but higher crude kept pressure on paints and FMCG companies.
Domestic macro factors: A surprise reduction in the marginal cost of funds‑based lending rate by Indian Overseas Bank signalled easing liquidity. Union Bank of India and Bank of Maharashtra reported improved asset quality and higher profits, boosting PSU banks. On the other hand, realty stocks corrected as investors locked in gains after a strong run.
Stocks to watch
ICICI Lombard General Insurance: Reported a 9 % decline in Q3 net profit to ₹659 crore, even though premiums grew. Watch for any follow‑through selling if margins remain under pressure.
Tata Elxsi: Posted 29.6 % YoY profit growth and 17.7 % jump in EBIT but the stock fell sharply on valuation concerns; volatility may persist.
NLC India: Signed a ₹25,000‑crore MoU with the Gujarat government to develop large renewable‑energy projects (solar, wind and battery storage). Positive for medium‑term sentiment.
Indian Overseas Bank: Reduced its overnight MCLR by 5 basis points effective 15 January. Rate cuts could support credit growth.
Interarch Building Solutions: Secured a domestic order worth ₹130 crore, indicating strong infrastructure demand.
Infosys/HDFC AMC: Both reported results after market hours. Infosys’ commentary on FY26 revenue guidance and HDFC AMC’s strong 20 % YoY profit growth will likely influence the next trading day’s sentiment.
Union Bank of India: Jumped over 8 % as Q3 profit rose 9 % YoY and bad‑loan ratios improved. PSU bank rally may continue if earnings remain robust.
Corporate updates
HDFC AMC Q3 FY26: Stand‑alone net profit rose 20 % YoY to ₹770 crore; revenue grew 15 % to ₹1,074 crore. The management highlighted strong inflows in systematic investment plans (SIPs).
TCS Q3 FY26: Net profit fell around 14 % YoY due to one‑off expenses relating to a U.S. legal settlement. Revenue growth remained modest. The company declared a dividend of ₹57 per share and announced a ₹18,000‑crore share buyback.
Infosys Q3 FY26: Numbers (released post‑market) were broadly in line with street expectations; revenue growth slowed but margins remained stable. Guidance for FY26 was maintained.
Bharat Coking Coal IPO: Listing was postponed to 19 January due to municipal elections in Maharashtra.
Union Bank of India and Bank of Maharashtra: Reported healthy business growth and improved asset quality, driving PSU bank index to record highs.
Other results/announcements: Many mid‑cap IT companies (Netweb Tech, Mphasis, Hexaware) saw sell‑offs after results; Polycab India continued to correct amid regulatory scrutiny; and Anant Raj, Apar Industries and Asian Paints fell due to rising input costs or profit‑taking.
Outlook for the next trading day (after the 15 Jan holiday)
Market holiday: Both the BSE and NSE will be closed on Thursday, 15 January 2026, for the municipal corporation elections in Maharashtra. The next trading session will be Friday, 16 January 2026.
Technical levels (Nifty 50): The index repeatedly faced resistance near 25,800–25,900. A decisive move above 25,900 could open the way for 26,100, while support lies at 25,600. A break below 25,600 may take the index toward 25,500–25,450. Momentum indicators (RSI ~40 and negative MACD) suggest a bearish bias but not oversold conditions.
Technical levels (Bank Nifty): The banking index faces strong resistance near 59,800–60,000. Support is placed at 59,000, followed by 58,500.
Expected market tone: With FIIs continuing to sell and global cues remaining mixed, the tone is likely to stay cautious and range‑bound. Selective buying in metals and PSU banks may persist, but overall sentiment will hinge on the outcome of major Q3 results (Infosys, HDFC AMC), progress on U.S.–India trade talks and any geopolitical developments. Traders should adopt a buy‑on‑dips, sell‑on‑rallies approach and watch whether Nifty can defend the 25,600 support zone.
Note: Market data above are based on closing prices and publicly available reports from financial news sources on 14 January 2026.
