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Among the top gainers were TCS, Asian Paint, Bajaj Finance, HCL Tech, Maruti Suzuki India, and Tech Mahindra rising by up to 1.17 per cent.
Stock Market Today.
Market Update Today: After a mildly positive opening, the domestic equities market faced selling pressure amid profit-booking. The BSE Sensex declined 769.67 points to close at 81,537.70, while the NSE Nifty fell by 241 points to trade below the 25,100 level to 25,048.65.
Among the 30 Sensex stocks, 24 ended the day in the red. Top losers were Adani Ports, Eternal, IndiGo, Axis Bank, and PowerGrid, falling by up to 7.52 per cent. However, gainers were Tech Mahindra, Hindustan Unilever, Infosys, Asian Paints, TCS and UltraTech Cement, rising by up to 0.71 per cent.
In the broader markets, the BSE MidCap and the SmallCap were trading lower by 1.56% and 2.19%, respectively.
In the opening trade, the Sensex had risen about 69 points in opening deals to trade at 82,373.21, while the Nifty traded above the 25,300 mark at 25,311.35.
Ponmudi R, CEO of Enrich Money, a Sebi-registered online trading and wealth tech firm, said, “Indian equity markets closed today on a cautious-to-negative note, reflecting sustained pressure from global uncertainty and domestic macro headwinds. Persistent concerns around global trade policies and protectionist signals continued to cloud investor confidence, particularly weighing on export-oriented sectors and index heavyweights. The financial space remained under stress amid lingering questions on near-term earnings visibility, margin sustainability, and selective asset-quality risks, keeping broader participation muted.”
From a macro standpoint, elevated crude prices and continued currency stress kept inflation concerns alive and reinforced caution around fiscal and monetary stability. While selective buying emerged in defensives and domestically driven pockets, it lacked the depth and breadth to counter the overall weakness. With global cues still evolving and earnings clarity limited, market participants preferred a cautious positioning, awaiting stronger directional triggers before rebuilding risk exposure, he added.
“The Nifty opened flat to mildly positive but once again failed to sustain above the 25,300 zone, slipping into a clear intraday downtrend. The index continued to consolidate with a sequence of lower highs and lower lows and eventually moved back below its 200-day EMA, reinforcing the prevailing negative bias,” Ponmudi said.
The psychological 25,000 level remains a critical near-term support; a decisive breakdown below this zone could accelerate selling pressure toward the 24,900–24,800 region. On the upside, 25,200-25,300 now acts as an immediate supply band, with 25,400 emerging as the key reversal threshold. MACD remains in negative territory, confirming sustained downside momentum. While oversold conditions may allow a brief technical bounce, the broader structure continues to favour sellers unless the index decisively reclaims higher resistance zones, he added.
Vinod Nair, Head of Research, Geojit Investments Limited, said, “Indian equity markets went on a sell-off mode despite an optimistic global market and supportive domestic PMI data. Sentiment weighed down on uptick crude oil prices, a sharp depreciation of the rupee to record lows, FIIs selling and earnings delivery falling marginally short of expectations amid premium India valuations.”
Realty and PSU bank stocks underperformed on execution-related delays and profit booking, while Adani Group stocks came under pressure amid reports of potential summons by the US regulator. Looking ahead, market sentiment is likely to remain cautious as investors position to upcoming the Union Budget and the US Fed’s interest rate decision where expectations are muted, he added.
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January 23, 2026, 09:25 IST
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