Indian equity benchmarks extended their losing streak to a fourth consecutive session on Thursday, January 8, 2026, succumbing to a broad-based sell-off triggered by weak global market sentiment. Both the benchmark indices closed with significant cuts, reflecting heightened investor caution.
Market Indices See Sharp Decline
The Nifty 50 index dropped by 1.01%, closing at 25,876.85 points, a steep fall from its previous close of 26,140.75 points. Similarly, the BSE Sensex ended the day 0.92% lower at 84,180.96 points, down from 84,961.14 points at the end of the last trading session, as per the latest exchange data.
The persistent downturn has been attributed to a combination of external headwinds. Siddhartha Khemka, Head of Research for Wealth Management at Motilal Oswal Financial Services, noted that while corporate earnings growth is expected to be broad-based, led by sectors like Oil & Gas, Automobiles, and Cement, near-term pressures remain. "Overall, we expect the market to remain under pressure in the near term, dragged by concerns over US tariffs, ongoing geopolitical tensions and weak global market cues," Khemka stated.
Commodities Follow Suit: Gold and Silver Dip
The bearish sentiment spilled over into the commodities market as well. On the Multi-Commodity Exchange (MCX), gold futures for February delivery closed marginally lower. Gold prices settled at ₹137,700 per 10 grams, down by ₹42 or 0.03% from the previous close of ₹137,742.
Jatin Trivedi, VP Research Analyst for Commodity and Currency at LKP Securities, explained the pullback. "The pullback in gold rate is due to global factors such as the annual rebalancing of major commodity indexes. This process is expected to trigger selling worth billions of dollars in coming days," he said. Trivedi added that upcoming macroeconomic data from the US could inject further volatility into precious metal prices.
Silver witnessed a more pronounced decline. MCX silver futures closed 0.28% lower at ₹242,631 per kilogram, down ₹693. During the afternoon session, silver prices had plummeted over 5%, hitting an intraday low of ₹236,044 per kg, showcasing extreme volatility.
Expert Stock Picks for Traders
Despite the broader market weakness, analysts have identified specific stocks that show technical strength for short-term trading opportunities. Experts from leading brokerages have shared their recommendations for Friday's session.
Sumeet Bagadia of Choice Broking recommended two stocks. He suggests buying AIA Engineering Ltd at ₹4,075 with a target of ₹4,365 and a stop loss at ₹3,930, citing its strong bullish momentum and position above all key moving averages. His second pick is The India Cements Ltd, with a buy recommendation at ₹471, target of ₹503, and stop loss at ₹455.
Ganesh Dongre of Anand Rathi shared three stock ideas. He recommends Dr. Reddy's Laboratories Ltd at ₹1,206 (target: ₹1,260, stop loss: ₹1,590), Infosys Ltd at ₹1,612 (target: ₹1,660, stop loss: ₹1,580), and Kfin Technologies Ltd at ₹1,065 (target: ₹1,110, stop loss: ₹1,050).
Shiju Kuthupalakkal of Prabhudas Lilladher also provided three intraday buy recommendations. These include Netweb Technologies India Ltd (buy: ₹3,397, target: ₹3,550), Fertilizers and Chemicals Travancore Ltd (buy: ₹891, target: ₹945), and Zensar Technologies Ltd (buy: ₹718.45, target: ₹760).
Market participants are advised to monitor global developments closely, as external factors continue to dictate the near-term trajectory for Indian financial markets. Investors should consult with certified experts before making any investment decisions, as market conditions are subject to rapid change.
