Indian equity markets are poised for a tentative opening on Friday, January 9, following a dramatic sell-off in the previous session. This comes as Asian markets present a mixed picture, offering little clear direction.
Market Recap: A Day of Heavy Losses
The benchmark indices, Sensex and Nifty, witnessed a steep and widespread decline on Thursday, mirroring weak trends in global markets. The selling pressure was intense and broad-based, affecting most sectors.
The 30-share BSE Sensex plummeted by 780 points, or 0.92%, to settle at 84,180.96. This marked the index's most significant single-day percentage drop since August 26, 2025, when it had fallen 1.04%. The Nifty 50 was not spared either, breaking below the 25,900 level to close at 25,876.85, down nearly 1%.
"Markets concluded Thursday's session on a weak note as selling pressure intensified, primarily in reaction to feeble global cues," noted Ajit Mishra, SVP of Research at Religare Broking. He added that the Nifty opened lower and remained under pressure all day, finally closing near the day's low. The broader market weakness was pronounced, with midcap and smallcap indices each falling around 2%.
Stocks in Focus for Friday's Session
Against this volatile backdrop, several stocks are likely to see specific action based on recent developments.
IREDA: The state-owned solar energy financier is scheduled to announce its results for the December quarter today. The company had already shared key operational numbers in a business update earlier this month, putting its performance under the scanner.
Reliance Industries (RIL): The conglomerate stated on Thursday that it would consider buying Venezuelan crude oil if sales to non-US buyers get the green light. This development, amid the ongoing US-Venezuela conflict, is expected to draw investor attention.
Bharat Electronics Ltd (BEL): The defence PSU has bolstered its order book with a fresh contract worth ₹596 crore, announced after its January 1 disclosure. This underscores sustained demand in the defence sector.
Rail Vikas Nigam Ltd (RVNL): The railway infrastructure player has secured a ₹201.23 crore order from East Coast Railway. The project involves setting up a wagon Periodic Overhaul workshop in Kantabanji, Odisha, with an 18-month completion timeline.
Other Notable Stocks: NTPC is evaluating over 30 sites for nuclear projects. Power Grid won a bid to build a new inter-state transmission system. Ashok Leyland launches its new EV plant in Lucknow. The Indian Energy Exchange case hearing is set for today. Vedanta clarified its contract extension status. Bharat Forge partnered with Germany's Agile Robots for AI-driven automation.
What Lies Ahead for Traders?
Early indications from the Gift Nifty futures suggested a mildly positive start, trading around 26,002.5—a gain of about 35 points or 0.13%. However, the overall sentiment remains cautious following the sharp correction. Market participants will be closely watching global cues, sectoral movements, and the results season for further direction. The broad-based nature of the recent decline indicates that investors are adopting a risk-off approach in the near term.
