Indian stock markets kicked off Friday's trading session with impressive gains. The benchmark indices opened firmly in the green, reflecting positive investor sentiment. The BSE Sensex jumped more than 700 points in early trade. Simultaneously, the NSE Nifty50 soared past the 25,800 mark, showing strong upward momentum.
Markets Trim Gains by Afternoon
However, the initial surge did not hold entirely. By 12:30 PM, both indices had pared some of their substantial gains. The Sensex was trading at 83,712, up 329 points or 0.4%. The Nifty50 stood at 25,743, higher by 78 points or 0.31%. This moderation indicated a degree of profit-taking and caution among traders as the session progressed.
Expert Cites Cautious Stance Ahead of Budget, Eyes Trade Deals
Market expert Ajay Bagga shared his analysis with ANI. He noted that investors are largely adopting a cautious stance at present. Expectations from the upcoming Union Budget 2026 are not very high so far, he said, describing it as similar to 2025. Bagga pointed out a prevailing "lottery investment for listing gains" mentality in the IPO market. He also highlighted that foreign portfolio investor (FPI) selling remains elevated in secondary markets.
Bagga identified a potential catalyst for sentiment. He mentioned that Indian markets could benefit from positive news on the trade deal front. Specifically, he referred to comments from a top Indian bureaucrat in the Commerce Ministry. The official expressed hope for an India-EU trade deal to be signed by January 26th. The bureaucrat also stated that an India-US trade deal is progressing well. Bagga emphasized that an EU deal would be a significant morale booster, given the EU's status as a huge potential market for Indian goods.
Top Gainers and Losers as of 12:30 PM
The market movement created clear winners and losers among major stocks. Here are the top performers and decliners on the key indices.
Nifty50 Leaders and Laggards
Top Gainers on Nifty50:
- Infosys – up 5.42%
- Tech Mahindra – up 4.28%
- Wipro – up 3.21%
- Shriram Finance – up 2.88%
- Tata Motors PV – up 2.21%
- M&M – up 1.46%
- Tata Consumer – up 1.41%
- Adani Enterprises – up 1.24%
- HCL Tech – up 1.20%
- SBI – up 1.15%
Top Losers on Nifty50:
- Cipla – down 2.47%
- Sun Pharma – down 1.76%
- Eternal – down 1.72%
- BEL – down 1.67%
- Maruti Suzuki – down 1.60%
- HDFC Life – down 1.52%
- Hindalco – down 1.48%
- ITC – down 1.38%
- Bajaj Auto – down 1.26%
- Jio Financial Services – down 1.21%
Sensex Leaders and Laggards
Top Gainers on Sensex:
- Infosys – up 5.44%
- Tech Mahindra – up 4.25%
- M&M – up 1.48%
- IndusInd Bank – up 1.39%
- HCL Tech – up 1.22%
- SBI – up 1.15%
- Bajaj Finance – up 0.79%
- Power Grid – up 0.67%
- Nestle India – up 0.66%
- HDFC Bank – up 0.64%
Top Losers on Sensex:
- Sun Pharma – down 1.76%
- Eternal – down 1.73%
- Maruti Suzuki – down 1.66%
- ITC – down 1.4%
- Axis Bank – down 0.89%
- Asian Paints – down 0.55%
- Bharti Airtel – down 0.48%
- ICICI Bank – down 0.45%
- Kotak Bank – down 0.24%
- Tata Steel – down 0.11%
Earnings Season and Global Cues in Focus
Market participants are closely watching a string of third-quarter earnings announcements scheduled for today. Major companies set to declare their results include Reliance Industries, Wipro, Tech Mahindra, Polycab India, L&T Finance, Federal Bank, JSW Infrastructure, Poonawalla Fincorp, Central Bank of India, JB Chemicals and Pharmaceuticals, and Tata Technologies. These results are likely to influence individual stock prices and broader sectoral trends.
On the global front, markets saw a mixed start. Easing tensions related to Iran and strong earnings from Taiwan Semiconductor Manufacturing Company (TSMC) provided a lift to US stocks. Gains were concentrated in the artificial intelligence, semiconductor, and financial sectors. Notably, Goldman Sachs and Morgan Stanley led the advance in the financial space.
Disclaimer: Recommendations and views on the stock market, other asset classes, or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.
