The Indian stock market is poised for a cautious opening on Thursday, January 8, as mixed signals from Asian peers and a weak trend in Gift Nifty futures set the tone. Early indications suggest a tepid start, continuing the subdued sentiment witnessed in the previous session.
Market Snapshot: A Third Day of Declines
On Wednesday, January 7, the benchmark indices extended their losses for the third consecutive session. The S&P BSE Sensex declined by 102 points, or 0.12%, to settle at 84,961.14. Similarly, the Nifty 50 index eased by 38 points, or 0.14%, closing at 26,140.75. The downtick was primarily influenced by ambiguous global cues that kept investor appetite in check.
However, in a contrasting trend, the broader markets displayed resilience. The BSE Midcap index gained 0.47%, while the Smallcap index edged up by 0.12%, indicating selective buying interest in specific pockets.
Commenting on the market mood, Ponmudi R, CEO of Enrich Money, noted, "Indian equity markets ended today’s session on a subdued and cautious note, with investors adopting a selective approach amid mixed domestic and global cues." He added that geopolitical tensions and tariff concerns continued to limit risk-taking behavior.
Stocks to Watch on January 8
Against this backdrop, several stocks are likely to see action based on recent corporate developments.
Infosys: The IT giant announced a strategic alliance with Cognition to expand the deployment of Devin, an AI software agent, across global enterprises. This move underscores its focus on next-generation AI solutions.
Tata Steel: The company reported its strongest-ever quarterly performance in India for Q3 FY26. Crude steel production surged to 6.34 million tonnes, marking a 12% increase both sequentially and annually, driven by higher output from its Jamshedpur and Kalinganagar plants.
HUDCO: The state-owned housing finance corporation has signed a non-binding Memorandum of Understanding (MoU) with the Chhattisgarh government. The pact involves providing financial support of up to ₹1 lakh crore over the next five years for housing and infrastructure projects.
Angel One: The brokerage firm's board will meet on January 15 to consider a potential stock split, declare its first interim dividend for FY 2025-26, and approve December quarter earnings. This could enhance the stock's liquidity and retail appeal.
Eternal (Zomato & Blinkit Parent): The company has received a GST demand order totaling ₹3.69 crore (including interest and penalty) for the period from April 2019 to March 2020.
Gland Pharma: The pharmaceutical company secured approval from the USFDA for its Abbreviated New Drug Application for Olopatadine Hydrochloride, a therapeutic equivalent to Alcon's Pataday Once Daily Relief 0.7%.
IndiGo: The Competition Commission of India has sought information from IndiGo and aviation regulator DGCA to assess if the airline engaged in unfair practices during last month's mass flight cancellations.
Midwest: The mining firm secured a quarry lease work order from the Andhra Pradesh Department of Mines & Geology to mine coloured quartzite blocks in Prakasam district.
Adani Green Energy: A subsidiary, Adani Green Energy Twenty Five B Limited, signed a Power Consumption Agreement to supply 20.8 MW of solar-wind hybrid power to Asahi India Glass.
IRB Infrastructure Developers: The company reported a 12% year-on-year jump in gross toll collections for December 2025, amounting to ₹753.8 crore, aided by robust traffic growth on its key routes.
Market Outlook and Final Thoughts
As the trading day begins, the Gift Nifty, trading around 26,184—down approximately 42 points or 0.16% from Nifty's previous close—signals a weak start. Investors are expected to remain vigilant, focusing on company-specific news amid the overarching cautious sentiment driven by global factors and domestic cues.
The market's direction will likely hinge on fresh triggers, both domestic and international, while stock-specific movements based on fundamental developments will offer trading opportunities.
