The Indian stock market slipped again on Jan 8, marking its fourth straight losing day.
Market Summary
The benchmark Nifty closed at 25,876.85, down 1.01%, while the Sensex fell 0.92% to 84,180.96. Broad selling across most sectors pushed the indices lower, and mid‑cap and small‑cap indexes each dropped about 2%.
Sector Performance
All major sector indices ended in the red. Metal, oil & gas, power, PSU banks and capital goods each slipped between 2% and 3%.
Top Losers and Gainers
Biggest losers on the Nifty were Hindalco Industries, ONGC, Jio Financial, Wipro and Tech Mahindra.
Notable gainers included ICICI Bank, Eternal, SBI Life Insurance and Bharat Electronics.
Stocks Hit Year‑Low and Year‑High
- More than 180 stocks touched 52‑week lows, such as Jyothy Labs, Sapphire Foods, IRCTC, Jubilant Foodworks, Colgate‑Palmolive and United Breweries.
- Over 100 stocks reached 52‑week highs, including India Cements, AIA Engineering, Eicher Motors, Axis Bank, Bajaj Auto and NMDC.
Technical Outlook for Jan 9
Analysts note that the Nifty broke below its rising trendline and fell under the 26,000 psychological level. The index also closed below the 50‑day EMA for the first time in three months, signaling a bearish tilt.
The India VIX rose, indicating higher fear among traders. If the Nifty stays under 26,000, further drops toward 25,700–25,550 are possible. Support may be found near 25,700 (the December swing low) and 25,500 (a key retracement level). Resistance sits around the 26,000–26,100 zone.
Given ongoing geopolitical tensions and fresh tariff worries, volatility is likely to stay high. Traders are advised to avoid aggressive positions until market direction becomes clearer.
Disclaimer
Remember, this is just an analysis, not a prediction. Do your own research or consult a qualified advisor before making any investment decisions.