The Indian stock market slipped for the third day in a row on January 7, with the Nifty closing just under 26,150 as worries about global politics and foreign selling grew.
Market Summary
At the close, the Sensex was down 102.20 points (‑0.12%) at 84,961.14, and the Nifty fell 37.95 points (‑0.14%) to 26,140.75. While large‑cap indices slipped, the BSE Midcap rose 0.5% and the Smallcap gained 0.12%.
Sector Performance
- Gainers: Consumer durables, IT and pharma rose between 0.5% and 1.8%.
- Losers: Auto, oil & gas, realty and telecom each dropped about 0.5%.
Top Movers
- Titan Company jumped 4% to a new 52‑week high after a strong Q3.
- Senco Gold surged 12% following a 51% revenue jump in Q3.
- Indian Hotels Company slipped 1% after a downgrade.
- Bliss GVS Pharma rose 3% on heavy block‑trade activity.
- Meesho fell 5% when its one‑month lock‑in period ended.
52‑Week Highs and Lows
More than 140 stocks touched 52‑week highs, including Torrent Pharma, JB Chemicals, NMDC, BHEL, and Nestlé. Over 100 stocks hit 52‑week lows, such as Vedant Fashions, Premier Energies, and Whirlpool.
Technical Outlook for January 8
Analysts expect the Nifty to stay in a narrow range for now. The near‑term support sits around the 21‑day EMA near 26,000, while resistance is near 26,300. A clear break below 26,000 could open the door to further declines, whereas a decisive move above 26,300 might spark an uptrend.
Disclaimer
Remember, this is my view, not a prediction. Always do your own research or talk to a certified advisor before making any investment decisions.