The Indian stock market fell for the second day in a row on January 6, with the Nifty index slipping below 26,200.
Market snapshot
At the close, the Sensex was down 376 points (‑0.44%) at 85,063, and the Nifty fell 71.6 points (‑0.27%) to 26,178.70.
Sector performance
IT, pharmaceuticals, PSU banks and metals managed modest gains of 0.3‑1.7%, while infrastructure, media, oil & gas and capital goods lost between 0.6% and 1.6%.
Top losers and gainers
Big losers on the Nifty included Trent, Reliance Industries, ITC, Kotak Mahindra Bank and Interglobe Aviation. Gainers were Apollo Hospitals, ICICI Bank, HDFC Life, Sun Pharma and Tata Consumer.
Notable stock moves
- Tata Motors PV fell 2% after Jaguar Land Rover wholesales dropped 43%.
- KSH International rose 3% as its Q2 profit jumped 129%.
- Allcargo Terminals gained 1% on an 18% rise in December volumes.
- GM Breweries slipped 5% despite a 91% surge in Q3 profit.
- Emmvee Photovoltaic jumped 8% after Jefferies gave it a “buy” rating.
- IndusInd Bank rose 2% after Nomura kept its “buy” call.
Stocks near 52‑week extremes
More than 140 stocks touched their 52‑week highs, including Aether Industries, NALCO, IIFL Finance, Bajaj Auto, Hindalco and several banks. Over 120 stocks hit 52‑week lows such as Premier Energies, Vedant Fashions, Mahanagar Gas, ITC and Tata Chemicals.
Expert outlook for January 7
Analysts expect profit‑taking to continue. The pharma and healthcare indices were the day’s best performers, up over 1.5%, while oil and gas fell 1.8%.
Technical analysts note that the market could fall further if the Nifty breaks below 26,100, possibly sliding to the 26,000‑25,950 range. Resistance sits around 26,250; a clear break above could push the index toward 26,350‑26,380.
Quick takeaway
For now, the market looks range‑bound with a bias toward the downside. Investors may want to watch oil‑related stocks and stay cautious on broader indices.
Disclaimer
These notes are only my perspective, not a prediction. Always do your own research or talk to a certified advisor before making any investment decisions.