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Trendlyne Marketwatch
09 Jan 2026
Market closes lower, dragged down by foreign investor outflows and rising crude prices
By Trendlyne Analysis

 

 

Nifty 50 closed at 25,683.30 (-193.6, -0.8%), BSE Sensex closed at 83,576.24 (-604.7, -0.7%) while the broader Nifty 500 closed at 23,467.35 (-212.8, -0.9%). Market breadth is highly negative. Of the 2,598 stocks traded today, 527 showed gains, and 2,026 showed losses.

Indian indices closed lower after extending losses in the afternoon session, dragged down by foreign investor outflows, rising crude prices and fresh US tariff concerns for Russian energy buyers. The Indian volatility index, Nifty VIX, closed 3.1% higher at 10.9 points. Elecon Engineering closed 16.5% in the red after its Q3FY26 net profit declined 33.1% YoY to Rs 72 crore on higher procurement costs.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, tracking the benchmark index. Nifty Realty and Nifty Capital Markets were among the worst-performing indices of the day. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the lowest-performing sector of the day, with a fall of 2.4%.

European indices are trading flat or higher, except Spain’s IBEX 35 and Portugal’s PSI indices. Major Asian indices closed flat or in the green. US index futures are trading mixed, indicating a cautious start to the session as investors await US jobs data set to come out later today.

  • Money flow index (MFI) indicates that stocks like Vardhman Textiles, HDFC AMC, ZF Commercial and Cohance Lifesciences are in the oversold zone.

  • Manappuram Finance falls after reports say the Reserve Bank of India raises objections to Bain Capital’s plan to acquire a controlling stake in the company.

  • Tanfac Industries board of directors approves setting up a 20,000 tonnes per annum (TPA) downstream fluorinated chemical manufacturing facility with a capex of Rs 495 crore. The board also approves a Rs 500 crore qualified institutional placement (QIP) of equity shares and a 1:2 stock split.

  • Ravindra Energy secures an order worth Rs 225 crore from the Hubli Electricity Supply Co (HESCOM) to set up and operate 62 MW of solar power generators across 13 substations.

  • Macquarie retains an 'Underperform' rating on Apollo Hospitals and Max Healthcare Institute, noting both stocks have lagged the Nifty 50 by about 14% so far in 2025. The brokerage expects further earnings downgrades in 2026, adding that EBITDA pressure from new hospital addition targets is not fully factored into current consensus estimates.

  • NMDC is falling as it cuts iron ore prices, reducing Baila lump by Rs 1,000 per tonne to Rs 4,600 compared with last month. Baila fines prices are also lowered by Rs 850 per tonne to Rs 3,900.

  • Torrent Power's Vice Chairman (VC) & Managing Director (MD), Jindal Mehta, announces a capex of Rs 1 lakh crore over the next seven years to expand energy capacity. The company plans to expand thermal capacity by 5 gigawatt (GW) and renewable capacity by 10 GW.

  • Keystone Realtors is falling as its pre-sales decline 3% YoY to Rs 837 crore in Q3FY26, while collections also drop 3% to Rs 524 crore. During the quarter, the company adds a new project in Mumbai with a gross development value of Rs 382 crore.

  • HDFC Securities maintains an 'Accumulate' rating on Birla Corporation with a lower target price of Rs 1,370. The brokerage highlights industry-leading volume growth, a higher premium cement mix aiding pricing, and improving cost competitiveness, while cautioning on near-term demand softness and rising competition. Capex is seen at Rs 6.5 billion in FY26, picking up from FY27 with planned expansions.

  • Sagar Cements declines as its board of directors approves selling of 75 lakh shares (8.14% stake) of its subsidary, Andhra Cements at a floor price of Rs 72 per share through an offer for sale (OFS). The OFS opens today and will end on January 12.

  • Power Grid Corp emerges as the successful bidder for an inter-state transmission system strengthening project in Karnataka. The project comprises of 400 kilovolt (kV) high-capacity power lines along with associated line bays works at both ends and integration of additional renewable energy potential at both Davangere and Bellary pooling stations. 

  • Highway Infrastructure rises as it wins a Rs 328 crore NHAI order for one-year operation and user-fee collection at Kaza toll plaza on NH-16 in Andhra Pradesh. The company will also maintain adjacent toilet blocks and replenish consumables.

  • Nuvama Institutional Equities maintains a 'Hold' rating on Transformers & Rectifiers (India) with a target price of Rs 334. The brokerage flags a continued slowdown in fresh order inflows, which could hurt earnings visibility beyond FY26 despite better-than-expected Q3 performance. Order inflows rose 5.4% YoY to Rs 670 crore in Q3, but were down 18.6% in the first nine months of FY26.

  • Morepen Laboratories receives a stay order from the Himachal Pradesh High Court against a show cause notice worth Rs 117.9 crore issued by the GST Authority in Shimla.

  • Elecon Engineering plunges more than 13% as its Q3FY26 net profit declines 33.1% YoY to Rs 72 crore due to higher raw materials, manufacturing, employee benefits, and finance costs. However, revenue grows 4.8% to Rs 570.6 crore, driven by improvements in the transmission equipment and material handling equipment segments. It shows up in a screener of stocks with an increasing trend in non-core income.

  • Ugro Capital's board of directors approves the merger of its subsidiary, Profectus Capital, into itself.

  • According to data released by the Association of Mutual Funds in India (AMFI), equity mutual fund inflows decline 6% to Rs 28,054.1 crore in December, down from Rs 29,911.1 crore in November. Meanwhile, total assets under management (AUM) stood at Rs 80.2 lakh crore at the end of the month.

  • Vodafone Idea is rising as it releases a timeline to repay the AGR dues. The company plans to repay Rs 124 crore annually over FY26-31, Rs 100 crore annually over FY32-36 and the remaining AGR dues in equal payments annually over FY36-41.

  • Hindustan Unilever is falling as it receives a tax demand of Rs 1,559.7 crore from the Income Tax Department under Sections 143(3) and 144C(13) of the Income Tax Act, 1961, following a transfer pricing and corporate tax assessment for FY22.

  • Power Mech Projects is rising as its wholly-owned subsidiary, PM Green, secures an order worth Rs 3,126 crore from West Bengal State Electricity Distribution (WBSEDCL). The order is to set up a 250 megawatt/1,000 megawatt-hour battery energy storage project in West Bengal.

  • Rupal Agarwal, Director and Senior Research Analyst – Asia Quant Strategy at Bernstein, says Indian equities do not warrant an “Underweight” view and instead offer a balanced risk-reward, supporting a “Neutral” stance. Agarwal cites tailwinds such as an improving earnings cycle, reasonable valuations, potential foreign inflows, resilient domestic flows, and the likelihood of a US–India trade deal.

  • Bharat Heavy Electricals is rising as it secures an order worth Rs 5,400 crore from its joint venture (JV) with Coal India, Bharat Coal Gasification and Chemicals, to set up a coal gasification & raw syngas cleaning plant in Odisha.

  • Rail Vikas Nigam secures an order worth Rs 201.2 crore from East Coast Railway to set up a wagon maintenance workshop with a capacity of 200 units at Kantabanji.

  • Astra Microwave Products' joint venture, Astra Rafael Comsys, secures a Rs 275.3 crore order from the Indian Air Force. The order covers integration of software-defined radios on MiG-29 aircraft, installation of network-centric applications, and supply of 24 radios for Light Combat Aircraft (LCA) Mk-1A.

  • Bharat Electronics is rising as it secures orders worth Rs 596 crore for drone detection and jamming systems, mobile communication terminals, software solutions, upgrades, spares, and related services.

  • Nifty 50 was trading at 25,938.80 (62.0, 0.2%), BSE Sensex was trading at 84,022.09 (-158.9, -0.2%), while the broader Nifty 500 was trading at 23,741.05 (61.0, 0.3%).

  • Market breadth is holding steady. Of the 2,078 stocks traded today, 975 were on the uptrend, and 1,058 went down.

Riding High:

Largecap and midcap gainers today include Hindustan Zinc Ltd. (606.45, 2.7%), Oil India Ltd. (420.05, 2.5%) and Coforge Ltd. (1,681.60, 2.1%).

Downers:

Largecap and midcap losers today include Godrej Properties Ltd. (1,991.50, -4.9%), Siemens Energy India Ltd. (2,403.80, -4.9%) and Adani Green Energy Ltd. (946.10, -4.3%).

Volume Rockets

17 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included CCL Products India Ltd. (940.60, 1.6%), Bharat Heavy Electricals Ltd. (274.25, 0.9%) and Mazagon Dock Shipbuilders Ltd. (2,500.50, 0.8%).

Top high volume losers on BSE were Elecon Engineering Company Ltd. (423.55, -15.9%), Indian Energy Exchange Ltd. (138.36, -7.8%) and Manappuram Finance Ltd. (285.85, -7.6%).

Hitachi Energy India Ltd. (17,700, -4.0%) was trading at 7.0 times of weekly average. Tejas Networks Ltd. (417.15, -5.6%) and Mastek Ltd. (2,050, -0.7%) were trading with volumes 6.2 and 5.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks made 52 week highs, while 30 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Indus Towers Ltd. (433.40, 0.6%) and Eicher Motors Ltd. (7,507, -0.6%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,705.80, -1.0%) and BASF India Ltd. (3,754.40, -1.1%).

4 stocks climbed above their 200 day SMA including Oil India Ltd. (420.05, 2.5%) and Petronet LNG Ltd. (288, 1.7%). 49 stocks slipped below their 200 SMA including Adani Green Energy Ltd. (946.10, -4.3%) and Hitachi Energy India Ltd. (17,700, -4.0%).

 
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