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Trendlyne Marketwatch
21 Jan 2026
Market closes lower, dragged down by losses in technology and chemical stocks
By Trendlyne Analysis

 

Nifty 50 closed at 25,157.50 (-75, -0.3%), BSE Sensex closed at 81,909.63 (-270.8, -0.3%) while the broader Nifty 500 closed at 22,835.15 (-111.5, -0.5%). Market breadth is sharply down. Of the 2,627 stocks traded today, 817 were in the positive territory and 1,775 were negative.

Indian indices closed in the red, dragged down by losses in technology and chemical stocks. The Indian volatility index, Nifty VIX, rose 8.3% and closed at 13.8 points. Amagi Media Labs' shares debuted on the bourses at a 11.9% discount to the issue price of Rs 361. The Rs 1,788.6 crore IPO received bids for 30.2 times the total shares on offer.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty Metal and BSE Metal were among the top index gainers today. According to Trendlyne’s Sector dashboard, Retailing emerged as the best-performing sector of the day, with a rise of 1.4%.

Asian indices closed mixed, while European indices are trading lower. US index futures traded in the green, indicating a positive start to the trading session. Markets await Donald Trump’s upcoming speech at the World Economic Forum in Switzerland, with tensions over his push for US control of Greenland and tariff threats against Europe in focus. Meanwhile, Netflix’s Q4 revenue rose 17.6% to $12.05 billion, driven by subscriber growth and higher ad revenue, beating expectations, while EPS of $0.56 slightly topped consensus.

  • Relative strength index (RSI) indicates that stocks like Cohance Lifesciences, Tejas Networks, and Newgen Software are in the oversold zone.

  • Vardhman Textiles is falling as its Q3FY26 net profit declines 21% YoY to Rs 166.3 crore, caused by higher inventory, employee benefits and finance costs. However, revenue grows 1.2% to Rs 2,563.8 crore, driven by improved textile sales. It appears in a screener of stocks near their 52-week lows.

  • Rajratan Global Wire is rising as its Q3FY26 revenue grows 38% YoY to Rs 301.5 crore. Net profit rises 22.3% to Rs 20.6 crore during the quarter. The company appears in a screener of companies with low debt.

  • CLSA upgrades CreditAccess Grameen to a 'Buy' rating with a target price of Rs 1,450. The brokerage points to improving asset quality and the lender’s strategic shift toward retail finance. It expects the non-MFI portfolio to exceed 15% in FY26 and says details of the revamped business model and strategy are likely to be outlined in the coming quarter.

  • Piccadily Agro Industries surges more than 10% as its Q3FY26 net profit jumps 92.5% YoY to Rs 47.7 crore, helped by lower finance costs. Revenue grows 50.2% to Rs 277.8 crore, led by improvements in the sugar and distillery segments. It features in a screener of stocks with improving book value over the past two years.

  • Mastek is falling as its Q3FY26 revenue decreases 3% QoQ to Rs 926.6 crore due to reductions in the UK & European, North American and Asia-Pacific, Middle East & Africa (AMEA) markets. However, net profit grows 11.2% to Rs 108.4 crore owing to lower employee benefits and finance costs. It appears in a screener of stocks where promoters are decreasing their shareholding.

  • Supreme Industries is falling as its net profit declines 18% YoY to Rs 153.4 crore in Q3FY26 due to higher material costs and employee benefit expenses. However, revenue increases 7.1% to Rs 2,686.9 crore, driven by higher sales in the plastic piping products segment during the quarter. The company appears in a screener of stocks where mutual funds have increased their shareholding in the past two months.

  • The government is reportedly inviting financial bids for IDBI Bank’s strategic disinvestment, a key step in its long-delayed privatisation after completing regulatory and security clearances. The Centre aims to name the winning bidder by end of March 2026, with Fairfax Financial and Kotak Mahindra Bank among the leading contenders.

  • Ashish Kacholia sells a 0.5% stake in Walchandnagar Industries in Q3FY26. He now holds a 2.1% stake in the company.

  • Rekha Jhunjhunwala adds Advent Hotels International to her portfolio with the purchase of a 4.6% stake in Q3FY26.

  • Shoppers Stop plunges to a new 52-week low of Rs 319.3 per share as its Q3FY26 net profit plunges 69.1% YoY to Rs 16.2 crore due to higher employee benefits and finance costs. However, revenue grows 2.7% to Rs 1,439.8 crore, helped by improvements in premium brands, beauty and INTUNE sales. It shows up in a screener of stocks with low Piotroski scores.

  • Mangalore Refinery and Petrochemicals (MRPL) rises over 9% after its finance head, Devendra Kumar, says the company is considering sourcing crude from Venezuela as it halts Russian oil imports to comply with international sanctions. MRPL operates a 500,000 barrel-per-day refinery in Karnataka and exports about 40% of its refined fuel output.

  • DCM Shriram is falling sharply as its Q3FY26 net profit declines 19.1% YoY to Rs 212.1 crore due to higher raw materials, excise duty, employee benefits, and power & fuel expenses. However, revenue jumps 12.7% to Rs 3,839.9 crore, supported by improvements in the chemicals & vinyl, sugar & ethanol, Fenesta Building Systems, and Shriram Farm Solutions segments. It appears in a screener of stocks with price below short, medium and long term moving averages.

  • Cyient DLM falls to a new 52-week low of Rs 345.8 per share as its Q3FY26 net profit declines 27.9% YoY to Rs 11.2 crore due to higher depreciation & amortisation expenses. Revenue decreases 15.9% to Rs 307.6 crore, caused by a reduction in the defense segment. It shows up in a screener of stocks with growing costs for long-term projects.

  • KPI Green Energy's Q3FY26 net profit jumps 39.4% YoY to Rs 117.8 crore. Revenue grows 45% to Rs 676.1 crore, driven by an improvement in the captive power project segment. It features in a screener of stocks with increasing net profit for the past four quarters.

  • India’s proposed free trade agreement with the EU is close to completion, with Jefferies naming textiles, autos, electronics, and pharma as key beneficiaries. The brokerage expects tariff cuts, regulatory easing, and deeper supply-chain integration to aid exporters, while agri and dairy stay excluded. It adds that India’s annual goods trade with the EU is about $130 billion, with exports of roughly $75 billion, accounting for 17% of total exports and around 1.9% of GDP.

  • Amagi Media Labs' shares debut on the bourses at a 11.9% discount to the issue price of Rs 361. The Rs 1,788.6 crore IPO received bids for 30.2 times the total shares on offer.

  • Power Grid Corp of India is rising as its board of directors approves procuring cold spare transformers and reactors for Rs 914 crore.

  • United Spirits is falling as its Q3FY26 net profit misses Forecaster estimates by 9% despite rising 24.8% YoY to Rs 418 crore. Revenue increases 7.6% to Rs 3,694 crore, driven by higher sales from beverage alcohol and sports segments during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Nomura retains a 'Neutral' rating on Persistent Systems with a target price of Rs 6,100. The brokerage notes that Q3 growth was in line with estimates, while margins beat expectations, driven by AI platform- and tool-led pricing. It has raised Persistent Systems’ FY27 and FY28 EPS estimates by 2% each, but continues to prefer Coforge over Persistent within the midcap IT space.

  • Persistent Systems falls sharply as its Q3FY26 net profit declines 6.8% QoQ to Rs 439 crore due to higher employee benefits and subcontracting costs, along with the impact of new labour codes. However, revenue grows 5.5% to Rs 3,818.7 crore, driven by improvements in the BFSI, healthcare, and hi-tech segments. It appears in a screener of stocks with declining net cash flow.

  • IndiaMART InterMESH is rising sharply as its Q3FY26 net profit jumps 55.6% YoY to Rs 188.3 crore, supported by lower finance and depreciation & amortisation expenses. Revenue grows 34.5% to Rs 537 crore, led by improvements in collections and annualised revenue per paying supplier. It features in a screener of newly affordable stocks with good financials and durability.

  • AU Small Finance Bank is rising as its Q3FY26 net profit grows 26.3% YoY to Rs 667.7 crore due to lower provisions and contingencies. Revenue increases 14.9% to Rs 4,727.5 crore, driven by improvements in the retail, wholesale and treasury banking segments during the quarter. The bank's asset quality improves marginally, with its gross and net NPAs contracting by 1 bps and 3 bps, respectively.

  • Jammu & Kashmir Bank is rising as its Q3FY26 net profit grows 10.4% YoY to Rs 586.7 crore. Revenue increases 3.4% to Rs 3,313.4 crore, driven by improvements in the wholesale and treasury banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs contract by 108 bps and 26 bps, respectively.

  • Nifty 50 was trading at 25,242.40 (9.9, 0.0%), BSE Sensex was trading at 81,794.65 (-385.8, -0.5%), while the broader Nifty 500 was trading at 22,942.90 (-3.8, 0.0%).

  • Market breadth is in the red. Of the 2,168 stocks traded today, 861 were in the positive territory and 1,227 were negative.

Riding High:

Largecap and midcap gainers today include Eternal Ltd. (283.50, 5.2%), Bharti Hexacom Ltd. (1,643.40, 3.1%) and IDBI Bank Ltd. (98.20, 2.9%).

Downers:

Largecap and midcap losers today include Kalyan Jewellers India Ltd. (396.55, -12.2%), SRF Ltd. (2,676.90, -7.2%) and Tata Communications Ltd. (1,619, -5.4%).

Volume Shockers

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

Top high volume gainers on BSE included Mangalore Refinery And Petrochemicals Ltd. (152.16, 9.2%), CreditAccess Grameen Ltd. (1,355.20, 9.1%) and KPR Mill Ltd. (859.05, 5.7%).

Top high volume losers on BSE were Kalyan Jewellers India Ltd. (396.55, -12.2%), SRF Ltd. (2,676.90, -7.2%) and Tata Communications Ltd. (1,619, -5.4%).

Vardhman Textiles Ltd. (396, -1.7%) was trading at 16.0 times of weekly average. Carborundum Universal Ltd. (802.95, 3.0%) and Elgi Equipments Ltd. (425.10, 2.3%) were trading with volumes 10.2 and 6.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks took off, crossing 52 week highs, while 84 stocks hit their 52 week lows.

Stocks touching their year highs included - Hindustan Zinc Ltd. (697.55, 2.5%) and Muthoot Finance Ltd. (3,906.60, -0.6%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,716.70, 1.2%) and Akzo Nobel India Ltd. (2,946.50, -0.9%).

10 stocks climbed above their 200 day SMA including Mangalore Refinery And Petrochemicals Ltd. (152.16, 9.2%) and CreditAccess Grameen Ltd. (1,355.20, 9.1%). 31 stocks slipped below their 200 SMA including Ceat Ltd. (3,545.10, -4.5%) and UPL Ltd. (691.70, -4.4%).

 
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