Mumbai, 12 January – On the first trading day of the week, the Indian share market opened in the red amid significant declines in key benchmarks. All Nifty indices traded lower, reflecting broad market weakness.
The BSE Sensex, comprising 30 stocks, opened flat but soon entered a downward trend, falling over 300 points. At the time of reporting, the Sensex was down by 348 points or 0.42 percent, trading near the 83,228 level. Meanwhile, the Nifty index slipped by 106.50 points or 0.41 percent to 25,576.80.
In the broader market, the Nifty Midcap index declined by 0.18 percent, while the Nifty Smallcap index fell by 0.33 percent, indicating pressure across market capitalisation segments.
Sector-wise Performance
Sectoral indices also faced losses, with the Nifty Realty index falling 1.6 percent, Nifty Pharma down 0.97 percent, and Nifty Auto dropping 0.6 percent. Both Nifty IT and Bank indices declined by 0.5 percent each.
Within the Sensex pack, Hindustan Unilever Limited, Asian Paints, Axis Bank, Tata Steel, and SBI were among the top gainers. Conversely, shares of ITC, BEL, L&T, Power Grid, Reliance, Infosys, and Bajaj Finance saw notable weakness.
Market Insights from Experts
Akash Shah, Technical Research Analyst at Choice Broking, noted that Nifty50 continues to face selling pressure with no clear signs of a strong rally. According to him, it is crucial for the Nifty to hold above the 25,500-25,600 support zone to prevent further decline. For market stability and improvement, a sustained breakout above 25,800-25,850 is essential.
Regarding the Bank Nifty, Shah explained it is trading within a limited range but currently shows a negative trend. Immediate support stands near 59,000, and a breach below this could drag the index down to 58,900-58,800 levels. On the upside, the 59,500-59,600 zone acts as a strong resistance, where a decisive move above may signal a potential uptrend.
Shah also highlighted foreign institutional investors (FIIs) have been net sellers for four consecutive sessions, selling shares worth approximately ₹3,367 crore on 9 January. In contrast, domestic institutional investors (DIIs) supported the market with net purchases around ₹3,701 crore.
Given the current conditions, Shah advised investors and traders to focus on selective, high-quality stocks and consider opportunities in quality shares on dips. He recommended waiting for a clear breakout before taking any aggressive positions.
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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