15 hours ago
Sensex falls 650 points, extending the decline for the fifth straight session. If Nifty 50 ends below 25,800 today, it would be the lowest close since Dec 10.
By CNBCTV18.com January 9, 2026, 2:23:42 PM IST (Published)
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The Nifty 50 is down over 2,200 points in five straight days of decline, including the one on Friday. ICICI Bank, Adani Enterprises and Adani Ports and Special Economic Zone were among the major laggards in the Nifty 50 pack, declining up to 2 percent. Market breadth remained negative as about 1349 shares advanced, 1959 shares declined and 175 shares unchanged.
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The Nifty Bank is also trading in a similar territory, with the banking index falling over 250 points, falling below the 60,000 mark, with a little over an hour to the end of the week's trading.
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Investors are awaiting a US Supreme Court ruling on the legality of tariffs imposed by former US President Donald Trump. If the tariffs are declared illegal, the US government may be required to refund nearly $150 billion to importers.
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ETERNAL and Oil & Natural Gas Corporation were the top gainers. Eternal got a boost from Goldman Sachs reportedly raising the target price on the stock to ₹375 from ₹390 earlier, implying a more than 30% upside to its current market price.
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The Nifty Midcap Index is also under pressure; the index has fallen by over 400 points from the day's high. The Nifty Smallcap 250 slipped a sharper 1.38 percent to 16,261, as at 2 pm on Friday.
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As of 2 pm, 16 out of the 20 stocks on the Nifty Pharma Index are in the red. The Nifty FMCG Index has fallen over 400 points, and here 13 out of the 15 stocks are trading in red. The Nifty Auto Index is under pressure, and 13 out of the 15 stocks are now trading in red.
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India’s reduced valuation premium after its underperformance in 2025 has made the market more acceptable to global investors, but returns in 2026 are likely to remain moderate, according to Vikash Kumar Jain, India Strategist and Head of India Research at CLSA.
