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Market Update: Sensex Falls 700 Points, Nifty Plummets Below 25,100; Eternal, Adani Ports Top Losers

Posted By: Tarun Kumar Posted On: Jan 23, 2026Share Article
Sensex Falls 700 Points
Stock Market Today.

Market Update: Sensex Falls 700 Points, Nifty Plummets Below 25,100; Eternal, Adani Ports Top Losers

Market Update Today: After a mildly positive opening, the domestic equities market faced selling pressure amid profit-booking. In the afternoon, the BSE Sensex traded lower by nearly 700 points at 81,636.15, while the NSE Nifty fell by 210 points to trade near 25,100 at 25,077.54.

Among the 30 Sensex stocks, only 9 were trading in green. The gainers were Asian Paints, Hindustan Lever, Tech Mahindra, TCS, HCL Tech, Titan, ICICI Bank, Infosys and Sun Pharma, rising by up to 1.59 per cent. Among the top losers were Eternal, Adani Ports, IndiGo, PowerGrid, Axis Bank and BEL, cracking by up to 5.80%.

In the broader markets, the BSE MidCap and the SmallCap were trading lower by 1.17% and 1.78%, respectively.

In the opening trade, the Sensex on Friday rose about 69 points in opening deals to trade at 82,373.21, while the Nifty traded above the 25,300 mark at 25,311.35.

Ponmudi R, CEO of Enrich Money, a Sebi-registered online trading and wealth tech firm, said, “Risk appetite remains selective amid lingering uncertainty around US policy actions and potential tariff measures linked to countries importing Russian oil. Domestic institutional flows continue to provide stability, highlighting underlying resilience even as FIIs stay cautious."

Nifty remains in a narrow consolidation range with a mild positive bias, holding firmly above its key support zone, Ponmudi R noted. He said that immediate support is placed at 25,120-25,160, while a decisive break below 25,000 could expose the index to lower levels.

He stated, “Overall bias stays mildly bullish, with scope for a gradual move toward 25,600 as long as Nifty sustains above 25,300 and holds its 200-DMA support." In the banking sector, the Bank Nifty reclaimed its 50-day EMA, shifting to a neutral-to-bullish structure. Ponmudi R observed that the resistance band at 59,600-59,700 remains the key hurdle for a further breakout toward the 60,000 mark.

“The rupee has stabilised near 91.50-91.60 after testing record lows around 91.72, supported by risk-on sentiment and possible RBI intervention. This stabilisation offers temporary relief on imported inflation concerns, though currency sensitivity to capital flows remains high. India VIX has moderated marginally, indicating easing near-term volatility," Ponmudi said.

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V K Vijayakumar, chief investment strategist at Geojit Investments Ltd, said, “The pattern of sustained FII selling and DII buying which dominated the market trend in 2025 has been continuing in 2026, too, so far. Whether this pattern will change with FIIs also turning buyers is the important question which investors have been asking for sometime now. Partly the Budget to be presented on February 1st will offer some insights, if there are some market-friendly proposals. More importantly, the FII stance towards India will be determined by the trend in India's corporate earnings. Higher earnings growth alone can ensure sustained buying by FIIs since they have the option to invest in other markets where valuations are cheaper and earnings are better."

Since earnings growth is sometime away and the FII selling strategy is expected to continue, preempting any healthy rally, the market is heavily net short. FIIs are adding to the short positions on every rally triggered by some positive news. The broader market, where FII presence is limited, is like to witness action in response to Q3 results, he added.

Source: News18
Related Posts: Indian stock market, Sensex, Nifty, domestic equities, market opening, top gainers, sector performance, US equities impact

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