Stock Market Today: Sensex at 83,004, Nifty Drops 170 Points on Fresh Trump Tariffs

Overview

• Sensex fell 566 points to 83,004, and Nifty was down 170 points to 25,524

• ICICI Bank and Wipro stock fell 2.84% and 9%. Meanwhile, Tech Mahindra shares gained 3.39%

• Gold hit a record high of $4,689 as a fresh Trump tariff announcement spooked global markets

Indian stock market today showed bearish signals. Benchmark indices fell amid weak global cues and concerns over US trade policies. Sensex was down 566 points or 0.68% to 83,004 points at press time. Meanwhile, Nifty lost 170 points or 0.66% to 25,524. BSE Smallcap index fell 1.04%, underperforming the benchmark indices.

All top sectoral indices traded in the red zone except FMCG and metals. Nifty Realty index slipped 1.43%, with major stocks like Sobha down 3.26% and Anant Raj falling 2.07%. Media index slipped 1.59%, while IT declined 1.05%. India VIX, the market's fear gauge, jumped 5.5% to 12, indicating rising volatility. Here’s the latest share market news based on data from Moneycontrol Updates. 

Banking Stocks Performance and Q3 Results 

Banking stocks saw some of the sharpest declines in the stock market today. ICICI Bank share price plunged 2.84% on Q3 results. The bank’s standalone profit declined 4% to Rs. 11,317 crore as provisions surged 108% to Rs. 2,555 crore. ICICI board approved the re-appointment of Sandeep Bakhshi as MD & CEO for another two years from October 2026.

HDFC Bank stock was down 0.86% after posting an 11.5% rise in Q3 profit to Rs. 18,654 crore. The bank's net interest income grew 6.4% to Rs. 32,615 crore. RBL Bank, despite reporting a massive 555% jump in profit to Rs. 214 crore, crashed 7.18% as investors remained cautious. Yes Bank also declined 2.22% even after its profit surged 55% to Rs. 952 crore.

Reliance Industries and IT Sector Under Pressure

Reliance Industries stock, one of the most influential stocks in the Indian stock market, traded 3.33% lower at Rs. 1,409. The company reported a 10% revenue growth to Rs. 2.93 lakh crore in Q3, with profit rising marginally by 1.6% to Rs. 22,290 crore. Its digital arm Jio Platforms posted strong numbers with an 11.2% profit growth to Rs. 7,629 crore.

The IT sector saw mixed movements in the stock market today. Wipro lost the most, crashing 9% to Rs. 243 after its Q3 profit fell 7% to Rs. 3,119 crore. The company declared an interim dividend of Rs. 6 per share, but its muted guidance disappointed investors.

On the other hand, Tech Mahindra shares surged 3.39% after reporting a14% profit growth to Rs. 1,122 crore. The company’s EBIT margin expanded to 13.14%.

Also Read: Top Industrial Stocks to Watch for 2026 Investments

Share Market News: Key Corporate Updates

CG Power secured a major Rs. 900 crore order for power transformers for a US data centre project. Bharat Coking Coal made a great market debut with a 96% premium over its IPO price. DGCA imposed penalties of Rs. 22.20 crore on IndiGo for flight disruptions in December, though the stock gained 3.14%.

Commodities Market: Gold Prices Hit Record High 

Gold prices surged to an all-time high of $4,689 per ounce as investors rushed to safe-haven assets following US President Donald Trump's announcement of 10% tariffs. The levy would be on eight European nations over the Greenland issue. Spot gold traded 1.5% higher at $4,663.

Indian rupee opened at 90.70 per dollar, slightly stronger than January 16’s close of 90.86. However, it was trading under pressure amid continued foreign institutional investor (FII) outflows. FIIs sold shares worth Rs. 4,346 crore on January 16, while domestic institutional investors (DIIs) bought Rs. 3,935 crore worth of equities.

Investor Outlook

The stock market today reflected cautiousness amid global uncertainties and domestic earnings concerns. Traders flocked to safe-haven assets to avoid losses. They are expected to remain selective and focused on fundamentally strong stocks. The 25,600-25,900 range is key for Nifty, with a sustained breakout needed for directional momentum.

Also Read: ETFs or Mutual Funds? Choosing the Right Investment in 2026

FAQs

1. What happened in the stock market today?

The markets reacted negatively due to uncertainty regarding the direction of global trade policy. Sensex dropped 566 points to 83,004, while the Nifty fell 170 points to trade at 25,524. Banking and IT stocks, along with Reliance, were the primary contributors to the declines seen on both Sensex and Nifty.

2. Why did Sensex and Nifty fall today?

Market was on a downtrend after the announcement by President Trump of tariffs on several European countries. The resulting selling pressure on bank stocks, Reliance, and IT stocks added to the downward pressure on the benchmark indices (Sensex and Nifty).

3. What is the gold price today and why is it rising?

The price of gold reached $4,689 per ounce during trading. Spot gold traded around $4,663 per ounce. The increase in gold prices is a result of investors seeking safe-haven investments in the wake of increased geopolitical tensions surrounding tariffs and trade disputes globally.

4. Which stocks were the biggest losers today?

Wipro was the biggest loser, dropping 9% on the release of lower than expected Q3 financial results. ICICI Bank was down 2.84%, and Reliance Industries fell 3.33%. RBL Bank was down 7.18% despite substantial profit growth.

5. Which stocks gained in today’s market?

The biggest gainers today were Tech Mahindra shares, which were up 3.39% following a very strong Q3 earnings report, and IndiGo, which gained 3.14% despite being hit with regulatory fines. Other areas of strength in the market included the FMCG and metal sectors, which both demonstrated relative strength compared to the rest of the Indian market.