Stock Market Today: Sensex Trades at 83,961, Nifty Slips 0.23% as PSU Banks Gain 1%

Overview:

• Sensex fell 0.26% to 83,961 while Nifty slipped 0.23% to 25,818.

• PSU banks gained 1%, led by Union Bank, up 2.25%, and Indian Bank, rising 2.11%.

• Vodafone Idea jumped 5.74%, and BHEL rose 3.80% on major corporate announcements.

Indian stock market today (January 9, 2026) saw mixed trading, as benchmark indices slipped amid broad-based selling pressure. Sensex traded at 83,961.80, down 211 points or 0.26%. Nifty stood at 25,818.30, falling 0.23% at press time. The realty, power, and media sectors faced huge losses, while telecom and PSU banks managed to stay in the green zone. Let’s explore how individual stocks performed today based on Moneycontrol Live Updates.

Stocks in Focus

Stock market today saw IT stocks gain 0.6%, with Infosys up 0.97% and HCL Tech rising 0.96%. Consumer durables also performed well, with Havells India jumping 1.82% and Asian Paints gaining 1.3%.

On the other hand, the realty sector dropped 1%, while media stocks extended their fall for a second day. Sun TV Network fell 1.58%, and PVR INOX declined 1.11%. The metal sector also faced pressure amid global uncertainty.

Share Market News: Major Corporate Developments

Reliance Industries scheduled its board meeting for January 16 to consider quarterly results. The stock gained 0.21% to trade at Rs. 1,473.45, showing resilience after previous session losses.

Bajaj Finserv completed a major acquisition. It picked up a 23% stake in two insurance subsidiaries from Allianz SE for Rs. 21,390 crore. This increased the Bajaj Group's ownership to 97% in both Bajaj General Insurance and Bajaj Life Insurance.

Vodafone Idea received relief from the Department of Telecommunications regarding AGR dues. The company will pay a maximum of Rs. 124 crore annually over the next six years. This positive news sent Vodafone Idea shares surging 5.74% to Rs. 12.16. At the same time, Indus Towers stock jumped 4.64% to hit a 52-week high of Rs. 455.

Banking Sector Shows Optimism

While Nifty Bank index traded 0.42% lower, Public sector unit (PSU) banks bucked the trend by gaining 1%, snapping a two-day losing streak. Union Bank shares led PSU bank gainers with a 2.25% jump. It was followed by Indian Bank which was up 2.11% and Bank of Maharashtra, rising 1.98%. State Bank of India (SBI) added 0.76% to trade at Rs. 1,005.55.

However, private banks faced selling pressure. ICICI Bank featured among top losers, while HDFC Bank had a block deal of 13.35 million shares, according to Bloomberg reports. The stock traded at Rs. 943, down 0.38% at press time.

Also Read: Dividend Stocks in 2026: Safe Haven or Missed Opportunity?

Defense and Infrastructure Orders Boost Sentiment

Bharat Heavy Electricals (BHEL) secured a massive Rs. 5,400 crore order from Bharat Coal Gasification and Chemicals for a coal gasification plant. The defense stock rallied 3.80% to Rs. 282.65. UBS maintained its 'buy' rating with a target of Rs. 375, noting this order brings BHEL to 60% of its FY26 order target.

Astra Microwave Products received a Rs. 275.27 crore order from the Indian Air Force for software-defined radio integration. The stock gained 0.76% to trade at Rs. 1,011.95.

Gold ETFs See Record Inflows

Indian Gold ETFs were at their highest-ever monthly inflows of $1.25 billion in December 2025. For the full year, inflows reached $4.68 billion, the highest on record, compared to just $1.29 billion in 2024. This shows growing investor interest in gold as a safe-haven asset.

IPO Activity Remains Strong

Bharat Coking Coal's IPO subscribed 1.71 times on Day 1, with retail investors showing strong interest at 2.20 times subscription. The company raised Rs. 273.13 crore from anchor investors ahead of the public issue.

Rupee and FII Activity

Indian rupee opened 14 paise higher at 89.88 per dollar but later traded flat at 90.01. Foreign Institutional Investors (FIIs) remained net sellers for the fourth straight session, offloading equities worth Rs. 3,367 crore on January 8. However, Domestic Institutional Investors (DIIs) provided strong support, purchasing Rs. 3,701 crore worth of shares.

Also Read: Budget 2026: Inflation Slide Sets Stage for RBI’s Next Big Move

Market Outlook

Indian stock market today faced headwinds from persistent FII outflows and global uncertainty around US tariffs. However, strong DII support and improving corporate earnings provide a cushion. Analysts suggest 25,700 as the next key support level for Nifty, while the 26,000-26,100 zone acts as immediate resistance. Investors should remain selective and focus on fundamentally strong stocks during this volatile phase.

FAQs

1. Why did Sensex and Nifty fall today?

Sensex and Nifty today were affected negatively by broad-based selling pressure on their respective market indices, as well as continued outflows from foreign institutional investors (FIIs). The weakness of the private banking, commercial real estate, media, and metal sectors provided some upside potential for the overall market. Conversely, prices for the banking and technology sectors remained stable during this time period. 

2. Why did PSU bank stocks perform better than private banks?

PSU banks gained due to bargain buying after recent losses and improved sentiment around valuations. Strong buying in names like Union Bank and Indian Bank helped the sector outperform, while private banks faced selling pressure and block deal activity.

3. What corporate developments influenced the market today?

Bajaj Finserv's acquisition of an insurance company boosted investor sentiment. The other key corporate developments included Vodafone Idea's relief related to its adjusted gross revenue (AGR); Bharat Heavy Electrical's (BHEL) provision of a large defence-related contract; and Reliance Industries Limited issuing a notice for its quarterly board meeting.

4. Why did gold ETFs see record inflows in December?

Gold exchange-traded funds (ETFs) received record levels of investment in December, driven by an increasing desire among investors to seek safe investments amid turbulent economic conditions, growing global market uncertainty, and continued outflows from equity investments. Investors are increasingly treating gold as a viable option for protecting them from risk and foreign currency fluctuations.

5. What should investors watch in the coming sessions?

The primary item of interest for investors in subsequent trading days will be foreign institutional investment (FII) flows, changes in tariffs and tariff practices, and updates from companies regarding their earnings. In terms of technical analysis, it will be important to note Nifty's support and resistance levels, which are near 25,700 and around 26,000 – 26,100, respectively. Nifty will likely follow the direction defined by these two significant points moving forward.