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Markets trade higher with IT stocks taking lead
Jan-16-2026

Indian equity benchmarks made slightly positive start on Friday following the broadly positive cues from Wall Street overnight as well as sharp fall in crude oil prices overnight. Healthy buying in IT, Teck and Realty counters supported Sensex and Nifty 50 to trade higher in early deals. Signs on positive development in India and EU trade pact buoyed investors sentiments. Commerce Secretary Rajesh Agrwal said that India and the EU are very close to concluding negotiations on the proposed free trade agreement (FTA), with discussions underway to resolve remaining issues. Sentiments also got a boost as the World Bank raised India's GDP growth forecast to 7.2 per cent for the current fiscal, up by 0.9 percentage points from its June projections, on the back of robust domestic demand and tax reforms. However, upside remained capped amid persistent foreign fund outflows, as foreign institutional investors (FIIs) were net sellers to the tune of Rs 4,781.24 crore on Wednesday.

On the global front, Asian markets were trading mixed amid easing geopolitical concerns about a confrontation between the U.S. and Iran. Technology stocks also aid in the surge on revived AI-driven growth optimism. Besides, a report showing first-time claims for U.S. unemployment benefits unexpectedly dipped in the week ended January 10, partly offsetting concerns about the strength of the labor market. Meanwhile, Indonesia is closed for the Ascension of Prophet Muhammad. Back home, in stock specific development, Infosys rallied after unexpectedly raising its revenue forecast. While, its peer Wipro and Tech Mahindra rose ahead of their earnings results due later in the day.

The BSE Sensex is currently trading at 83673.95, up by 291.24 points or 0.35% after trading in a range of 83510.34 and 83726.15. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.34%, while Small cap index was up by 0.13%.

The top gaining sectoral indices on the BSE were IT up by 2.77%, TECK up by 1.64%, Realty up by 1.60%, Bankex up by 0.71% and Oil & Gas up by 0.57%, while Telecom down by 1.29%, Healthcare down by 0.67%, Capital Goods down by 0.44%, Metal down by 0.24% and Basic Materials down by 0.17% were the top losing indices on BSE.

The top gainers on the Sensex were Infosys up by 4.91%, Tech Mahindra up by 2.63%, HCL Technologies up by 1.22%, Kotak Mahindra Bank up by 1.19% and Mahindra & Mahindra up by 1.12%. On the flip side, Eternal down by 2.67%, Bharti Airtel down by 1.48%, Bharat Electronics down by 0.99%, Ultratech Cement down by 0.78% and Maruti Suzuki down by 0.77% were the top losers.

Meanwhile, highlighting robust domestic demand and tax reforms, the World Bank in its flagship report ‘Global Economic Prospects’ has upwardly revised India’s Gross Domestic Product (GDP) growth forecast by 0.9 percentage points to 7.2% for the current fiscal year (FY26), from its June projections of 6.3%. However, it said growth in the country is projected to slow to 6.5% in 2026-27. The projection is based on the assumption that the 50-per cent import tariffs by the US remain in place throughout the forecast horizon. It noted that India is likely to maintain the fastest growth rate among the world's largest economies.

The report further said that despite higher tariffs on certain exports to the United States, the growth forecast has remained unchanged relative to June projections, primarily because the adverse impacts of those tariffs will be offset by stronger momentum in domestic demand and more resilient exports than previously anticipated. The US accounts for about 12 per cent of India's merchandise exports. It added that growth is set to inch up to 6.6% in FY 2027-28, underpinned by robust services activity, as well as a recovery in exports and a pickup in investment.

On the rupee, it said India's currency has depreciated since May amid capital outflows driven by higher US tariffs and heightened trade-related uncertainty. It also said the global economy has shown notable resilience to heightened trade tensions and policy uncertainty. It noted that last year, stockpiling of traded goods, strong risk appetite, and a surge in artificial intelligence spending supported activity, while supply chains adapted to rising trade barriers. It said the faster-than-expected pace of growth capped a five-year global recovery from the 2020 recession unmatched in more than six decades, but this masks a sharp divergence.

The CNX Nifty is currently trading at 25725.75, up by 60.15 points or 0.23% after trading in a range of 25678.40 and 25743.25. There were 27 stocks advancing against 22 stocks declining, while 1 stock remained unchanged on the index.

The top gainers on Nifty were Infosys up by 4.69%, Wipro up by 3.11%, Shriram Finance up by 2.57%, Tech Mahindra up by 2.37% and HCL Technologies up by 1.34%. On the flip side, Cipla down by 3.53%, Eternal down by 2.82%, HDFC Life Insurance down by 1.87%, Sun Pharma down by 1.35% and ONGC down by 1.33% were the top losers.

Asian markets were trading mixed; Taiwan Weighted surged 560.15 points or 1.82% to 31,370.73, KOSPI rose 27.36 points or 0.57% to 4,824.91 and Straits Times advanced 10.26 points or 0.21% to 4,843.60. On the other hand, Nikkei 225 slipped 132.5 points or 0.24% to 53,978.00, Hang Seng declined 55.62 points or 0.21% to 26,868.00 and Shanghai Composite was down by 9.15 points or 0.22% to 4,103.45.
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