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Bourses move deep into red zone during late deals
Jan-23-2026

Bourses have moved deep into the red zone during late trade with market heavy weights like Reliance Industries and HDFC Bank leading the losses. The European Union’s suspension of export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries has made investors nervous especially at a time when the India and EU are set to announce the conclusion of negotiations on the much-awaited free trade agreement during India-EU summit. Besides, persistent fund outflows by foreign institutional investors (FIIs) have sparked caution among market participants. FIIs were the net sellers on Thursday’s session offloading equities worth Rs 2,549.80 crore. Moreover, market sentiments remained cautious after US Securities and Exchange Commission sought permission to personally email summons to Adani Group’s chairman Gautam Adani and group executive Sagar Adani over alleged fraud.

On the global front, Asian and European equity markets were trading mostly in green tracking gains on Wall Street overnight.

The BSE Sensex is currently trading at 81687.37, down by 620.00 points or 0.75% after trading in a range of 81489.11 and 82516.27. There were 10 stocks advancing against 20 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 1.26%, while Small cap index was down by 1.72%.

The lone gaining sectoral index on the BSE was Consumer Durables up by 0.24%, while Utilities down by 3.12%, Realty down by 3.00%, Power down by 2.49%, Capital Goods down by 1.78% and PSU down by 1.42% were the losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 1.04%, Tech Mahindra up by 1.01%, Asian Paints up by 0.96%, Titan Company up by 0.75% and TCS up by 0.46%. On the flip side, Adani Ports & SEZ down by 7.97%, Eternal down by 5.71%, Interglobe Aviation down by 4.27%, Power Grid Corporation down by 2.25% and Bajaj Finserv down by 2.18% were the top losers.

Meanwhile, India’s flash Purchasing Managers’ Index (PMI) data report has showed that business activity in the country’s private sector bounced back sharply in January 2026, after losing some momentum at the end of the 2025 calendar year. The HSBC Flash India Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors – rose to 59.5 in January 2026 from December’s 11-month low of 57.8, indicated a sharp rate of expansion that was above the long-run series average. The growth is attributed to quicker increases in new orders and output, alongside the reinstatement of job creation and a rebound in business confidence.

The HSBC Flash India Manufacturing PMI - a weighted average of the New Orders, Output, Employment, Suppliers’ Delivery Times and Stocks of Purchases indices - rose from 55.0 in December to 56.8 in January. This signalled the best improvement in operating conditions since last October. January data showed back-to-back increases in outstanding business volumes across the private sector, but the rate of accumulation was marginal and solely driven by an uptick among goods producers. Service providers generally indicated that they were able to complete existing work in a timely manner. Input prices at the composite level rose at the quickest pace in four months during January, albeit one that was modest by historical standards. Underlying data showed that cost pressures were more pronounced in the service economy.

The report noted that at the same time, rates of output price inflation across the manufacturing and services categories matched. When combined, they showed the fastest increase in private sector charges for three months. That said, the respective seasonally adjusted index was equal to its long-run average. When assessing the 12-month outlook for business activity, Indian private sector companies were optimistic. The overall level of positive sentiment remained below its long-run average, but rose to a three-month high. It said boding well for growth prospects, were efficiency gains and demand buoyancy. Allocated marketing budgets and favourable exchange rates were also identified as tailwinds.

The CNX Nifty is currently trading at 25088.20, down by 201.70 points or 0.80% after trading in a range of 25041.00 and 25347.95. There were 16 stocks advancing against 34 stocks declining on the index.

The top gainers on Nifty were Dr. Reddy's Laboratories up by 1.80%, Tech Mahindra up by 1.07%, Hindustan Unilever up by 1.02%, Asian Paints up by 0.92% and Hindalco up by 0.83%. On the flip side, Adani Enterprises down by 9.41%, Adani Ports & SEZ down by 7.96%, Eternal down by 5.64%, Interglobe Aviation down by 4.19% and Cipla down by 3.66% were the top losers.

Asian equity markets were trading mostly in green; Nikkei 225 surged 149.11 points or 0.28% to 53,838.00, Taiwan Weighted added 215.43 points or 0.67% to 31,961.51, Hang Seng advanced 100.04 points or 0.37% to 26,730.00, KOSPI increased 37.54 points or 0.75% to 4,990.07 and Straits Times rose 61.46 points or 1.27% to 4,889.78 and Shanghai Composite strengthened 13.58 points or 0.33% to 4,136.16, while Jakarta Composite plunged 61.81 points or 0.69% to 8,930.37.

European equity markets were trading mostly in green; UK’s FTSE 100 increased 20.53 points or 0.2% to 10,170.58 and Germany’s DAX gained 76.53 points or 0.31% to 24,933.00, while France’s CAC fell 3.89 points or 0.05% to 8,145.00.
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