Barometers drift lower in early trade; VIX surges 8.07%
At 09:30 IST, the barometer index, the S&P BSE Sensex, dropped 434.67 points or 0.52% to 83,141.57. The Nifty 50 index fell 130.95 points or 0.50% to 25,552.35.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index tumbled 1.38% and the S&P BSE Small-Cap index plunged 1.96%.
The market breadth was weak. On the BSE, 812 shares rose and 2,456 shares fell. A total of 207 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was up 8.07% to 11.81.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,769.31 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,595.84 crore in the Indian equity market on 08 January 2026, provisional data showed.
Stocks in Spotlight:
Globus Spirits rose 1.91% after the company?s standalone net profit skyrocketed over fifteen times to Rs 31.42 crore on a 19.1% increase in revenue from operations (excluding excise duty) to Rs 716.39 crore in Q3 FY26 over Q3 FY25.
Indian Renewable Energy Development Agency (IREDA) advanced 2.93% after the company?s consolidated net profit rallied 15.42% to Rs 1,381.36 crore on 26.80% increase in total revenue from operations to Rs 6,135.08 crore in Q3 FY26 over Q3 FY25.
Tejas Networks tumbled 7.15% after the company reported a consolidated net loss of Rs 196.55 crore in Q3 FY26, compared with a net profit of Rs 165.67 crore recorded in Q3 FY25. The company?s total revenue from operations plunged 88.38% to Rs 306.79 crore in Q3 FY26, down from Rs 2,642.24 crore recorded in the corresponding quarter of the previous year.
Numbers to Track:
The yield on India's 10-year benchmark federal paper slipped 0.18% to 6.624 compared with previous session close of 6.636.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.2250 compared with its close of 90.1800 during the previous trading session.
MCX Gold futures for 5 February 2026 settlement gained 1.32% to Rs 1,40,635.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.13% to 98.76.
The United States 10-year bond yield fell 0.14% to 4.178.
In the commodities market, Brent crude for March 2026 settlement added 14 cents or 0.22% to $63.48 a barrel.
Global Markets:
Asia market rose on Monday following Wall Street gains from last week after a U.S. job report showed that unemployment rate fell, signaling resilience in the labor market. Japanese markets were closed for a holiday.
Investors will be keeping an eye on oil prices as Iran entered a third week of protests, which have reportedly seen more than 500 people killed. President Donald Trump is weighing options for intervention in Iran, media reports said.
On Sunday, Japanese Prime Minister Sanae Takaichi?s coalition partner, Hirofumi Yoshimura, said that she may call an early general election. His comments come after domestic media reported that Takaichi was considering a snap election in February, citing government sources.
On Friday stateside, the S&P 500 rose to new highs on Friday, notching a weekly gain, following the release of the latest jobs report.
The broad market index closed up 0.65% to 6,966.28, a fresh record close. It also notched a new all-time intraday high in the session.
The Nasdaq Composite gained 0.81% to 23,671.35. The Dow Jones Industrial Average added 237.96 points, or 0.48%, to end at 49,504.07, scoring a new closing record as well.
The December jobs report showed nonfarm payrolls increasing by 50,000 last month, less than the 73,000 estimate that was widely reported in the media. That data, though slightly weaker than expected, showed a U.S. economy that?s still trudging along, with investors anticipating that growth will ramp up.
The unemployment rate inched down to 4.4%, while widely circulated media reports had provided a forecast of 4.5%. Traders took that as a sign that improvement in the economy would happen soon.
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