Sensex, Nifty end lower as early rally fizzles; profit-taking bites
The BSE Sensex slid as much as 995 points from the day?s high, while the Nifty 50 dropped 296 points as selling pressure intensified through the session. The Nifty, which touched an intraday high of 25,899.80 in early trade, slipped below the 25,750 mark by the close. Consumer durables and pharmaceutical stocks were among the worst hit.
The decline was driven largely by profit-taking in heavyweight stocks after the recent rally, with investors choosing to lock in gains amid uncertain global cues. Rising crude oil prices added to the pressure, stoking concerns over inflation and the current account outlook.
Persistent foreign institutional selling weighed on sentiment, even as domestic participation remained robust. The rupee?s weakness against the dollar further dampened risk appetite, especially for import-sensitive sectors.
From a technical perspective, market indicators continued to flag fragile momentum, suggesting limited near-term upside and keeping traders cautious amid elevated volatility.
The S&P BSE Sensex slipped 250.48 points or 0.30% to 83,627.69. The Nifty 50 index lost 57.95 points or 0.22% to 25,732.30.
Trent (down 3.39%), Larsen & Tourbo (down 3.25%) and Reliance Industries (down 2.14%) were major drags today.
In the broader market, the S&P BSE Mid-Cap index declined 0.16% and the S&P BSE Small-Cap index rose 0.46%.
The market breadth was negative. On the BSE, 2,038 shares rose and 2,099 shares fell. A total of 201 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.49% to 11.20.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.36% to 6.629 compared with previous session close of 6.605.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.2175 compared with its close of 90.1750 during the previous trading session.
MCX Gold futures for 5 February 2026 settlement shed 0.32% to Rs 141,580.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 98.96.
The United States 10-year bond yield rose 0.22% to 4.195.
In the commodities market, Brent crude for March 2026 settlement gained $1.05 or 1.64% to $64.92 a barrel.
Global Markets:
Most European indices traded lower on Tuesday as investors kept a wary eye on geopolitical developments, key inflation data, and the new quarterly earnings season.
Most Asian markets ended higher as traders shrugged off geopolitical flashpoints in Iran and Venezuela, as well as a criminal investigation into U.S. Federal Reserve Chair Jerome Powell.
Japan?s benchmark Nikkei 225 jumped 3.13% to lead gains in the region. Japan?s ruling Liberal Democratic Party is expected to dissolve the country?s Lower House later this month and opt for a snap election likely in February, according to media reports.
Traders also kept a close eye on oil prices amid ongoing protests in Iran. President Donald Trump is reportedly weighing options for intervention in Iran, according to multiple media reports.
Trump in a social media post on Monday stateside reportedly said any country doing business with Iran will face a 25% tariff ?on any and all business being done with the United States of America.? That new tariff on imports from Iran?s trading partners is ?effective immediately.?
Overnight in the U.S., stocks rallied off their session lows, with the S&P 500 and Dow Jones Industrial Average hitting new all-time highs.
The S&P 500 rose 0.16% to end at 6,977.27, while the Dow Jones Industrial Average ticked up 86.13 points, or 0.17%, and settled at 49,590.20. Both indexes touched fresh all-time intraday highs and closed at records. The Nasdaq Composite was up 0.26% and closed at 23,733.90.
Stocks in Spotlight:
Tata Consultancy Services (TCS) rose 0.99%. The company reported an 11.74% decline in consolidated net profit to Rs 10,657 crore, despite 1.96% increase in revenue from operations to Rs 67,087 crore in Q3 FY26 over Q2 FY26. On year on year (YoY) basis, the company?s consolidated net profit declined 13.92%, while revenue from operations increased 4.87% in Q3 FY26. The decline in profitability was impacted due to one-time exceptional charges including Rs 2,120 crore related to the statutory impact of new labour codes and it also made a provision towards a legal claim of of Rs 1,010 crore during the December quarter.
HCL Technologies shed 0.19%. The company?s consolidated net profit declined 3.75% to Rs 4,076 crore in Q3 FY26, compared with Rs 4,235 crore in Q2 FY26. However, revenue from operations increased 6.04% to Rs 33,872 crore in Q3 FY26 as against Rs 31,942 crore posted in Q2 FY26. For FY26, HCL Tech expects revenue growth of 4-4.5% YoY in constant currency, services revenue growth of 4.75-5.25% YoY, and an EBIT margin of 17-18%.
Larsen & Toubro slipped 3.25% after media reports said Kuwait is considering cancelling and rebidding oil project tenders worth $8.7 billion, stoking concerns over potential order inflows. According to a Middle East-focused business news platform, Kuwait is reviewing five major upstream oil and gas contracts after bids reportedly came in above budget. The report said L&T was the lowest bidder in tenders valued at more than $4.5 billion, making the stock sensitive to any adverse developments.
Responding to a BSE query, L&T clarified that the projects referred to in the media report are not part of its order book. The company added that it does not comment on the status of tenders or the commercial decisions of its clients, easing concerns about any impact on confirmed orders.
Kalpataru rose 0.33% after the company?s collections jumped 17% to Rs 1,101 crore in Q3 FY26 from Rs 943 crore in Q3 FY25.
Maharashtra Scooters surged 6.73% after the company reported a 24.84% surge in standalone net profit to Rs 4.12 crore on a 11.22% rise in total income to Rs 6.44 crore in Q3 FY26 over Q3 FY25.
Omaxe soared 12.63% after the company unveiled plans to invest Rs 500 crore in a new mixed-use development project, Omaxe Chowk, in Ludhiana.
Lotus Chocolate Company slumped 9.71% after the company?s standalone net profit tumbled 96.22% to Rs 0.14 crore in Q3 FY26 as against Rs 3.71 crore posted in Q3 FY25. Revenue from operations rose 18.90% to Rs 133.63 crore in the third quarter of FY26 from Rs 146.69 crore recorded in Q3 FY25.
GTPL Hathway fell 7.93%. The company?s consolidated net profit jumped 8.3% to Rs 11.01 crore on 5.1% rise in revenue from operations to Rs 932.62 crore in Q3 December 2025 over Q3 December 2024.
Anand Rathi Wealth added 0.51%. The company reported 29.6% rise in net profit to Rs 100.1 crore on a 22.2% increase in revenue from operations to Rs 289.6 crore in Q3 FY26 as compared with Q3 FY25.
Indo Thai Securities rose 2.11% after the company reported a 1,629.29% surge in consolidated net profit to Rs 17.12 crore on a 400.18% jump in total revenue from operations to Rs 27.71 crore in Q3 FY26 over Q3 FY25.
Puravankara shed 0.22%. The company said that its wholly owned subsidiary Starworth Infrastructure & Construction (SICL) has received a letter of intent (LoI) for the construction of an East Bangalore-based proposed residential project Sattva AANGANE.
A B Infrabuild advanced 3.50% after the company announced that it has received a letter of acceptance worth Rs 55.26 crore for a new infrastructure project from East Coast Railways, Indian Railways.
B.R. Goyal Infrastructure rose 1.72% after the company received a work order worth Rs 86.70 crore from the National Highways Authority of India (NHAI) for user fee collection at Simliya and Fatehpur fee plazas on NH-76 in Rajasthan.
Oriental Hotels gained 2.84% after its consolidated net profit jumped 44.08% to Rs 20.69 crore on a 14.23% jump in revenue from operations to Rs 139.25 crore in Q3 FY26 over Q3 FY25.
IPO Update:
Bharat Coking Coal's IPO received bids for 50,91,41,64,600 shares as against 34,69,46,500 shares on offer, according to stock exchange data at 16:54 IST on Tuesday (13 January 2026). The issue was subscribed 146.75 times.
The issue opened for bidding on Friday (9 January 2026) and it will close on Tuesday (13 January 2026). The price band of the IPO is fixed between Rs 21 and 23 per share.
Amagi Media Labs' IPO received bids for 17,05,518 shares as against 2,72,66,589 shares on offer, according to stock exchange data at 16:54 IST on Tuesday (13 January 2026). The issue was subscribed 0.06 times.
The issue opened for bidding on Tuesday (13 January 2026) and it will close on Friday (16 January 2026). The price band of the IPO is fixed between Rs 343 and 361 per share.
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