Mumbai, India | January 9, 2026
Indian equity benchmarks opened lower on Thursday, extending their losing streak amid sustained foreign fund outflows and renewed concerns over potential tariff hikes by the United States.
In early trade, the BSE Sensex declined 255.86 points to 84,705.28, while the NSE Nifty slipped 65.90 points to 26,074.85, falling below the key 26,200 level. The Indian rupee also weakened marginally, slipping 3 paise to 89.90 against the US dollar in early trade.
Sensex Stocks Performance
Among the 30 Sensex constituents, Tata Consultancy Services, Asian Paints, Maruti Suzuki, Tech Mahindra, Infosys, and UltraTech Cement emerged as the top laggards. On the other hand, ICICI Bank, Adani Ports, Bharat Electronics, and Hindustan Unilever were among the gainers.
Expert View
VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said that from a fundamental perspective, the outlook for the Indian economy remains positive. He highlighted that early estimates point to a robust 7.4% GDP growth in FY26, underscoring the economy’s resilience despite tariff-related challenges.
However, he noted that this strong macroeconomic foundation may not immediately reflect in market performance due to the absence of a long-awaited India–US trade agreement and continued selling pressure from foreign institutional investors.
Ponmudi R, CEO of online trading and wealth-tech firm Enrich Money, said that both Nifty and Bank Nifty are holding crucial support levels but face stiff resistance at higher levels, keeping market sentiment cautious amid geopolitical tensions, tariff uncertainties, and persistent FPI outflows.
Indian Economy Outlook
India’s economy is expected to grow 7.4% in the current financial year, maintaining its position as the fastest-growing major economy globally despite punitive US tariffs and geopolitical risks.
According to the first advance estimates released by the Ministry of Statistics and Programme Implementation (MoSPI), GDP growth for FY26 (April 2025–March 2026) is projected to surpass the RBI’s estimate of 7.3% and the government’s earlier projection range of 6.3–6.8%.
Global Markets and Commodities
Asian markets showed a mixed trend, with South Korea’s Kospi and China’s Shanghai Composite trading higher, while Japan’s Nikkei 225 and Hong Kong’s Hang Seng were in the red. US markets closed mostly lower on Wednesday.
Meanwhile, Brent crude oil rose 0.40% to $60.20 per barrel.
Institutional Activity
Exchange data showed that foreign institutional investors (FIIs) sold equities worth ₹1,527.71 crore on Wednesday, while domestic institutional investors (DIIs) purchased shares worth ₹2,889.32 crore.
On Wednesday, the Sensex had closed 102.20 points, or 0.12%, lower at 84,961.14, while the Nifty ended 37.95 points, or 0.14%, down at 26,140.75.
