opened on a cautious note on Monday morning, with the declining 526.48 points or 0.63 per cent to trade at 83,043.87, down from its previous close of 83,570.35 and opening level of 83,494.49. The fell 154.50 points or 0.60 per cent to 25,539.85 from its previous close of 25,694.35, after opening at 25,653.10.
“Indian equity markets are expected to open on a range-bound note with a mild positive bias, supported by continued strength in IT stocks following Infosys’ upgraded earnings guidance and steady resilience in the banking sector,” said Ponmudi R, CEO of Enrich Money.
“However, upside is expected to remain capped by persistent FII outflows, global tariff uncertainties and geopolitical concerns, keeping overall risk appetite cautious.”
The market decline came as President Trump announced fresh tariffs on European nations, with rates set to rise from 10 per cent to 25 per cent by June unless a Greenland deal is reached.
“We don’t know now how President Trump’s disruptive policies are going to impact international trade and global economic growth,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
“If Trump walks his talk and imposes 10 per cent tariffs on the eight European countries on February 1st and follows it up by raising the tariffs to 25 per cent from June 1st onwards, retaliation by the European bloc is almost certain.”
Among individual stocks, Wipro emerged as the biggest loser on the Nifty50, plunging 7.01 per cent to ₹248.70 from its previous close of ₹267.45. Tata Motors Passenger Vehicles declined 3.25 per cent to ₹342.10 from ₹353.60, while ICICI Bank fell 2.82 per cent to ₹1,371.00 from ₹1,410.80. Reliance Industries dropped 2.53 per cent to ₹1,421.00 from ₹1,457.90, and Infosys shed 1.19 per cent to ₹1,669.70 from ₹1,689.80.
On the gainers’ side, IndiGo led with a 3.50 per cent jump to ₹4,906.00 from ₹4,740.00. Tech Mahindra gained 3.30 per cent to ₹1,725.60 from ₹1,670.50, while Bajaj Finance advanced 1.23 per cent to ₹961.95 from ₹950.25. Hindustan Unilever rose 1.12 per cent to ₹2,386.90 from ₹2,360.40, and Trent climbed 0.96 per cent to ₹3,937.00 from ₹3,899.70.
“Nifty 50 opened near 25,650 but faced early selling pressure, slipping below 25,600 and touching an intraday low of 25,528, where buying support emerged,” noted Ponmudi R. “The index is now trading sideways with a mildly cautious bias, continuing to consolidate within the broader 25,500–25,900 range.”
Bank Nifty opened steady around 60,100 but quickly slipped below the 60,000 psychological mark. “Bank Nifty opened steady around 60,100 but quickly slipped below the 60,000 psychological mark. Despite this, it continues to show relative strength versus Nifty and remains structurally resilient,” said Ponmudi R.
Foreign Institutional Investors remained net sellers on January 16, offloading shares worth approximately ₹4,346 crore, while Domestic Institutional Investors provided support by purchasing equities worth around ₹3,935 crore.
“Amid persistent global uncertainty, traders are advised to remain selective and disciplined, focusing on fundamentally strong stocks during market declines,” said Hitesh Tailor, Technical Research Analyst at Choice Broking.
Across sectors, market activity remained mixed. “In the last week, the benchmark indices experienced a volatile trading session. The Nifty and Sensex closed the week largely unchanged,” said Shrikant Chouhan, Head Equity Research at Kotak Securities.
“Among sectors, the Capital Market and PSU bank indices outperformed, with the Capital Market gaining 4.85 per cent and the PSU bank index rallying 4.7 per cent, whereas the Nifty Consumer index shed over 2.9 per cent.”