Weekly Update- 09 January 2026

NIFTY50

Nifty ended the week at 25,683, registering a sharp decline of 645 points (-2.45%). The week started with a strong downmove, primarily led by weakness in Reliance, which faced stock-specific uncertainty and weighed heavily on the index. As the week progressed, selling pressure broadened across the market, with midcap and smallcap stocks also coming under significant pressure, reflecting a shift toward risk aversion. The sustained weakness resulted in Nifty closing near its weekly lows, highlighting cautious investor sentiment. Going ahead, key support is placed around 25,200, which will be crucial to hold, while resistance is seen near 26,000, where selling pressure is likely to emerge.

BANKNIFTY

Bank Nifty ended the week at 59,252, down 899 points (-1.5%). Despite the decline, the index outperformed Nifty on a relative basis, as it fell less than the broader market. This resilience was largely driven by strong performance in PSU banks, which clearly outpaced private banks during the week and helped cushion the overall downside in the index. While some profit booking and broader market weakness weighed on sentiment, the banking space showed better stability compared to other sectors. Looking ahead, key support is placed around 58,700, which will be crucial to hold, while resistance is seen near 60,000, where selling pressure may re-emerge.

TOP GAINING SECTOR

NIFTY INDDEFENCE was top gainer sector for the week

BEL:- up by 3.84%

BDL:- up by 1.71%

HAL:- up by 1%

DATAPATTNS:- up by 1.1%

TOP LOSING SECTOR

NIFTY ENERGY was top losing sector for the week

Major losers were:-

HINDPETRO:- down by 9.5%

SUZLON:- down by 9.36%

RELIANCE:- down by 7.35%

BPCL:- down by 7.16%

IMPORTANT NEWS

• Markets ended the week sharply lower as weak global cues and rising uncertainty triggered a broad risk-off move. Sentiment was hit by concerns over higher US tariffs on Indian exports, uncertainty around India–US trade ties, geopolitical tensions involving the US and Venezuela, and persistent selling by foreign institutional investors.

• US President Donald Trump has given a nod to the bipartisan Russia Sanctions Bill, which empowers him to slap tariffs as high as 500 per cent on countries that purchase Russian oil, gas, uranium and other exports. India could be hit hard because of the legislation.

• Markets ended the week sharply lower as weak global cues and rising uncertainty triggered a broad risk-off move. Sentiment was hit by concerns over higher US tariffs on Indian exports, uncertainty around India–US trade ties, geopolitical tensions involving the US and Venezuela, and persistent selling by foreign institutional investors.

• As global macro conditions shift, investors are rethinking asset allocation for 2026. Gurmeet Chadha of Complete Circle Consultants highlights constructive prospects for Indian equities, caution on silver, moderation in global AI-led trades, and potential outperformance in long-duration bonds, supported by fiscal strength and likely inclusion in the global bond index.

• India's defence manufacturing sector sees enhanced medium-term visibility due to accelerated capital acquisition approvals, with FY26 year-to-date clearances nearly double the annual outlay. This robust pipeline, spanning diverse military needs and emphasizing integrated systems, de-risks future order inflows for the sector over the next two to four years.

• Securities and Exchange Board of India (SEBI) chairman Tuhin Kanta Pandey said on Saturday that the regulator is at an advanced stage of issuing the No Objection Certificate (NOC) for the National Stock Exchange’s (NSE) initial public offering (IPO) and that it "may be done within this month", according to an ANI video.