Stock Market Today: Bears Drag Nifty To Three-Month Low, Sensex Slumps 1,000 Points

That's all for today folks. Before we part for the day here are a few stories for you to catch up on:

Davos 2026: Seven Indian Corporate Titans To Join Trump's Exclusive Industrialist Summit — Check Details

IndiGo Faces Rs 2,000 Crore Hit From December Flight Disruptions

Davos 2026: Why Swiggy Isn't Rushing Back to Markets Despite Quick Commerce Heat

From Rupee Weakening To FII Outflows: Five Reasons Why Markets Are Down Today

• HDFC Bank, Dr. Reddy's and Infosys emerged as the top gainers for the day.
• On the other hand, Reliance Industries, Bajaj Finance, M&M, L&T and Eternal were the worst performers of the Nifty 50 index.

• Broader indices on the other hand ended in the negative. Nifty Midcap 150 ended 2.49% lower and Nifty Smallcap 250 closed 2.68% lower.
• All sectoral indices fell with Nifty Realty and Nifty Defence leading the decline.
• The market breadth was skewed in the favour of sellers, as 3,496 stocks declined, 786 advanced and 130 remained unchanged on the BSE.

• Indian equities end volatile session in red, extending the fall for the second day. Nifty had fallen below the 25,200 levels but closed above it. 
• Intraday, both Nifty and Sensex fell nearly 1.50%, worst intraday fall since 7th April 2025.
• Nifty ends 353 points or 1.38% lower at 25,232.50.
• Sensex ends 1,065.71 points or 1.28% lower at 82,180.47.

Nifty declines 1,200 points from recent all-time high.

Nifty Index is trading near its lowest level since October 2025. The 300 points decline is the biggest fall since June 2025.

Nifty fell 1.24% to 25,267.15, while Sensex was down 1.14% to 82,297.49. Nifty Index is trading near its lowest level in two months. It has fallen 2.7% year-to-date making it the worst year-to-date performance in a decade.

Infosys on Tuesday announced that it has been recognised by Brand Finance, a brand valuation firm, as one of the world's top 3 most valuable IT services brands. 

In the Brand Finance Global 500 2026 report, Infosys was recognised as the fastest-growing brand with 15% CAGR over the last six years and a brand value of US$ 16.4 billion in 2026. 

Infosys also achieved a Brand Strength Index (BSI) score of 86.8 out of 100, ranking #80 within the Global 500 2026, an improvement of 16 places over the 2025 ranking.

After a slight upmove on Monday, markets have fallen sharply on Tuesday, with the benchmark Nifty 50 trading with cuts of more than 200 points or 0.82%. The Sensex has also fallen more than 600 points and is trading in the range of 82,600, with cuts of around 0.73%.

Here at NDTV Profit, we will take a look at five reasons why the markets are under pressure in trade on Tuesday.

• Rupee Weakening
• No FII Support
• US-India Trade
• Global Risk-Off Sentiment
• EU-USA Tariff Issues

As Davos 2026 enters its day 2 top seven business leaders will join group of 146 in meeting with US President Trump, source told NDTV Profit. The meeting is set to happen on Wednesday between 5 p.m. to 6 p.m. The seven industrialists include N. Chandrasekaran, Tata Sons, Chairman (Non-Independent, Non-Executive) TCS, Srini Pallia, Chief Executive Officer and Managing Director, Wipro, Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises and Dr Anish Shah, Group CEO and MD, Mahindra Group. Sanjiv Bajaj, Chairman and MD, Bajaj Finserv, Hari S Bhartia, Founder and Co-Chairman, Jubilant Bhartia Group and Salil Parekh, CEO and MD, Infosys will also be art of this meeting.

Newgen Sotfware shares hit over two-year low after its net profit fell over 23% on Tuesday.

Newgen Software Q3 Result Highlights (QoQ)

• Net Profit down 23.2% at Rs 62.8 crore versus Rs 81.7 crore.
• Revenue falls 0.1% to Rs 400crore versus Rs 401 crore.
• Ebit up 4.2% at Rs 97.2 crore versus Rs 93.3 crore.
• EBIT Margin at 24.3% versus 23.3%.

Check live Q3 Results here: Q3 Results LIVE: Canara Robeco AMC, AU SFB, ITC Hotels In Focus

Nifty fell 0.84% to 25,371.10, while Sensex was down 0.73% to 82,638.35. Nifty Index is trading near its lowest level in two months. It has fallen 2.7% year-to-date making it the worst year-to-date performance in a decade.

The IT sector has been a subject of much discussion in Indian markets, especially after major firms reported their third-quarter earnings for the financial year ending March 2026. With the year just kicking off, Pankaj Murarka, CIO of Renaissance Investment Managers, believes the IT sector is set to outperform markets in 2026.

Speaking to NDTV Profit, Murarka explained that a shift in client sentiment and the maturation of artificial intelligence could pave the way for the IT sector to realise better growth prospects in this calendar year.

"All of them are seeing that the environment is improving gradually," Murarka said, referring to the top five IT firms. "They're seeing many more deals, client conversations, and engagements are improving."

India's corporate presence is unusually visible at the World Economic Forum annual meeting in Davos this year, with founders and CEOs fielding questions on growth, capital and competitiveness. Among them is Swiggy, coming off a Rs 10,000-crore fundraise and navigating intensifying competition in quick commerce. In his conversation with NDTV Profit's Tamanna Inamdar from Davos, Rohit Kapoor, CEO of Swiggy's Food Marketplace, pushed back against speculation that the company may need to tap markets again soon.

"We've been very clear in our prospectus on what the funds are for," Kapoor said. "Food delivery is already profitable and throwing cash. This capital gives us strength to be competitive — not runway. There is no discussion around another fundraise at all."

He said questions around fresh capital are largely a by-product of rising competition rather than any internal funding stress.

Nifty 50 fell 2.7% on year-to-date basis making it the worst year-to-date start since 2016.

• Nifty 50 is trading near its lowest level in 2 months
• Declines in 9 out of the last 11 sessions
• In last 11 session, Nifty has declined over 900 points, i.e., 3.5%
• Nifty slips below 100-DMA

Havells shares have hit over 23-month low. Here's why the shares have fallen:

• Weak management commentary
• Lloyds facing seasonal pressure
• Q3 Margins disappoint - JP morgan believes margins to stay range bound 
• Overall EPS growth not accelerating due to weakness in other segments

Rupee touched its all-time low on Tuesday. Here's why

• Capital outflow concerns 
• Bonds rise on lower state debt supply 
• Overhang of US-India trade deal completion 
• FII remain sellers for 10th day in cash markets 
• Global risk off sentiment seen  

Over 1.97 million shares of Eternal were traded via another block deal on Tuesday. The share of Eternal fell as much as 3.68% to Rs 271 apiece.

India's largest airline, IndiGo, was rocked by a series of flight disruptions in early December 2025, with over three lakh passengers getting impacted. This led to serious financial ramifications for IndiGo, which has totalled to Rs 2,000 crore, sources have exclusively told NDTV Profit.

IndiGo cancelled over 4,500 flights through Dec. 12. As a result of these untimely cancellations, IndiGo had to bear the cost of passenger refunds, hotel accommodations, and serve a Rs 22.20 crore penalty imposed by the Directorate General of Civil Aviation. The regulator also ordered the carrier to submit a Rs 50 crore bank guarantee.

The airline is also grappling with significant operational recovery costs. According to the Civil Aviation Requirements (CAR), the carrier is liable for Rs 10,000 in compensation for specific delays.

Read full details: IndiGo Faces Rs 2,000 Crore Hit From December Flight Disruptions

• Indian equities were trading lower on Tuesday extending its fall for the second day.
• Intraday, both Nifty and Sensex fell nearly 0.60%. 
• Nifty fell 0.49% at 25,458.30 as of 12 p.m.
• Sensex was down 0.35% to 82,952.21.
• Broader indices were trading lower. Nifty Midcap 150 was down 1.32%; Nifty Smallcap 250 was trading 1.55% higher.
• All sectoral indices fell, led by Nifty Realty and Nifty IT.
• Nifty Bank fell 0.24%, Nifty IT was down 1.57%.
• HDFC Bank, ICICI Bank, HUL, Dr. Reddy's and SBI were top Nifty gainers.
• Bajaj Finance, RIL, Eternal, L&T and Sun Pharma were top Nifty losers.

Flight disruptions costed IndiGo over Rs 2000 crore, sources told NDTV Profit. This also includes fine imposed by DGCA.

Among the main costs is the Rs 10,000 compensation the company had to pay for compensations in addition to the refunds. This was as per the Civil Aviation Requirements. Among other expenses was hotel bookings, transport, meals, courier for returning baggages. IndiGo also announced flight vouchers worth Rs 10,000.

1. IndiGo cancelled over 4500 flights till December 12th
2. Over 3 lakh passengers were impacted due to flight disruptions 
3. Over 50% of passengers affected between 6th to 9th December will get CAR compensation, refunds & flight vouchers 
4. IndiGo transported over 50,000 baggages.

Coal India on Tuesday gets license for grant of mineral concession. The state government will execute the mining lease deed it added in an exchange filing. The company also got mineral concession for Kawalapur Block.

Gold and silver prices have increased across major Indian cities on Tuesday, Jan. 20, 2026. Today's surge is primarily driven by a "trust shock" in global markets.

Prices reached record highs after US President Donald Trump threatened 10% to 25% tariffs on several European allies, including Germany, France, and the UK, linked to a diplomatic dispute over the purchase of Greenland. Today, gold is trading at Rs 1,48,500 while silver is at Rs 3,16,990 according to Bullions' website.

Metropolitan Stock Exchange of India Ltd. on Tuesday announced that it will be open for trade on Feb. 1, Sunday on account of presentation of the Union Budget.

Shares of Mumbai-based real estate developer Oberoi Realty Ltd. on Tuesday plunged 5.80% with the stock trading at Rs 1574.10 apiece after the firm reported its Q3 earnings ending December. 

The scrip fell as much as 5.50% to Rs 1574.10 apiece on Tuesday. This compares to a 0.48% decline in the NSE Nifty 50 Index.

Total traded volume so far in the day stood at 0.38 times its 30-day average. The relative strength index was at 54.20

Out of 27 analysts tracking the company, 14 maintain a 'buy' rating, seven recommend a 'hold,' and six suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target of Rs 1930.33 implies a downside of 21.7%.

Over 2 million shares of HDFC Bank were traded via another block deal on Tuesday. The share of HDFC Bank rose as much as 0.84% to Rs 134.49 apiece.

Shares of LTIMindtree are under immense pressure in trade on Tuesday after the company reported its third-quarter earnings for the ongoing financial year. The stock is currently trading at Rs 6,010, which accounts for a correction of over 6%, compared to Monday's closing price of Rs. 6,407.

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Rupee was near record low on Tuesday as it weakens past 91 per dollar for the first time since Dec. 17, 2025

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The NSE Nifty 50 and BSE Sensex opened lower on Tuesday extending decline for the second day. The Nifty 50 opened 0.02% lower at 25,580.30 and Sensex opened 0.05% down at 83,207.38. However, minutes after open the Nifty was trading 0.,22% lower and Sensex was also trading over 100 points lower.

At pre-open, the NSE Nifty 50 was trading 5.20 points or 0.02% lower at 25,580.30. The BSE Sensex was down 45.68 points at 83,200.50.

Hindustan Zinc Ltd. delivered a strong third quarter performance, driven by higher silver prices, better volumes and tighter cost control, prompting most brokerages to raise earnings estimates and target prices. However, views diverge on how much of the commodity upside is already priced into the stock.

Read more: Hindustan Zinc Q3 Review: Silver Rally Lifts Earnings, Brokerages Split on Valuation Comfort

Shares of Angel One Ltd. and ICICI Prudential Asset Management Company Ltd. will be of interest on Tuesday, as the day marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.

The record date determines the eligible shareholders who will receive the dividend payment. The ex-dividend date, which mostly coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.

Read more: Angel One, ICICI Prudential AMC Dividends: Last Day To Buy Shares To Qualify — Details Here

Citi
Maintain Neutral; TP Rs 1,600.
Growth beat, but margins disappointed.
Lower-than-expected margins in Cables & Wires weighed on EBITDA and PAT.
ECD saw volume growth across categories, excluding fans.
C&W growth is accelerating due to capacity additions.
Margin improvement is critical for re-rating.

UBS
Maintain Buy; TP Rs 1,765.
Strong Q3 earnings led by Cables & Wires.
Consumer demand remains sluggish but recovery expected.
GST and income tax cuts, plus easing inflation to aid demand.
Margins are seen improving from cyclical lows.

Macquarie
Maintain Outperform; TP Rs 1,710.
Revenue surprise offset by margin miss.
Cables & Wires drove both growth and margin disappointment.
Commodity price stability remains key.

Macquarie
Maintain Outperform; TP Rs 6,930.
Revenue beat with broad-based growth.
Best-in-class QoQ constant currency growth at 2.4%.
All verticals grew except BFSI.
Sees over 9% YoY USD revenue growth in Q4 FY26E.

Morgan Stanley
Maintain Equal-weight; Hike TP to Rs 6,300 from Rs 5,700.
Top hi-tech client grew in Q3; top BFSI client saw bottoming out in Q4.
Portfolio transition progressing better than peers.
Near-term margins could be a drag.
Balanced risk-reward at current valuations.
New management has established execution credibility.

Citi
Maintain Sell; Cut TP to Rs 5,415 from Rs 5,480.
Headline EBIT slightly ahead; revenues aided by seasonal passthrough.
Exit guidance closer to double-digit growth.
Wage hike impact of ~100 bps each in Q4 and Q1.
Valuation at 31x FY27E is seen as rich versus large-cap peers.

Citi on PNB
Maintain Sell; Hike TP to Rs 115 from Rs 108.
NIM contracted 7 bps QoQ; FY26 NIM guidance trimmed.
Slippages contained below 0.7%; floating provisions created towards ECL.
Management confident of 1% FY26 RoA, aided by recoveries, modest credit cost and flat NIMs.

Kotak Securities on PNB
Maintain Add; Hike TP to Rs 140 from Rs 125.
Margins saw a blip, but overall profitability remains steady.
Earnings growth and RoE are healthy despite ~10 bps QoQ NIM decline.
Slippages low at 70 bps; credit cost elevated due to one-off.

Jefferies on PNB
Maintain Buy; Hike TP to Rs 150 from Rs 145.
Weak margins and ECL provisioning weighed on earnings.
Profit beat estimates on higher other income and lower taxes.
Slippages stable; core credit costs remain benign.
ECL transition impact estimated at 0.8% of loans over five years.

• Nifty Jan futures is down 0.69% to 25,574.0 at a discount of 11 points.

• Nifty Options 20th Jan Expiry: Maximum Call open interest at 25800 and Maximum Put open interest at 25500.

• Securities in ban period: SAIL, SAMMAANCAP

The US Dollar index is down 0.01% at 98.860.
Euro was down 0.02% at 1.1644.
Pound was up 0.05% at 1.3422.
Yen was down 0.03% at 158.04.

Global markets retreated while gold surged to a fresh record as trade tensions between the US and Europe intensified, sparked by President Donald Trump's renewed push to take control of Greenland.

Asian stocks slid around 0.5%, while S&P 500 futures dropped 1.1%. In Europe, equities posted their sharpest decline since November in the previous session.

US equity futures slid sharply, with S&P 500 futures down nearly 0.9% and Nasdaq 100 futures off 1.1%. In Europe, the Stoxx 600 was on track for its worst session in two months, led lower by losses in luxury and automobile stocks. Gold climbed to a record above $4,670 an ounce, while the dollar weakened about 0.3% as the Swiss franc outperformed. US cash markets were closed for a public holiday, reports Bloomberg.

Good morning readers.

The GIFT Nifty was trading near 25,600 early on Tuesday. The futures contract based on the benchmark Nifty 50 rose 0.16% at 25,608 as of 7:07 a.m. indicating a positive start for the Indian markets. This comes as Asian shares post small gains.

In the previous session on Monday, the benchmark ended in red. The NSE Nifty 50 ended 108.85 points or 0.42% lower at 25,585.50, while the BSE Sensex closed 324.17 points or 0.39% lower at 83,246.18.