Indices trade with major losses; realty shares tumble; VIX jumps 4.67%

The key equity benchmarks traded with significant losses in the afternoon trade as investors weighed persistent global trade uncertainties and continued foreign fund outflows, even as attention remained fixed on the unfolding quarterly earnings season.

The Nifty traded below the 25,450 mark. All the sectoral indices in the NSE traded in the red with realty, IT and auto shares losing the most.

At 13:28 IST, the barometer index, the S&P BSE Sensex declined 481.02 points or 0.58% to 82,766.84. The Nifty 50 index fell 170.05 points or 0.67% to 25,415.95.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.85% and the S&P BSE Small-Cap index fell 1.96%.

The market breadth was weak. On the BSE, 853 shares rose and 3,257 shares fell. A total of 165 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 4.67% to 12.38.

IPO Update:

The initial public offer (IPO) of Shadowfax Technologies received bids for 2,04,17,040shares as against 8,90,88,807 shares on offer, according to stock exchange data at 13:20 IST on Tuesday (20 January 2026). The issue was subscribed 0.23 times.

The issue opened for bidding on Tuesday (20 January 2026) and it will close on Thursday (22 January 2026). The price band of the IPO is fixed between Rs 118 and 124 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.

Gainers & Losers:

Tata Consumer Products (up 1.79%), Dr Reddy's Laboratories (up 1.70%), HDFC Bank (up 0.58%), Hindustan Unilever (up 0.31%) and ICICI Bank (up 0.30%) were the major Nifty50 gainers.

Eternal (down 3.61%), Coal India (down 2.73%), Interglobe Aviation (down 2.59%), Bajaj Finance (down 2.48%) and Trent (down 2.42%) were the major Nifty50 losers.

Stocks in Spotlight:

LTIMindtree dropped 6.37% after the company reported a 30.73% decline in consolidated net profit to Rs 970.6 crore despite a 3.72% jump in revenue from operations to Rs 10,781 crore in Q3 December 2025 over Q2 September 2025.

Ceat declined 3.37%. The companys consolidated net profit jumped 60.40% to Rs 155.77 crore in Q3 FY26 as against Rs 97.11 crore posted in Q3 FY25. Revenue from operations rose 25.97% to Rs 4,157.05 crore in Q3 FY26 over Q3 FY25.

Atishay hit a lower circuit of 10% after its standalone net profit slipped 10.90% to Rs 1.88 crore in Q3 FY26 as against Rs 2.11 crore in Q3 FY25. Revenue from operations rose 1.51% to Rs 15.45 crore in Q3 FY26 as against Rs 15.22 crore in Q3 FY25.

Oberoi Realty dropped 7.90% after the companys consolidated net profit fell 18.10% to Rs 622.64 crore, despite a 5.77% rise in net sales to Rs 1,492.64 crore in Q3 FY26 over Q2 FY26.

Global Markets:

European markets opened lower on Tuesday as the specter of fresh trade tariffs lingers, hurting market sentiment.

Asian stocks traded lower as a resurgence of trade-war concerns hit risk sentiment and sparked selling in U.S. assets.

U.S. President Donald Trump's push to take control of Greenland by threatening additional tariffsa move that risks fueling trade tensions with Europehas led to uncertainty in the markets, with investors scurrying for safe-haven assets, including the Swiss franc and gold.

The tensions have revived talk of the 'Sell America' trade that emerged in the aftermath of his sweeping "Liberation Day" levies last April, where investors sell U.S. stocks, dollars, and Treasuries. That trade appeared to be gathering momentum in Asian hours on Tuesday.

Trump's threats triggered a sharp pushback in Europe, and his remarks have raised questions on the outlook of trade deals struck since then with Europe.

All eyes will now be on Davos, where Trump is expected to meet global business leaders on Wednesday, as the U.S. president's presence looms large over the annual gathering of the global elite in Switzerland.

Meanwhile, Japan's Nikkei saw some selling as investors looked ahead to next month's election. Prime Minister Sanae Takaichi is seeking voter backing for increased spending, tax cuts, and a new security strategy that is expected to accelerate a defence buildup.

U.S. cash equity markets were closed on Monday for Martin Luther King Jr. Day.

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