Nifty below 25,250 mark; oil & gas shares snap 2-day gains

The key equity benchmarks traded with modest losses in early afternoon trade amid profit booking and FII selling weighed on sentiment with the Nifty trading below 25,250 level. Investors adopted a risk-off stance, while market participants remained focused on the ongoing Q3 earnings season and movements in crude oil prices.

Oil & gas shares declined after posting gains over the previous two trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 298.17 points or 0.36% to 82,008.90. The Nifty 50 index fell 88.10 points or 0.35% to 25,201.80.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.61% and the S&P BSE Small-Cap index dropped 1.17%.

The market breadth was strong. On the BSE, 1,530 shares rose and 2,395 shares fell. A total of 202 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, increased 2.95% to 13.75. The Nifty 27 January 2026 futures were trading at 25,248.20, at a premium of 46.4 points as compared with the spot at 25,201.80.

The Nifty option chain for the 27 January 2026 expiry showed a maximum call OI of 205.9 lakh contracts at the 25,500 strike price. Maximum put OI of 150.2 lakh contracts was seen at 25,200 strike price.

Buzzing Index:

The Nifty Oil & Gas index fell 0.72% to 11,361.05. The index rose 0.63% in the past two consecutive trading session.

Mahanagar Gas (down 3.03%), Adani Total Gas (down 2.26%), Indraprastha Gas (down 1.6%), Gujarat State Petronet (down 1.54%), Aegis Logistics (down 1.4%), Hindustan Petroleum Corporation (down 1.38%), GAIL (India) (down 0.99%), Reliance Industries (down 0.84%), Indian Oil Corporation (down 0.7%) and Gujarat Gas (down0.41%) declined.

Stocks in Spotlight:

Gujarat State Petronet (GSPL) fell 1.60% after its standalone net profit fell 15.70% to Rs 114.26 crore in Q3 FY26, even as revenue from operations rose 4.5% to Rs 272.19 crore compared with the same quarter last year.

Computer Age Management Services declined 2.45%. The company has reported 0.04% rise in consolidated net profit to Rs 125.53 crore on a 5.52% increase in revenue from operations from operations to Rs 390.13 crore in Q3 FY26 as compared with Q3 FY25.

Home First Finance Company India rallied 4.04% after the companys standalone net profit jumped 43.97% to Rs 140.20 crore on 18.8% increase in revenue from operations to Rs 482.24 crore in Q3 FY26 over Q3 FY25.

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