Barometers snap 3-day losses; Nifty ends above 25,250; VIX slides 3.12%

The key equity benchmarks ended with modest gains today, breaking a three-day losing streak as selective profit booking and continued FII selling kept investors cautious ahead of key Q3 earnings announcements and cues from the World Economic Forum in Davos. The Nifty traded above the 25,250 mark. Media, PSU bank and pharma stocks advanced, while consumer durables and realty stocks declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 397.74 points or 0.49% to 82,307.37. The Nifty 50 index rose 132.40 points or 0.53% to 25,289.90.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.28%, while the S&P BSE Small-Cap index added 1.13%.

 

The market breadth was strong. On the BSE, 2,957 shares rose and 1,274 shares fell. A total of 154 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.12% to 13.35.

World Economic Forum:

Maharashtra Chief Minister Devendra Fadnavis said Tata Sons has committed $11 billion to develop the proposed innovation city. While the location has been identified and broad contours finalized, the state expects the planning phase to take another six to eight months before execution begins.

The project aims to create a plug-and-play ecosystem tailored for startups and innovation-led companies, lowering entry barriers for entrepreneurs as well as global firms.

Britain will not sign US President Donald Trumps proposed Board of Peace treaty on Thursday, Foreign Secretary Yvette Cooper said, citing concerns over Russias potential involvement in the initiative aimed at resolving global conflicts. She said the UK would not be among the signatories, as the legal treaty raises broader issues and because of concerns over President Vladimir Putins role in a peace initiative.

IPO Update:

The initial public offer (IPO) of Shadowfax Technologies received bids for 23,95,32,360 shares as against 8,90,88,807 shares on offer, according to stock exchange data at 15:40 IST on Thursday (22 January 2026). The issue was subscribed 2.69 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.

Buzzing Index:

The Nifty Media index advanced 2.39% to 1,386.35. The index rose 2.06% after declining over the previous four trading sessions.

Prime Focus (up 5.47%), Zee Entertainment Enterprises (up 4.29%), Nazara Technologies (up 3.19%), Hathway Cable & Datacom (up 2.73%), Network 18 Media & Investments (up 2.58%), Saregama India (up 2.04%), Sun TV Network (up 1.38%), PVR Inox (up 0.86%), Tips Music (up 0.7%) jumped.

Stocks in Spotlight:

Bajaj Consumer Care was locked in a 20% upper circuit after the companys net profit rose 83.2% YoY to Rs 46.4 crore in Q3 FY26 from Rs 25.3 crore in Q3 FY25. Revenue from operations increased 32.7% YoY to Rs 306.1 crore in Q3 FY26 from Rs 230.7 crore in Q3 FY25.

Eternal fell 2.61%. The company reported a 72.88% rise in consolidated net profit to Rs 102 crore on a 201.85% surge in revenue from operations to Rs 16,315 crore in Q3 FY26 over Q3 FY25.

Dr Reddys Laboratories rose 5.34%. The company reported a 14.4% decline in consolidated net profit to Rs 1209.8 crore despite a 4.4% jump in revenue to Rs 8,716.8 crore in Q3 FY26 over Q3 FY25.

Jindal Stainless added 0.65%. The companys consolidated net profit jumped 26.56% to Rs 828.79 crore on a 6.16% increase in revenue from operations to Rs 10,517.55 crore in Q3 FY26 over Q3 FY25.

Hindustan Petroleum Corporation (HPCL) shed 0.29%. The companys standalone net profit jumped 34.72% to Rs 4,072.49 crore in Q3 FY26 as against Rs 3,022.90 crore in Q3 FY25. Total income (excluding excise duty) rose 5.23% YoY to Rs 1,15,740.02 crore during the December 2025 quarter.

Anant Raj added 2.66% after the company reported a 30.75% year-on-year (YoY) increase in consolidated net profit to Rs 144.25 crore in Q3 FY26, compared with Rs 110.32 crore recorded in the same quarter last year.

Radico Khaitan jumped 5.69% after the company reported 61.6% increase in net profit to Rs 155.1 crore on a 19.5% rise in net revenue from operations to Rs 1,546.7 crore in Q3 FY26 as compared with Q3 FY25.

Steel Strips Wheels (SSWL) rose 0.16%. The company reported a 2.30% year-on-year (YoY) decline in consolidated net profit to Rs 46.61 crore in Q3 FY26, compared with Rs 47.71 crore posted in Q3 FY25. However, revenue from operations jumped 22.90% YoY to Rs 1,320.81 crore for the quarter ended 31 December 2025.

Bank of India rallied 5.62% after the banks standalone net profit jumped 7.47% to Rs 2,705 crore in Q3 FY26 as against Rs 2,517 crore in Q3 FY25. Total income stood at Rs 21,205.95 crore in Q3 FY26, up 6.25% as against Rs 19,956.9 crore in Q3 FY25.

Gravita India declined 2.42%. The companys consolidated net profit jumped 25.33% to Rs 97.67 crore on 2.07% increase in revenue from operations to Rs 1,017.07 crore in Q3 FY26 over Q3 FY25.

Zee Entertainment added 3.86% after the companys net profit surged 102.99% to Rs 155.29 crore in Q3 FY26 as against Rs 76.5 crore in Q2 FY26. Total income rallied 15.17% to Rs 2,298.5 crore in Q3 FY26 over Q2 FY26.

Waaree Energies surged 9.29% after the company reported a 115.64% year-on-year (YoY) jump in consolidated net profit to Rs 1,062.46 crore in Q3 FY26, compared with Rs 492.69 crore recorded in the same quarter last year.

Indian Bank rallied 5.66% after the banks standalone net profit jumped 7.33% to Rs 3,061.48 crore on 9.78% increase in total income to Rs 19,663.34 crore in Q3 FY26 over Q3 FY25.

Global Markets:

European markets advanced on Thursday after U.S. President Donald Trump said a framework agreement had been reached over Greenland, and called off imposing escalating tariffs on a group of European countries.

Asian markets ended higher, tracking overnight gains on Wall Street after U.S. President Donald Trump dialed back his threat to impose tariffs on European countries over Greenland.

Trump also said at the World Economic Forum in Davos that he would not use force to acquire the Arctic island, calming nerves over a possible U.S. military action, adding that he had formed the framework of a future deal with respect to Greenland, along with NATO Secretary General Mark Rutte.

Meanwhile, South Koreas economy unexpectedly shrank 0.3% on a quarterly basis in the October to December period, its sharpest contraction since 2022. Gross domestic product grew 1.5% year on year, while full-year economic growth slowed to 1%, the weakest since 2020, when output contracted 0.7% during the pandemic.

U.S. equities leaped on Wednesday after President Donald Trump called off new Europe tariffs, saying a deal framework has been reached over Greenland.

The Dow Jones Industrial Average surged 588.64 points, or 1.21%, to end at 49,007.23. The S&P 500 gained 1.16% and closed at 6,875.62, while the Nasdaq Composite advanced 1.18% to settle at 23,224.82.

Back in Washington, Supreme Court justices expressed skepticism about whether Trump has the authority to fire Lisa Cook as a Federal Reserve governor.

During oral arguments Wednesday, Justice Brett Kavanaugh told a Trump administration lawyer that arguments the president can fire Cook without judicial review would weaken, if not shatter, the independence of the Federal Reserve."

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