The key equity benchmarks traded with major losses in early afternoon trade amid the expiry of F&O contracts on the NSE. The Nifty slipped below the 25,450 mark after hitting an intraday high of 25,585 in early trade. Investors are closely tracking the ongoing Q3 earnings season and developments from the World Economic Forum (WEF) annual meeting in Davos.
Consumer durables shares tumbled for eight consecutive trading sessions.
At 12:25 IST, the barometer index, the S&P BSE Sensex declined 427.23 points or 0.51% to 82,818.95. The Nifty 50 index fell 157.15 points or 0.62% to 25,430.45.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.66% and the S&P BSE Small-Cap index fell 1.77%.
The market breadth was weak. On the BSE, 944 shares rose and 3,063 shares fell. A total of 187 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.95% to 12.30. The Nifty 27 January 2026 futures were trading at 25,461.40, at a premium of 30.95 points as compared with the spot at 25,430.45.
The Nifty option chain for the 27 January 2026 expiry showed a maximum call OI of 130 lakh contracts at the 26,000 strike price. Maximum put OI of 58.8 lakh contracts was seen at 25,000 strike price.
Buzzing Index:
The Nifty Consumer Durables index declined 1.80% to 35,688.25. The index fell 6.91% in the previous eight consecutive trading sessions.
Havells India (down 5.26%), PG Electroplast (down 3.21%), Voltas (down 1.74%), Crompton Greaves Consumer Electricals (down 1.48%), Dixon Technologies (India) (down 1.43%), Cera Sanitaryware (down 1.22%), Blue Star (down 0.94%), Kajaria Ceramics (down 0.79%), Titan Company (down 0.74%) and Century Plyboards (India) (down 0.72%) declined.
Stocks in Spotlight:
Aarti Surfactants was locked in 20% upper circuit after the company’s consolidated net profit surged to Rs 3.66 crore in Q3 FY26 from Rs 0.80 crore in Q3 FY25. Net sales increased by 27.7% YoY to Rs 207.79 crore during the quarter.
Deepak Nitrite gained 3.84% after the company said its wholly owned subsidiary, Deepak Chem Tech, commissioned a nitration and second hydrogenation plant on 19 January 2026. The facility is located at Dahej in Bharuch district, Gujarat. Total capital expenditure incurred so far is around Rs 85 crore.