Indian equity markets opened marginally lower on Friday, January 23, 2026, with benchmark indices trading under mild pressure as investors adopted a cautious stance and activity remained range-bound.
The BSE Sensex opened 16.07 points lower at 82,291.30, while the NSE Nifty declined 17.95 points to trade around 25,271.95 in early deals. Market breadth was mixed, with 1,230 stocks advancing, 901 declining and 172 remaining unchanged.
Investor participation reflected caution during the session, with limited risk appetite and no clear directional trend. While there was no sign of panic selling, participants remained watchful amid global cues and upcoming key data releases. Select buying interest was seen in midcap and smallcap stocks, indicating that overall market sentiment had not turned uniformly negative.
Within the Nifty index, Dr Reddy’s Laboratories, Kotak Mahindra Bank, Jio Financial Services, Tech Mahindra and HCL Technologies were among the gainers, providing some support to the information technology and pharmaceutical sectors.
On the downside, InterGlobe Aviation, Adani Enterprises, SBI Life Insurance, Apollo Hospitals and HDFC Life Insurance traded lower, with these stocks facing pressure due to profit-taking and mild selling.
Several stocks remained in focus in Friday’s session, including InterGlobe Aviation, Bandhan Bank, Premier Energies, Tanla Platforms, Syngene International, Suryoday Small Finance Bank, Gujarat State Petronet, Bluestone Jewellery & Lifestyle, Go Digit General Insurance, DLF, Le Travenues Technology and Home First Finance Company, amid expected corporate updates, sectoral movements and result-related activity.
Friday is a key day on the corporate earnings front, with several large and mid-sized companies scheduled to announce their October–December quarter results.
Companies set to report quarterly earnings include Shriram Finance, Cipla, JSW Steel, IndusInd Bank, Bharat Petroleum Corporation, Adani Green Energy, DCB Bank, Godrej Consumer Products, Granules India, India Cements, JSW Energy, Laurus Labs, Multi Commodity Exchange of India, Nuvama Wealth Management, Piramal Finance, Sona BLW Precision Forgings, Urban Company and Welspun Specialty Solutions. These results are expected to influence both sector-specific stocks and broader market movement.
Ahead of market opening, GIFT Nifty futures also signalled a cautious start. At 7:45 am, GIFT Nifty was trading 19 points lower at 25,340, indicating that the Nifty 50 could open flat to slightly lower. This was reflected in the subdued buying interest during the initial session.
Investors are also closely tracking global factors during the day’s trade. Gross domestic product growth data and key inflation readings from the United States are expected to play an important role in determining market direction. In addition, outcomes from the Bank of Japan’s monetary policy meeting remain in focus, with global developments likely to influence domestic market sentiment.
Asian markets recorded modest gains in early trade on Friday. Ahead of the Bank of Japan’s policy meeting, expectations were that interest rates would remain unchanged. The MSCI Asia-Pacific index excluding Japan was trading 0.4 percent higher, while Japan’s Nikkei 225 index gained 0.2 percent.
Wall Street provided mixed cues overnight. US equity markets extended gains for a second consecutive session on Thursday after US President Donald Trump stepped back from threats of imposing tariffs on European goods and adopted a softer stance on Greenland. As a result, the S&P 500 index rose 0.5 percent, while the Nasdaq gained 0.9 percent. However, S&P 500 futures remained range-bound.
According to Enrich Money Chief Executive Officer Ponmudi R K, technical indicators are showing gradual improvement. He said the daily MACD has turned positive and the expanding histogram indicates upward momentum.
Ponmudi R K stated that the Nifty index could trade in the 25,300–25,500 range in the near term, with intermittent volatility. He added that if the index sustains above 25,300 and holds the support of the 200-day moving average, it could gradually move towards the 25,600 level in the coming sessions.
Activity in the initial public offering segment is also expected to remain active. According to BSE data, allotment for the Shadowfax Technologies IPO is expected to be finalised on Friday. The issue was subscribed 2.72 times amid b investor interest.
In the SME segment, bidding opens today for Hanna Joseph Hospital and Shayona Engineering, while the KRM Ayurveda IPO closes on Friday. Shares of Aritas Vinyl are scheduled to list on the stock exchanges today.
