Indian equity markets opened on a subdued note on Wednesday, January 21, 2026, amid weak cues from Asian markets and heightened global tensions. Gift Nifty futures were trading 32 points higher at 25,287 at around 8:10 am, indicating a flat-to-muted opening for domestic benchmarks.
The 30-share BSE Sensex opened at 81,794 and witnessed volatility in early trade. At 9:20 am, the Sensex was trading at 82,273.46, up 92.99 points, or 0.11 percent. The NSE Nifty 50 opened lower at 25,141. At 9:23 am, the index was trading at 25,228.30, down 4.20 points, or 0.02 percent.
According to Ponmudi R K, CEO of Enrich Money, the daily chart of the Nifty continues to indicate a sell-on-rise setup. The index is trading below its 20-day, 50-day, and 100-day moving averages. Immediate resistance for the Nifty is placed in the 25,500–25,600 range. The index is currently trading marginally above its 200-day exponential moving average near 25,163, which has acted as an important support level in recent sessions.
On the downside, the 25,000 level is considered a key psychological support for the Nifty. Below this, the next major long-term support is seen around 24,700, derived from the trendline connecting the June 2022 and March 2023 lows. A sustained move below 25,000 could extend the decline towards 24,700, according to Enrich Money.
Asian markets were trading lower on Wednesday amid rising tensions between the United States and European countries over Greenland. Japan’s Nikkei index was down 0.35 percent. In the bond market, a mild recovery was seen on Wednesday following sharp selling in the previous session.
The US President has imposed a 10 percent tariff on eight European countries, effective from February 1, with the tariff set to increase to 25 percent in June. The move targets countries opposing the US plan related to Greenland.
On Wall Street, the previous session marked the worst day since April last year. The S&P 500 and the Nasdaq both ended more than 2 percent lower. Market volatility rose to its highest level since November. Global attention this week is on the World Economic Forum in Davos, where global leaders are voicing criticism against the United States.
Initial public offerings remain in focus in the Indian market. The IPO of Shadowfax Technologies is in its second day of subscription on Wednesday. Shares of Amagi Media are also scheduled to list on the stock exchanges.
In the SME segment, Narmadesh Brass Industries, GRE Renew Enertech, and Indo SMC are scheduled to list on Wednesday. Meanwhile, the public issues of Digilogic Systems and KRM Ayurveda remain open for subscription.
