SENSEX SLIDES 333 PTS; IT SHARES LAG

The key equity benchmarks continued to trade with modest losses in mid-morning trade, pressured by persistent global trade uncertainties and continued foreign fund outflows, even as investor focus remained on the ongoing quarterly earnings season. The Nifty traded below the 25,500 level. IT stocks witnessed selling pressure for the second straight trading session.

At 11:30 ST, the barometer index, the S&P BSE Sensex, dropped 333.19 points or 0.40% to 82,912.99. The Nifty 50 index lost 122.45 points or 0.48% to 25,462.55.

In the broader market, the S&P BSE Mid-Cap index declined 1.17% and the S&P BSE Small-Cap index fell 1.24%.

The market breadth was weak. On the BSE, 1,028 shares rose and 2,859 shares fell. A total of 197 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Shadowfax Technologies received bids for 1,06,41,960 shares as against 8,90,88,807 shares on offer, according to stock exchange data at 11:30 IST on Tuesday (20 January 2026). The issue was subscribed 0.12 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 IT index declined 1.41% to 38,354. The index dropped 1.87% in the two consecutive trading sessions.

LTIMindtree (down 6.71%), Tech Mahindra (down 1.86%), Wipro (down 1.65%), HCL Technologies (down 1.35%), Coforge (down 1.3%), Oracle Financial Services Software (down 1.06%), Mphasis (down 0.91%), Tata Consultancy Services (down 0.9%), Persistent Systems (down 0.69%) and Infosys (down 0.58%) declined.

Stocks in Spotlight:

Atishay hit a lower circuit of 10% after its standalone net profit slipped 10.90% to Rs 1.88 crore in Q3 FY26 as against Rs 2.11 crore in Q3 FY25. Revenue from operations rose 1.51% to Rs 15.45 crore in Q3 FY26 as against Rs 15.22 crore in Q3 FY25.

Oberoi Realty dropped 6.89% after the company�s consolidated net profit fell 18.10% to Rs 622.64 crore, despite a 5.77% rise in net sales to Rs 1,492.64 crore in Q3 FY26 over Q2 FY26.

Global Markets:

Asian stocks traded lower on Tuesday as a resurgence of trade-war concerns hit risk sentiment and sparked selling in U.S. assets.

U.S. President Donald Trump`s push to take control of Greenland by threatening additional tariffs�a move that risks fueling trade tensions with Europe�has led to uncertainty in the markets, with investors scurrying for safe-haven assets, including the Swiss franc and gold.

The tensions have revived talk of the `Sell America` trade that emerged in the aftermath of his sweeping "Liberation Day" levies last April, where investors sell U.S. stocks, dollars, and Treasuries. That trade appeared to be gathering momentum in Asian hours on Tuesday.

Trump`s threats triggered a sharp pushback in Europe, and his remarks have raised questions on the outlook of trade deals struck since then with Europe.

All eyes will now be on Davos, where Trump is expected to meet global business leaders on Wednesday, as the U.S. president`s presence looms large over the annual gathering of the global elite in Switzerland.

Meanwhile, Japan`s Nikkei saw some selling as investors looked ahead to next month`s election. Prime Minister Sanae Takaichi is seeking voter backing for increased spending, tax cuts, and a new security strategy that is expected to accelerate a defence buildup.

U.S. cash equity markets were closed on Monday for Martin Luther King Jr. Day.

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