Markets Opened Weak After Holiday, Then Turned Choppy
Indian markets reopened after the Republic Day break with a cautious tone. GIFT Nifty had pointed to a positive start, and for a brief window, buyers tried to push the indices higher. That optimism faded quickly. By mid-session, the Sensex had dropped over 400 points and the Nifty slipped below the 25,000 mark again, with headlines flipping every few minutes and traders glued to their screens. Global cues were uneasy, and domestic stock-specific triggers kept adding noise to the tape.
Auto Stocks Took a Hit on Tariff Cut Reports
Auto stocks were among the worst performers during the session. A Reuters report suggested India could sharply cut import tariffs on European cars as part of a trade deal.
That spooked domestic auto makers. Mahindra & Mahindra dropped over 5% at one point, dragging the auto index down around 2%. The market read this as a potential competitive threat if foreign car imports become cheaper.
Adani, Cement, and Metals Offered Some Relief
Not everything was red. A few pockets of buying stood out.
Adani Green Energy jumped around 6% as investors seemed to buy the dip. UltraTech Cement climbed about 4% after reporting a strong quarterly profit growth of roughly 32% year-on-year.
Hindustan Zinc also gained close to 4%, helped by a sharp surge in silver prices this year. Metals was one of the better-looking spaces on an otherwise jittery screen.
Big Corporate Results Kept Stocks in Focus
The earnings calendar was busy, and traders were watching every announcement closely.
Asian Paints and Tata Consumer were among key names lined up to report numbers, while Axis Bank and MCX drew attention on profit updates. MCX surged after reporting a massive jump in quarterly profit, and Wipro was in focus after turning ex-dividend for its interim payout.
Marico also grabbed headlines after buying PVR Inox’s popcorn brand, which caught the market’s eye for its consumer expansion angle.
Rupee, Gold, and Silver Added to the Noise
The rupee tried to recover slightly from record lows, but currency weakness remained a broader concern for foreign investors.
Gold and silver futures jumped sharply in India, with silver touching record highs. That usually signals some nervousness in the system—money hedging rather than chasing equities.
Foreign Outflows and January Blues Still Loom
One thing that kept coming up in trading rooms was January’s performance. The Sensex and Nifty have dropped more than 4% this month, pressured by foreign selling, muted earnings, geopolitical risks, and currency worries.
This session felt like a continuation of that uneasy narrative rather than a fresh trend.
So What’s the Market Telling Us?
Today wasn’t a crash. It wasn’t a rally either. It felt like a market searching for direction, reacting to headlines in real time.
Global trade tension, auto tariff fears, and mixed earnings signals kept volatility high. Stock-specific stories dominated, while broader sentiment stayed cautious.
Traders are clearly waiting for clarity—from the Fed, from global trade talks, and from corporate earnings.
Until then, expect more sessions like this: fast moves, sector rotations, and no clear trend.
