22 January 2026: Midday Market Update: Nifty Trades Above 25,260 as Pharma, Metals and PSU Stocks Gain; Financials Mixed

Indian equity markets traded firmly in the late morning session on Thursday, 22 January 2026, with benchmark indices extending gains on the back of buying interest in pharma, metals, defence and infrastructure stocks. While frontline financial stocks showed mixed movement, strength in broader market counters helped maintain positive momentum.

Also Read: January 21, 2026: Market Wrap: Nifty Ends Lower at 25,157 as Banking Stocks Drag; Eternal and Metals Limit Losses

Nifty 50 Holds Above 25,260; Positive Breadth Continues

As of 10:51 IST, the Nifty 50 stood at 25,268.35, up 110.85 points (+0.44%).

• Open: 25,344.15

• Day’s High: 25,435.75

• Day’s Low: 25,245.25

The index remained resilient despite minor intraday volatility, with buying emerging on dips near the 25,240–25,250 zone.

Broader Indices Trade in Green

Market sentiment was supported by gains across broader indices:

• Nifty Next 50: 67,483.75 (+0.93%)

• Nifty Financial Services: 27,065.35 (+0.38%)

• Nifty Bank: 59,015.60 (+0.37%)

The performance reflects selective accumulation across sectors, even as investors remain cautious on heavyweight financial stocks.

Top Gainers: Dr Reddy’s, Adani Ports Lead the Rally

Strong buying was witnessed in pharma, infrastructure and metal counters:

• Dr Reddy’s Laboratories (DRREDDY): ₹1,217.60, +5.22%

• Adani Ports: ₹1,414.80, +2.63%

• BEL: ₹412.55, +2.46%

• Coal India: ₹424.10, +2.43%

• Tata Steel: ₹188.88, +2.42%

The rally in Dr Reddy’s provided strong support to the pharma pack, while gains in Coal India, Tata Steel and BEL reflected strength in commodities and defence-linked counters.

Top Losers: Insurance and Banking Stocks Under Mild Pressure

Some profit booking was seen in select large-cap names:

• SBI Life: ₹2,016.20, -1.91%

• Max Healthcare: ₹997.70, -0.65%

• ICICI Bank: ₹1,343.90, -0.38%

• Reliance Industries: ₹1,401.10, -0.25%

• HDFC Bank: ₹918.10, -0.24%

Weakness in heavyweight stocks such as ICICI Bank, HDFC Bank and Reliance capped sharper upside for the benchmark indices.

Market View: Stock-Specific Action Driving Momentum

The current session reflects a market driven more by sectoral and stock-specific triggers rather than broad-based rallies. Strength in pharma, metals and PSU stocks indicates defensive and value buying, while cautious sentiment persists in financial heavyweights.

Technically, traders are watching:

• Support: 25,200–25,250

• Resistance: 25,430–25,500

A sustained move above resistance could open room for further upside in the near term.

Conclusion: 22 January 2026

Indian markets continue to show resilience in the late morning session, supported by strong participation in select sectors. While financial heavyweights remain a drag, broader market strength suggests underlying sentiment remains constructive. Investors are likely to remain selective, tracking global cues, institutional flows and upcoming earnings commentary.