January 8, 2026: Markets Extend Sharp Losses in Afternoon Trade as Nifty 50 Slips Below 26,000; Broad-Based Selling Weighs on Sentiment

Indian equity markets remained under pressure in afternoon trade on January 8, 2026, with benchmark indices extending losses amid broad-based selling across sectors. Weakness in metal, energy, IT, and financial stocks dragged the markets lower, reflecting cautious investor sentiment and profit booking at higher levels.

As of 12:47 PM IST, all major indices were trading firmly in the red, indicating a risk-off mood in the market.

Also read: January 8, 2026 (morning): Indian Equity Markets Trade Mixed as Nifty 50 Slips Below 26,050; Banking Stocks Provide Limited Support

Benchmark Indices Performance

The Nifty 50 declined 217.85 points or 0.83% to trade at 25,922.90, slipping below the psychologically important 26,000 mark. The index opened at 26,106.50, touched an intraday high of 26,133.20, but witnessed sustained selling pressure, falling to a low of 25,884.15.

Other key indices mirrored the weak trend:

• Nifty Next 50 plunged 1,187.45 points (-1.68%) to 69,503.15, underperforming the frontline index.

• Nifty Financial Services dropped 189.20 points (-0.68%) to 27,664.15.

• Nifty Bank slipped 309.75 points (-0.52%) to 59,681.10, as select banking stocks failed to offset broader weakness.

Top Gainers: Select Banking and Defensive Stocks Offer Support

Despite overall market weakness, a few stocks managed to post gains, largely from the banking, insurance, and select defensive segments.

• Bharat Electronics Ltd (BEL) rose 0.73% to ₹418.70, supported by heavy trading volumes of 129.38 lakh shares.

• Eternal advanced 0.52% to ₹282.40, emerging as one of the most actively traded stocks by value.

• SBI Life Insurance gained 0.52% to ₹2,081.50, offering limited support to the financial space.

• ICICI Bank added 0.48% to ₹1,434.50, resisting broader selling pressure in banking stocks.

• HCL Technologies edged up 0.35% to ₹1,653.40, outperforming the otherwise weak IT sector.

Top Losers: Metals, Energy and IT Stocks Drag Markets

Selling pressure was pronounced in metal, energy, and select IT stocks, which featured prominently among the top losers.

• Hindalco Industries slumped 3.48% to ₹905.80, leading losses amid weakness in metal counters.

• Jio Financial Services declined 2.72% to ₹295.25, reflecting subdued sentiment in financial stocks.

• ONGC fell 2.69% to ₹232.64, tracking weakness in energy stocks.

• Wipro dropped 2.44% to ₹264.20, extending losses in the IT pack.

• JSW Steel slipped 2.25% to ₹1,163.00, adding to pressure on metal stocks.

Market Outlook

Market participants remained cautious as broad-based selling overshadowed selective buying interest. Analysts expect near-term volatility to persist, with global cues, sectoral rotation, and earnings-related triggers likely to guide market direction. Stockspecific action is expected to dominate amid ongoing uncertainty.

Conclusion: January 8, 2026

Indian equity markets traded decisively lower in afternoon trade, with the Nifty 50 slipping below the 26,000 mark amid sustained selling pressure across sectors. While select banking and defensive stocks provided limited support, weakness in metals, energy, and IT stocks continued to weigh on overall market sentiment.