22 January 2026: Midday Market Update: Nifty Trades Flat Near 25,205 as Pharma and PSU Stocks Support; Titan Drags

Indian equity benchmarks traded with mild gains in the early afternoon session on Thursday, 22 January 2026, as strength in pharma, defence and select metal stocks offset weakness in consumer and insurance counters. The broader market continued to outperform, indicating selective buying despite the absence of strong directional momentum.

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

Nifty 50 Holds Above 25,200 Amid Volatility

As of 13:24 IST, the Nifty 50 stood at 25,205.20, up 47.70 points (+0.19%).

• Open: 25,344.15

• Day’s High: 25,435.75

• Day’s Low: 25,171.25

The index witnessed intraday swings but managed to hold above the key psychological support of 25,200, reflecting cautious stability in market sentiment.

Broader Indices Remain Firm

Broader indices continued to show relative strength compared to the frontline benchmark:

• Nifty Next 50: 67,420.90 (+0.83%)

• Nifty Financial Services: 27,049.90 (+0.32%)

• Nifty Bank: 58,986.95 (+0.32%)

This suggests ongoing stock-specific accumulation beyond the heavyweight names.

Top Gainers: Dr Reddy’s Leads, BEL and Adani Ent Rally

Buying momentum was visible in select sectors such as pharma, defence and metals:

• Dr Reddy’s Laboratories (DRREDDY): ₹1,222.10, +5.61%

• BEL: ₹414.55, +2.96%

• Adani Enterprises (ADANIENT): ₹2,080.20, +2.36%

• Tata Steel: ₹187.95, +1.92%

Strong performance in Dr Reddy’s continued to lift the pharma pack, while BEL sustained momentum on defence-related optimism. Gains in Adani Enterprises and Tata Steel further supported market breadth.

Top Losers: Titan, SBI Life and Eternal Under Pressure

Selling pressure emerged in select consumer and insurance stocks:

• Titan: ₹3,987.50, -2.25%

• SBI Life: ₹2,027.10, -1.38%

• Eternal: ₹279.60, -1.38%

• Max Healthcare: ₹995.80, -0.84%

• Jio Financial Services (JIOFIN): ₹261.10, -0.82%

The decline in heavyweight Titan weighed on the consumption space, while weakness in financial services and healthcare limited stronger index gains.

Market View: Consolidation with Sector Rotation

Market participants appear to be adopting a buy-on-dips approach in select sectors, while booking profits in overperforming names. The session reflects a phase of healthy consolidation after recent moves, characterized by:

• Strength in pharma and defence

• Selective buying in metals

• Profit booking in consumption and financial stocks

Technically, the market continues to respect the 25,150–25,200 support zone, while facing resistance near 25,430–25,500.

Conclusion: 22 January 2026

Indian markets traded cautiously positive in the early afternoon, with broader market strength cushioning weakness in select heavyweights. The ongoing sector rotation suggests investors are positioning selectively rather than exiting risk altogether. Direction in the second half of the session is likely to be guided by institutional flows and global cues.