January 5, 2026: Indian Markets Trade Range-Bound Midday as IT and Banking Weigh, Select Consumption Stocks Shine

Indian equity markets continued to trade in a narrow range during the afternoon session on Monday, January 5, 2026, as investors remained cautious amid sectoral divergence. While frontline indices held marginal gains, persistent selling pressure in IT and select banking stocks capped upside, even as consumption, auto, and defence-related stocks provided support.

Also Read: Indian Markets Open 2026 on a Strong Note as IT Drags, Select Stocks Show Strength

Benchmark Indices: Flat to Mildly Positive

The Nifty 50 hovered higher at 26,342.10, up 13.55 points (0.05%), reflecting a lack of strong directional cues. The index opened at 26,333.70, touched an intraday high of 26,373.20, and tested a low of 26,263.60, highlighting continued consolidation.

Other key indices showed modest strength:

• Nifty Next 50 rose 0.18% to 70,544.90

• Nifty Financial Services added 0.10% to 27,927.90

• Nifty Bank edged up 0.12% to 60,221.90

Despite gains in broader indices, heavyweight stocks limited overall momentum.

Top Gainers: Defence, Auto and FMCG in Focus

Selective buying was visible in stocks linked to defence manufacturing, automobiles, and consumption:

• Bharat Electronics (BEL) advanced 3.31% to ₹416.50, backed by strong volumes, reinforcing bullish sentiment around defence-sector prospects.

• Nestlé India gained 2.65% to ₹1,313.60, supported by steady demand outlook in the FMCG space.

• Eicher Motors climbed 1.95% to ₹7,477.50, reflecting optimism in the premium motorcycle segment.

• Maruti Suzuki rose 1.86% to ₹17,276.00, extending gains on expectations of stable auto sales.

• Asian Paints added 1.70% to ₹2,819.80, indicating continued investor confidence in consumption-driven stocks.

These gains underscored a clear preference for defensive and domestic-demand-oriented plays.

Top Losers: IT and Banking Stocks Drag

Technology and banking stocks remained under pressure, acting as a drag on the benchmarks:

• Infosys slipped 1.92% to ₹1,608.90

• HCL Technologies declined 1.82% to ₹1,610.40

• Wipro fell 1.71% to ₹264.40

• HDFC Bank dropped 1.85% to ₹983.10

• ONGC eased 1.53% to ₹237.76

The weakness in IT stocks pointed to continued concerns over global tech spending, while the decline in banking heavyweight HDFC Bank weighed on the Nifty Bank index.

Market Sentiment: Cautious, Stock-Specific Action

Overall market sentiment remained cautious, with investors adopting a stock-specific approach. While money flowed into FMCG, auto, and defence stocks, selling pressure persisted in IT and select financials. Volumes were healthy in select counters, but broader participation remained limited.

Conclusion: January 5, 2026

Indian markets traded range-bound in the midday session, supported by gains in consumption, auto, and defence stocks, but restrained by losses in IT and banking heavyweights. In the near term, markets are likely to remain volatile and selective, with investors closely tracking global cues, sector-specific developments, and the upcoming corporate earnings season.