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

Indian equity benchmarks traded on a mixed note in mid-morning trade on January 8, 2026, with the Nifty 50 extending mild losses amid selling pressure in IT and metal stocks. While select banking stocks offered some stability, broader market sentiment remained cautious as investors booked profits at higher levels.

As of 10:20 AM IST, frontline indices reflected subdued momentum, with losses outweighing gains across key sectors.

Also read: Indian Stock Market Closing Update | January 7, 2026: Nifty Ends Lower as Financials Drag; IT Stocks Offer Support

Benchmark Indices Performance

The Nifty 50 was trading at 26,040.80, down 99.95 points or 0.38%. The index opened higher at 26,106.50 but failed to sustain momentum, touching an intraday high of 26,133.20 before slipping to a low of 26,036.65.

Other major indices showed mixed trends:

• Nifty Next 50 declined sharply by 534.20 points (-0.76%) to 70,156.40, indicating pressure in mid-large cap stocks.

• Nifty Financial Services slipped marginally by 40.10 points (-0.14%) to 27,813.25.

• Nifty Bank bucked the weak trend, edging up 29.20 points (0.05%) to 60,020.05, supported by selective buying in financial stocks.

Top Gainers: FMCG, Infrastructure and Auto Stocks Shine

Buying interest was visible in select FMCG, infrastructure and auto counters, which featured among the top gainers on the Nifty 50.

• Eternal gained 1.42% to trade at ₹284.95, witnessing strong volumes of 167.96 lakh shares, reflecting continued investor confidence.

• Adani Ports rose 1.13% to ₹1,481.80, supported by steady institutional participation.

• Bharat Electronics Ltd (BEL) advanced 1.00% to ₹419.80, backed by robust turnover.

• SBI Life Insurance added 0.69% to ₹2,085.00, aligning with relative strength in the banking and insurance space.

• Bajaj Auto moved up 0.63% to ₹9,851.50, aided by firm auto-sector sentiment.

Top Losers: IT and Metal Stocks Under Pressure

Heavyweight IT and metal stocks dragged the benchmark lower, emerging as major laggards of the session.

• TCS declined sharply by 2.68% to ₹3,207.40, leading losses amid weakness in the IT pack.

• Hindalco fell 2.36% to ₹916.30, tracking pressure in metal stocks.

• JSW Steel slipped 2.05% to ₹1,165.40, reflecting concerns over global demand.

• Wipro eased 1.48% to ₹266.80, adding to sectoral drag.

• Tata Steel declined 1.47% to ₹181.09, despite high trading volumes.

Market Outlook

Overall market sentiment remained cautious as investors adopted a wait-and-watch approach amid mixed sectoral cues. Analysts expect near-term volatility to persist, with stock-specific action likely to dominate trading sessions. Sustained support from banking stocks may limit deeper downside, while weakness in IT and metals could continue to cap upside momentum.

Conclusion: January 8, 2026

Indian equities traded lower with a negative bias, as losses in heavyweight IT and metal stocks outweighed gains in select FMCG, infrastructure and banking counters. With benchmark indices hovering near crucial levels, market participants are likely to remain selective and cautious in the sessions ahead.