Markets Trade Lower Midday on January 6 as Heavyweight Selling Weighs; Banks and Metals Offer Support

Indian equity markets traded in the red during the late morning session on January 6, 2026, as selling pressure in select heavyweight stocks offset gains in banking and metal counters. While broader financial indices showed resilience, weakness in a few large-cap names kept the Nifty 50 under pressure, reflecting a cautious and stock-specific market mood.

Also Read: Markets End Lower on January 5 as IT and Banking Stocks Drag Nifty; FMCG and Select Industrials Offer Support

Benchmark Indices: Nifty Slips Despite Financial Strength

The Nifty 50 was trading at 26,188.95, down 61.35 points or 0.23%. The index opened at 26,189.70, moved up to an intraday high of 26,273.95, and touched a low of 26,141.05, indicating intraday volatility amid mixed sectoral cues.

Other key indices showed relative strength:

• Nifty Next 50 gained 0.15% to 70,517.05

• Nifty Financial Services rose 0.43% to 27,970.80

• Nifty Bank outperformed with a 0.33% rise to 60,240.85

Strength in banking stocks helped limit the downside in frontline indices.

Top Gainers: Banks, Metals and Auto Stocks Advance

Buying interest was visible in select banking, metal, auto, and healthcare stocks:

• Apollo Hospitals Enterprise climbed 2.98% to ₹7,294.00, supported by steady defensive buying.

• Hindalco Industries rose 2.75% to ₹957.30, tracking strength in metal stocks.

• Bajaj Auto gained 2.62% to ₹9,746.50, reflecting optimism in the auto space.

• ICICI Bank advanced 2.55% to ₹1,406.50, lending support to the Nifty Bank index.

• State Bank of India added 1.64% to ₹1,022.00, continuing its positive momentum.

Top Losers: Heavyweights Drag the Market

Losses in select heavyweight stocks weighed on overall market sentiment:

• Trent plunged 7.67% to ₹4,090.00, emerging as the biggest laggard of the session.

• Reliance Industries declined 4.14% to ₹1,512.70, exerting significant pressure on the benchmarks.

• Tata Motors DVR slipped 1.98% to ₹366.15.

• Power Grid Corporation of India fell 1.38% to ₹267.90.

• HDFC Bank eased 1.30% to ₹964.80, partially offsetting gains in other banking stocks.

Market Sentiment: Stock-Specific and Cautious

Overall sentiment remained cautious, with investors selectively rotating into banks, metals, and autos while trimming exposure to certain large-cap and consumption-linked stocks. Volumes were healthy in select counters, but broader participation remained mixed.

Conclusion: January 6, 2026

Indian markets traded lower in the late morning session on January 6 as sharp losses in select heavyweight stocks overshadowed gains in banking and metal names. With indices showing intraday volatility and sectoral divergence, near-term market direction is likely to remain stock-specific, guided by global cues, institutional flows, and upcoming corporate developments.