The Nifty ended 264 points lower, while the Sensex was down by 780 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 8 January 2026: Today, the benchmark indices corrected sharply. The Nifty ended 264 points lower, while the Sensex was down by 780 points. Among sectors, all the major sectoral indices traded in the red, but the Metal Index lost the most, shed 3.45 percent. Technically, the market breached the 20-day SMA (Simple Moving Average) support zone, and post-breakdown, selling pressure intensified. On daily charts, it has formed a long bearish candle, indicating further weakness from the current levels.
We are of the view that as long as the market is trading below 26,000/84500, weak sentiment is likely to continue on the downside, and the market could slip till 25,750-25,700/84000-83700. On the flip side, If it moves above 26,000/84500, the pullback could continue till 26,075-26,100/84800-85000.
Gaurav Garg, Research Analyst Lemonn Markets Desk, reports:
Indian equity markets extended losses for a fourth consecutive session on Thursday, recording their largest decline in over four months. The Sensex fell 780 points to close at 84,180, while the Nifty slipped 1 percent to 25,876, falling below its 50-day moving average. Selling was broad-based, with metals and oil & gas stocks leading the decline, including TCS, Hindalco, and JSW Steel. Some stocks, such as Eternal and Adani Ports, showed resilience.
Markets were influenced by foreign fund outflows, global cues, rising crude prices, derivatives expiry-related volatility, and concerns over potential U.S. tariffs on Indian goods connected to Russia-related trade sanctions. Investor sentiment was reflected in a rise in India VIX. Despite short-term weakness, the broader trend remains structurally bullish. A drop below 25,750 on the Nifty could signal a change in market outlook.
