BSE Sensex stood at 84,961.14, down 102.20 points, or 0.12%, while the NSE Nifty50 closed at 26,140.75, down 37.95 points, or 0.14%.
While the Sensex and Nifty50 ended in the red, the Nifty Midcap 100 and the Nifty Smallcap 100 indices bucked the trend, closing 0.45% and 0.39% higher, respectively.
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Impact on the stock market
Sector-wise performance
Nifty Auto and Nifty Oil and Gas sectors were the biggest losers of the day. The Nifty Auto index declined due to weak performances from key players like Maruti Suzuki and Tata Motors. The Nifty Oil and Gas sector was also hit hard, primarily due to the volatility in crude oil prices.
On the flip side, the Nifty Consumer Durables and Nifty IT sectors performed well, rising 1.87% and helping to offset some of the broader market weakness.
| Sector/Index | Performance |
| IT & BPM sector | 1.87% |
| Healthcare sector | 0.44% |
| Oil & Gas sector | -0.66% |
| Real estate sector | -0.50% |
| PSU Bank in India | -0.27% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Tata Elxsi | 5,853.00 | 9.50 |
| Elecon | 517.85 | 8.04 |
| Saregama India | 377.55 | 6.76 |
| Sonata | 372.80 | 6.03 |
| KPIT Tech | 1,208.50 | 6.02 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Cipla | 16,809.00 | -2.79 |
| Maruti Suzuki | 264.10 | -1.66 |
| Power Grid Corp | 1,034.70 | -1.61 |
| Max Healthcare | 363.35 | -1.50 |
| TMPV | 16,809.00 | -2.79 |
Market aftermath: Impact on stocks
Emcure Pharmaceuticals: A Strong Surge in the Face of Market Volatility
Emcure Pharmaceuticals saw a strong performance on January 7, with its stock rising nearly 3% to hit a fresh 52-week high of ₹1,568.30. However, it erased these gains by the end of the day, closing marginally lower at ₹1,522. This sharp volatility was primarily driven by the company’s recent weight-loss injection launch.
The stock has performed well over the past six months, gaining 22%, and 12% in just the past five days. Emcure has become the first Indian company to secure exclusive rights to distribute Poviztra, a weight-loss injection, which further boosted its stock. Analysts are recommending a “buy-on-dips” approach, with a support range near ₹1,480–1,500. The near-term upside potential for the stock is seen to be ₹1,580–1,620, assuming the broader bullish trend continues.
Sandisk: A Strong Performer in the AI and Digital Storage Space
Sandisk has been one of the best-performing stocks recently, with a 48% rise so far in 2026, and a staggering 9x return over the past year. The stock has been buoyed by the growing demand for digital storage, driven largely by AI applications, including AI training and edge computing.
This increased demand has been compounded by tight supply conditions and rising prices, which have significantly benefited companies like Sandisk. In fact, Sandisk’s market capitalisation has soared from $5.6 billion at the time of its spinoff in February 2025 to nearly $40 billion now.
The surge in memory prices and the growing reliance on storage for AI systems make Sandisk a strong contender in the tech market. With memory prices expected to rise even further, Sandisk’s market share is expanding, while its competitors such as Samsung and SK Hynix are losing ground. Investors who bought Sandisk at the time of its spinoff have seen their investment grow exponentially, a testament to the company’s strong fundamentals and market position.
Sri Lotus Developers: Gaining Ground with GIFT City Expansion
Sri Lotus Developers saw a notable 4% jump in its stock price after announcing its entry into Gujarat’s GIFT City with an ultra-luxury mixed-use project. This deal, in partnership with Bollywood actor Abhishek Bachchan, involves developing over one million square feet of premium retail, Grade-A office spaces, and high-end residential units.
The project aims to cater to the growing demand from financial institutions, fintech firms, and IT/ITeS companies in the region. This marks the company’s first major expansion outside of Mumbai, and the market has reacted positively to this strategic move. Over the past month, Sri Lotus Developers’ shares have gained around 7%, after a significant 14% dip in the past six months.
The development is expected to complete within four years and is seen as a significant milestone for the company’s growth. The entry into GIFT City is expected to be a game-changer, positioning the company to take advantage of the increasing interest in Gujarat’s financial hub.
Crude Oil: Market Impact of Venezuela’s Oil Announcement
Crude oil futures took a hit on Wednesday after US President Donald Trump announced that Venezuela would supply millions of barrels of oil to the US. This news led to a 1.12% drop in Brent crude futures, which were trading at $60.02, and a 1.52% decline in WTI crude futures, which stood at $56.26.
Venezuela holds the world’s largest proven oil reserves but currently produces less than 1% of global output. The announcement has added uncertainty to an already volatile oil market. However, it’s worth noting that foreign investment in Venezuela’s oil sector is still hesitant due to political instability and the lack of an attractive investment environment.
The US Energy Information Administration (EIA) is set to release official inventory data later today, which will provide further clarity on crude oil supply levels. The current situation underlines the ongoing supply challenges in the oil market and could have lasting implications for global prices.
Conclusion
The Indian stock market faced another tough day, with geopolitical risks and sector-specific weaknesses contributing to a third consecutive session of losses. The auto and oil sectors took a significant hit, but there were still bright spots in the form of sectors like IT and consumer durables.
Stocks like Emcure Pharmaceuticals, Sandisk, and Sri Lotus Developers showed resilience, each driven by unique market factors that continue to generate investor interest. Meanwhile, crude oil prices remain volatile, and the market is closely monitoring the impact of the US-Venezuela oil agreement.
As we look ahead, it’s clear that the market will continue to face challenges from external factors, but there are still opportunities for growth in specific sectors. The key will be staying informed and strategically navigating the volatility in the months ahead.
For more stock market insights, check out the StockGro blog.
