Indian Stock Market Today: Nifty and Sensex Rebound Ahead of Earnings Season
Indian equities broke their five-day losing streak to end near day’s high, driven by hopes of an India-US trade deal and the upcoming earnings season. The Nifty had fallen below the 25,000 levels but closed near 25,800. Intraday, both Nifty and Sensex fell nearly 0.90% but saw a sharp recovery, rising as much as 0.50%.
Nifty and Sensex Close Higher
Nifty ended 106.95 points or 0.42% higher at 25,790.25. Nifty recovered over 300 points from the day’s low. Sensex ended 301.93 points or 0.36% higher at 83,878.17.
US Market Wrap
Wall Street witnessed a tumultuous session as stocks and bonds rebounded from early losses, but the atmosphere remained cautious due to the Trump administration’s escalated attack on the Federal Reserve. Shares of major financial institutions, including Capital One Financial Corp., American Express Co., and JPMorgan Chase & Co., plummeted following President Donald Trump’s call to cap credit card interest rates at 10% for a year.
The yield on 10-year Treasuries rose by two basis points to 4.19%, and the dollar gauge declined by 0.2%. The S&P 500 rose 0.2% as of 4 p.m. New York time while the Nasdaq 100 was little changed. The Dow Jones Industrial Average rose 0.2% and The MSCI World Index rose 0.2%, reports Bloomberg.
Asian Market Wrap
Asian shares are trading near record highs, driven by optimism over earnings and regional economic growth. Investors are increasingly looking beyond US markets, with the MSCI Asia Pacific Index rising 0.9% for the second consecutive day. This growth has allowed Asian shares to outpace the S&P 500, despite the US benchmark reaching a record high with a 0.2% increase.
Japan’s stock market saw significant gains after the holiday, contributing to the region’s positive momentum. The yen also strengthened, gaining up to 0.2% to 157.90 per dollar, reports Bloomberg.
Commodity Check
Gold steadied after surging on Monday on worries over the Federal Reserve’s independence as the Trump administration threatened the central bank with a criminal indictment. Bullion traded near $4,588 an ounce after jumping 2% in the previous session.
Spot gold fell 0.2% to $4,587.96 an ounce as of 7:37 a.m. Singapore time. Silver dropped 1.4% after surging by more than 6% on Monday, reports Bloomberg.
Oil traded near the highest level since early December after US President Donald Trump said he is imposing a 25% tariff on goods from countries “doing business” with Iran after a wave of deadly unrest in the OPEC member. West Texas Intermediate climbed toward $60 a barrel after jumping more than 6% over the previous three sessions, while Brent closed below $64 on Monday, Bloomberg reported.
Key Events
German Chancellor Friedrich Merz will be in Bengaluru on the second day of his visit.
Earnings In Focus
ICICI Prudential Life Insurance, ICICI Lombard, Tata Elxsi, Bank of Maharashtra, Just Dial
Earnings Post Market Hours
TCS Q3FY26 Results (Cons QoQ)
Revenue up 1.95% at Rs 67087 crore versus Rs 65799 crore (Est Rs.66,892.90 crore)
Ebit up 1.95% at Rs 16889 crore versus Rs 16565 crore (Est Rs. 16,658.50 crore)
Ebit margin flat at 25.17% versus 25.17% (Est 24.90% )
Net profit down 11.74% at Rs 10657 crore versus Rs 12075 crore (Est Rs. 12,868.39 crore).
TCS Key Highlights
Numbers in line with estimates, Profit is a miss down 11.7%
New Labour Codes, legal claim & restructuring impacting the profits by Rs 3,391 crore.
Revenue grew in CC terms at 0.8% vs 0.6% in Q2
Company announced a bumper dividend of Rs.57 including Rs.46 per share as special dividend
Q3 Annualized AI Rev at $1.8 billion, up 17.3% QoQ in CC
Attrition at 13.5% vs 13.3 in Q2, Headcount down by 11,151 QoQ in Q3
Deal wins remains strong at $9.3 bn vs $10 bn in Q2
HCL Technologies
HCL Technologies Q3 FY26 Results (Cons QoQ)
Revenue up 6.04% at Rs 33872 crore versus Rs 31942 crore.
Ebit up 14.23% at Rs 6285 crore versus Rs 5502 crore.
Ebit margin up 133 bps at 18.55% versus 17.22%.
Net profit down 3.77% at Rs 4076 crore versus Rs 4236 crore.
Key Takeaways
Numbers beat estimates; miss on profits, down 3.77%
One time impact of New Labour Codes dragging profits by Rs.956 crore
Upgraded service rev guidance to 4.75% – 5.25% (vs 4 – 5%)
HCL Software business grew the most, up 28.1% & IT biz is up 1.5% QoQ CC
TCV at $3 bn up 17.0% QoQ vs 2.6 bn in Q2
Advanced AI Revenue at $146M, up 19.9% QoQ CC
Anand Rathi (Cons, YoY)
Total Income down 0.4% At Rs 306 crore versus Rs 307 crore QoQ
Revenue 289.62 crore vs 237.04 crore
(+22.18% YoY & -2.60% QoQ)
PAT 100.19 crore vs 77.30 crore
(+29.61% YoY & +0.29% QoQ)
AUM And Inflows
AUM: Rs 99,008 crore, +30% YoY.
Mutual fund distribution revenue: Rs 366 crore, +21% YoY.
Net inflows: Rs 10,078 crore, +10% YoY (Equity MF: Rs 6,082 crore, +4% YoY).
Q3 Business Update
Kalpataru
Pre-Sales down 14% at Rs 870 crore (YoY)
Collections up 17% at Rs 1,101 crore (YoY)
Stocks In News
Muthoot Microfin: Board Meet on Jan. 20 to consider a fundraise via NCDs.
Indiqube Spaces: Announced expansion into Bhubaneswar. The company strengthens pan-India footprint to 17 cities.
KP Energy: The company in pact with Gujarat Govt to develop renewable energy projects for projects worth Rs 4000 crore.
Solex Energy: The company revised the disclosed value of its solar module work order to Rs 289.84 crore inclusive of taxes. The order is to supply solar Pv modules to a reputed independent power producer. The revision does not change the execution of the contract.
IPO Offering
Bharat Coking Coal Ltd. is engaged in the production of coking coal, non-coking coal, and washed coal. The company is a wholly owned subsidiary of Coal India Ltd. The public issue was subscribed to 33.67 times on day 2. The bids were led by Qualified institutional investors (1.44 times), non-institutional investors (96.36 times), retail investors (26.94 times), employee reserved (2.62 times), and reservation portion shareholder (44.03 times).
IPO Opening
The company is engaged in cloud-based broadcast and connected Tv technology. It provides end-to-end solutions for content creation, distribution, and monetization across traditional Tv and streaming platforms. The total IPO issue size is Rs 1,788 crore. The issue is a combination of a fresh issue of Rs 816 crore and an OFS of Rs 972 crore. The price band is at 343 per share to 361 per share.
Block Deals
Force Motors: Poonawalla Aviation Private Limited bought 0.38 lakh shares (0.29%) at Rs 19790 apiece, Serum Institute Of India Private Limited sold 0.38 lakh shares (0.29%) at Rs 19790 apiece.
Trading Tweak
Ex-bonus Issue: Authum Investment & Infrastructure (4:1)
Share to exit anchor Lock-in: Canara HSBC Life (4%)
F&O Cues
Nifty January futures up by 0.36% to 25,880 at a premium of 90 points.
Nifty January futures open interest up by 1.7%.
Nifty Options on Jan 13: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,500.
Securities in ban period: SAIL, Samman Capital
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