Sensex, Nifty Crash Today Reasons: Equity benchmark indices Sensex and Nifty extended the losses to fourth straight session on Thursday (January 8) amid
persistent foreign fund outflows and concerns about potential US tariff hikes. At 11:40 AM, the 30-share BSE Sensex declined 438 points or 0.52 per cent to quote at 84,522. The Nifty 50 index cacked below 26,000-mark as it fell 161.60 points or 0.62 per cent to 25,979.15. Sectorally, all the indices were trading in red with Nifty Metal emerging as the top loser. The Nifty Bank index crashed 3.05 per cent, followed by Nifty IT, Nifty Oil & Gas and Nifty PSU Bank -- down more than 1 per cent each. The broader market indices mirrored the frontline indices, with the both Nifty Midcap 100 and Nifty Smallcap 100 falling more than 1 per cent each. In the Nifty 50 pack, only 11 stock traded int he green with BEL and Adani Ports gaining 1 per cent. Eternal, HUL, ICICI Bank, SBI Life and IndiGo were other major gainers. Hindalco lost more than 3.50 per cent, followed by TCS, JSW Steel, ONGC, HDFC Life, Jio Financial Services, Adani Enterprises, Tata Steel, Wipro, Tech Mahindra, Reliance Industries, Bajaj Finserv, Grasim Industries and Coal India were other top gainers.
US-India Trade Deal
VK Vijayakumar, Chief Investment Strategist, Geojit Investments, said that the much-awaited US-India trade deal, which is critical for India's sustained growth and macro-economic stability, is not happening. This and the continuing FII selling, he said, are impacting the market.
US Tariffs: Trumps Backs 500% Russia Tariff Bill
Meanwhile, US Senator Lindsey Graham has said that President Donald Trump has approved a bipartisan bill that would impose tough sanctions on Russia and could also be used as pressure against countries such as India, China and Brazil for continuing to buy Russian oil. The proposed legislation, titled the “Sanctioning of Russia Act 2025”, aims to penalise nations that the United States believes are helping Russia fund its war in Ukraine by purchasing discounted crude oil.
At present, the Trump administration has imposed 50 per cent tariff on India, including 25 per cent for buying Russian oil.
FII Selling
Foreign Institutional Investors (FIIs) continued their selling spree into 2026. On Wednesday, foreign institutional investors offloaded equities worth Rs 1,527.71 crore on Wednesday, while domestic institutional investors bought stocks worth Rs 2,889.32 crore.
Global Markets, US Jobs Data
The US markets ended mixed amid choppy trade. The Dow Jones and S&P 500 slipped after a positive start, while the Nasdaq edged higher. Sentiment was influenced by softer-than-expected US private sector job data.
Asian markets were trading lower, with Japan’s Nikkei 225 and Hong Kong’s Hang Seng quoting in the red.
Nifty Support At 25860
Om Mehra, Technical Research Analyst, SAMCO Securities, said that as long as Nifty continues to respect the 25,980–26,000 support band linked to rising short-term averages, the prevailing bullish trend remains intact.
Harish Jujarey, AVP (Head - Technical Equity Research), Prithvi Finmart, told ET NOW Swadesh that Nifty has given a breakdown on Thursday and cracked below the support of 25,950. The index has now slipped below 20-day and 50-day moving averages. "Nifty has a key support at 25,860, which was the low of the previous swing. I am expecting Nifty to hold this level. If Nifty falls below 25,86, the selling could extend," he said.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
