Markets Commentary for 16th January 2026 by Ashika Institutional Equities
Below the Markets Commentary for 16th January 2026 by Ashika Institutional Equities
Indian equity markets witnessed a highly volatile trading session on Friday, with sharp swings on both sides. The benchmark Nifty opened on a muted note at 25,696, advanced to an intraday high of 25,873, but failed to sustain higher levels after facing stiff resistance in the 25,800–25,850 zone. The index eventually slipped to an intraday low of 25,662, reflecting profit-taking at elevated levels. On the sectoral front, IT, Realty, Banking, and Oil & Gas stocks outperformed and provided support to the broader market. In contrast, Healthcare, Pharma, Consumer Durables, CPSE, and Energy stocks witnessed selling pressure, which capped further upside. The IT sector was the standout performer, gaining 2.9%, driven by a strong rally in Infosys, which surged nearly 5% after reporting robust quarterly earnings and raising its full-year revenue growth guidance. In the derivatives segment, market breadth remained marginally positive, with 131 stocks advancing against 82 declines. The highest open interest addition was observed in 360ONE, ANGELONE, FEDERALBNK, POLYCAB, and POWERINDIA, indicating heightened activity in these counters. From the Nifty options perspective, maximum Call open interest is concentrated at the 26,000 and 25,800 strike prices, signaling strong resistance at higher levels. On the Put side, maximum open interest is seen at 25,700 and 25,800, suggesting immediate support in the near term. The Nifty PCR stands at 0.68, reflecting cautious market sentiment. Market participants are expected to lighten positions ahead of the weekend, amid ongoing geopolitical uncertainties, to mitigate potential overnight risks.
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