Markets Commentary for 23rd January 2026 by Ashika Institutional Equities
Belwo the Markets Commentary for 23rd January 2026 by Ashika Institutional Equities
Indian equity markets ended lower on Friday as persistent selling pressure weighed on sentiment throughout the session. The benchmark Nifty opened at 25,344, briefly touched an intraday high of 25,347, and drifted lower to test the 25,050 level. Sectorally, the pressure was broad-based, with all major indices ending in the red. Realty, PSU Banks, Media, and Energy stocks bore the brunt of the selling, reflecting risk-off sentiment across the market. On the macro front, the rupee slipped to a fresh all-time low of 91.95 against the US dollar, further dampening investor confidence. Additionally, stock-specific earnings-related reactions added to the downside pressure during the session. In the derivatives segment, market breadth remained heavily skewed towards the declining side. Notable open interest buildup was observed in stocks such as Paytm, Cipla, Phoenix Ltd, Bajaj Finserv, and Lodha, indicating active positioning. In the Nifty options space, the highest call open interest was seen at the 25,300 and 25,500 strike prices, suggesting strong resistance levels, while the 25,000 strike held the maximum put open interest, acting as a key support. The Put-Call Ratio (PCR) stood at 0.58. Overall, the market closed on a weak note, with sentiment remaining fragile amid currency pressure and cautious positioning in the derivatives market.
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