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Below the Quote on Closing Market Summary 08th January 2026 by Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited

"Indian equity markets witnessed a sharp negative session on Thursday, extending weakness amid heightened global uncertainties and sustained selling pressure. Benchmark indices settled lower, with the Nifty 50 slipping below the key 26,000 mark as broad-based profit taking intensified. Persistent foreign outflows and concerns over U.S. trade policy contributed to risk-off sentiment during the session.

The Nifty 50 opened weak and remained under pressure throughout most of the trading session, eventually closing below 26,000, highlighting a cautious market tone and lack of fresh bullish triggers. Selling was visible across sectors, with autos, metals, and PSU banks among the leading laggards, while select counters managed modest gains amid volatility. Key support for the index now lies near the 25,700–25,750 zone. Sustaining levels above 26,000–26,050 remains important to prevent further deterioration, while 26,150–26,200 continues to act as an immediate resistance band

The Bank Nifty also reflected the broader weakness, trading lower and reacting to selling in heavyweight banking stocks. Key support for the index now lies near the 59,300–59,400 zone, which will be crucial in cushioning any further downside. On the upside, the 59,900–60,000 zone remains an important resistance that needs to be reclaimed for upside momentum to stabilize.

Volatility remained slightly elevated as market participants responded to macro uncertainties and geopolitical developments, keeping India VIX at relatively higher levels compared to recent sessions. Overall, sentiment was cautious to negative, with consolidation likely to persist and stock-specific action dominating the trade as participants weigh global cues, tariff concerns, and near-term technical supports."

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