Quote on market wrap 19th January 2026 from Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Below the Quote on market wrap 19th January 2026 from Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
"Markets started the week on a weak note and declined nearly half a percent, pressured by negative cues. The benchmark index opened lower amid renewed risk aversion, faced broad-based weakness throughout the session, and eventually settled in the red, reflecting a cautious undertone. The Nifty closed at 25,585.50, down by 0.42%. Most sectors ended lower, with heavyweights from energy, banking and IT leading the declines as earnings disappointment and macro concerns weighed on sentiment. The broader market mirrored this weakness, with both midcap and smallcap indices also slipping, indicating widespread selling rather than isolated sector moves.
Sentiment further deteriorated following disappointing quarterly results from major companies such as Reliance Industries and ICICI Bank. In addition, weakness in the IT space, highlighted by a sharp fall in Wipro after softer revenue forecasts, added to the negative bias. Investor caution was also reinforced by ongoing global uncertainties, including fresh concerns around potential tariff actions by the US President, along with continued foreign institutional selling.
From a technical perspective, the Nifty’s break below the key support zone near 25,600 signals a continuation of the near-term corrective trend, with the next support placed around the 25,300–25,400 range. In the event of a rebound, the 25,600 level followed by the 25,800 zone is likely to act as strong resistance. Despite the prevailing weakness in the index, select sectors and themes continue to show relative strength. Participants are therefore advised to align their positions accordingly, focusing on sectoral leadership and maintaining disciplined risk management."
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