Stock Market Outlook Today, 9 January: Sensex, Nifty Expected to Remain Under Pressure

Indian equity markets are likely to remain under pressure during the Friday trading session on January 9, 2026, after benchmark indices witnessed a sharp sell-off on Thursday amid elevated global uncertainty and sustained foreign fund outflows. Weak global cues, worries over potential US tariff measures and continued risk aversion among investors have weighed heavily on market sentiment, prompting broad-based selling across sectors.

Stock Market Outlook Today For 9 January 2026: Sensex, Nifty Forecast

On Thursday, the Sensex plunged 780.18 points, or 0.92 per cent, to close at 84,180.96, while the Nifty slipped 263.90 points, or 1.01 per cent, to settle at 25,876.85, violating the crucial 25,900 support level. The wider markets also remained under pressure, with both the Nifty Midcap100 and Smallcap100 indices declining by around 2 per cent each, reflecting widespread weakness beyond frontline stocks.

Stocks in Focus Today: Metal, Oil and Gas, PSU, Capital Goods Stocks To Watch on Friday

Sectorally, Metal stocks were the worst performers, falling over 3 per cent amidst profit booking following a decline in global commodity prices. Oil and Gas stocks also came under significant pressure due to geopolitical concerns related to the Venezuela–US situation.

PSU Banks, Power, and Capital Goods stocks witnessed sharp losses of 2-3 percent as investors remained cautious. IT stocks traded lower ahead of the Q3 earning season, while export-oriented stocks were hit after reports that the US could impose steep tariffs on countries continuing trade with Russia.

Commenting on the market’s sharp fall, Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services Ltd, said, “Indian equity benchmarks witnessed a steep fall on Thursday, with Nifty50 declining 264 points to close at 25,877 (-1%), as investors grappled with worries over potential US tariffs, continued FII selling and weak global cues.”

He added that selling pressure was visible across all sectors, with Nifty Metal plunging 3.4 per percent, followed by Oil and Gas and PSU Bank indices.

Despite the near-term weakness, Khemka pointed to improving corporate earnings as a potential positive. “There is a ray of hope from corporate earnings, which is expected to see sharp improvement in Q3. We expect our coverage universe to deliver 16 per cent year-on-year PAT growth, the strongest in the past eight quarters,” he said, adding that sectors such as Oil and Gas, NBFC lending, Automobiles, Metals, Capital Goods, and Cement are expected to lead earnings growth.

Nifty Prediction Today, 9 January 2026

From a technical perspective, Bajaj Broking Research noted that the Nifty has formed a strong bearish candle, indicating an extension of the corrective decline for the fourth straight session. “The index closed below the key support zone of 26,000-25,900 and slid below the rising trendline and the 50-day EMA for the first time since October 2025, highlighting a deterioration in the short-term structure,” the brokerage said.

It added that continuing weakness could drag the index towards the 25,700-25,600 zone, which coincides with the previous month’s low and the 100-day EMA.

However, Bajaj Broking also highlighted that momentum indicators suggest the market is entering oversold territory, raising the likelihood of a short-term technical pullback. “For the corrective decline to pause, the index must reclaim the 26,100 level on a closing basis,” it said.

Bank Nifty Outlook Today

On the banking front, Bank Nifty also remained weak, forming a bearish candle with a higher high and lower low. According to Bajaj Broking Research, the index is likely to consolidate in the 59,500-60,400 range in the near term. Immediate support is placed at 59,500, while the vital short-term support zone lies between 59,000 and 58,700, a key area formed by the 50-day EMA and the previous month’s low.

Sensex, Nifty, Stock Price : The stock of Oberoi Realty was consolidating in December between ₹1,600 and ₹1,680. But on January 1, it gathered enough strength to break out of the barrier at ₹1,680, opening the door for further rally. Although the price action shows that there has been no follow through rise yet, the bullish structure is intact.

“Earnings growth is likely to be broad-based, led by Oil & Gas (+25% YoY), NBFC Lending (+26%), Automobiles (25%), Metals (+15%), Telecom (2.6x jump in profits), Capital Goods (+24%), Cement (+66%). Overall, we expect the market to remain under pressure in the near term, pulled by concerns over US tariffs, ongoing geopolitical tensions and weak global market cues,” said Siddhartha. Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services.

Gold prices today

Gold prices on the Multi-Commodity Exchange (MCX) closed 0.03% or ₹42 per 10 grams lower at ₹137,700 per 10 grams after Thursday’s commodities market session, compared to ₹137,742 per 10 grams at the previous market close.

“The pullback in gold rate today Delhi is due to the global factor such as annual rebalancing of major commodity indices. This process is expected to trigger selling worth billions of dollars in coming days. Some macro triggers, including ADP non-farm employment and non-farm payrolls, are likely to add volatility and provide direction to gold prices going ahead,” said Jatin Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.

Stocks to buy today

Sumeet Bagadia, Executive Director at Option Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, has suggested three stocks for Friday.

Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, has suggested selling three stocks during intraday trading.

Stock picks include AIA Engineering, India Cements, Dr. Reddy’s Lab, Infosys, Kfin Technologies, Netweb Technology India, Fertilizers and Chemicals Travancore, and Zensar Technologies.

NIFTY50 and SENSEX witnessed steep falls today, extending the losing streak to fourth straight day. As of 1:30 pm, NIFTY50 index was down 227 points or 0.8% to trade around 25,910, while the Sensex is trading 615 points lower or 0.7% at 84,338 on January 8.

Why is the market down today?

Domestic benchmark indices are trading lower reacting to renowned US tariff fear after US President Donald Trump issued a fresh warning regarding tariffs and has backed a sanctions bill that could impose 500% tariffs on Russian goods and services and may also impact countries purchasing Russian oil. This new bill has raised import tariffs concerns for India as well.

Besides this consistent sell-off by the foreign institutional investors (FIIs) has also kept the market sentiments weak. On Wednesday, FIIs unloaded shares worth ₹1,527.71 crore, turning net sellers for the third consecutive session. So far this month, Flls have sold Indian equities worth Rs 4,650.39 crore. Meanwhile, FIIs have remained net sellers in the Indian markets on a monthly basis since July 2025.

Markets sentiments are also weak amid rising geopolitical tensions. Experts believe further escalation between US-Venezuela conflict could add to geopolitical complexity and affect domestic markets as well.

Broader market indicators like NIFTY Midcap100 (-1.6%) and NIFTY Smallcap100 (-1.7%) are also trading lower. More than 140 stocks hit their 52-week low amid market fall.

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