Stock market: Sensex slips 417 pts, Nifty below 24,950; Kotak Bank shares down 4%
Mahindra & Mahindra (M&M) declined 4.09%, while Eternal, Maruti Suzuki and IndiGo down 1.53%, 1.03% and 1.03%, respectively.
- Jan 27, 2026,
- Updated Jan 27, 2026 9:44 AM IST
Domestic equity benchmarks Sensex and Nifty began Tuesday’s session on a negative note after the Republic Day holiday, tracking mixed global cues and selling pressure in heavyweight stocks such as Kotak Mahindra Bank, M&M and Eternal.
At 9:20 am, the BSE Sensex slipped 334.09 points, or 0.41%, to 81,203.61 after falling nearly 417 points in early trade. The NSE Nifty declined 79.05 points, or 0.32%, to 24,969.60, after briefly touching a low of 24,937.55.
Among Sensex constituents, Kotak Mahindra Bank slipped 4.41% to Rs 403.60. Mahindra & Mahindra (M&M) declined 4.09%, while Eternal, Maruti Suzuki and IndiGo down 1.53%, 1.03% and 1.03%, respectively.
Broader market sentiment remains fragile, weighed down by continued foreign institutional investor outflows, a weak global risk environment, and concerns over earnings momentum. He added that traders are likely to remain cautious, with volatility expected to stay elevated in the near term, said Aakash Shah, Technical Research Analyst at Choice Equity Broking.
Asian markets traded in the green. At last check, Japan’s Nikkei 225 was up 0.25% to 53,017.71, while South Korea’s Kospi rose 2% at 5,048.40. Hong Kong’s Hang Seng Index gained 1.18% to 27,082.43.
Meanwhile, Shrikant Chouhan, Head Equity Research at Kotak Securities, said that during the week, the market fell below the 200-day SMA (Simple Moving Average), and post-breakdown selling pressure increased. “Technically, on weekly charts, it has formed a long bearish candle and is comfortably trading below short-term averages, which is largely negative,” he added.
All three of the major indices closed higher on Wall Street overnight. The S&P 500 advanced 0.50% to close at 6,950.23, while the Dow Jones Industrial Average gained 0.64% to 49,412.40. The Nasdaq Composite rose 0.43% to settle at 23,601.36.
Meanwhile, on Friday, the Sensex plunged 769.67 points, or 0.94%, to end at 81,537.70. The Nifty slipped 241.25 points, or 0.95%, to settle at 25,048.65.
“We are of the view that as long as the market trades below the 100-day SMA or 25500/83000, the weak formation is likely to continue. On the downside, 24900/81100 would act as an immediate support zone. Below this level, selling pressure is likely to accelerate,” Chouhan said.
Further below, the market could slip to 24700–24500/80500–80000. On the upside, above 25,200/82,000, we could see a quick pullback up to 25,350–25,500/82,500–83,000, Chouhan noted.
Shah said benchmark indices continued their corrective phase, with the Nifty 50 edging closer to the key 25,000 level, while the Sensex ended sharply lower amid broad-based selling pressure. According to him, financials, energy, and select consumption stocks led the decline, while IT stocks largely traded in a range.
“From a technical standpoint, the Nifty continues to trade below its short-term moving averages, indicating a fragile setup. The 25,200–25,300 zone is now seen as immediate resistance, and any pullback towards this area may invite selling pressure. On the downside, 25,000 remains critical psychological and technical support. A decisive breakdown below this level could accelerate weakness towards the 24,950–24,900 region in the near term. Momentum indicators remain subdued, though oversold conditions may result in brief, stock-specific relief rallies,” Shah said.
Domestic equity benchmarks Sensex and Nifty began Tuesday’s session on a negative note after the Republic Day holiday, tracking mixed global cues and selling pressure in heavyweight stocks such as Kotak Mahindra Bank, M&M and Eternal.
At 9:20 am, the BSE Sensex slipped 334.09 points, or 0.41%, to 81,203.61 after falling nearly 417 points in early trade. The NSE Nifty declined 79.05 points, or 0.32%, to 24,969.60, after briefly touching a low of 24,937.55.
Among Sensex constituents, Kotak Mahindra Bank slipped 4.41% to Rs 403.60. Mahindra & Mahindra (M&M) declined 4.09%, while Eternal, Maruti Suzuki and IndiGo down 1.53%, 1.03% and 1.03%, respectively.
Broader market sentiment remains fragile, weighed down by continued foreign institutional investor outflows, a weak global risk environment, and concerns over earnings momentum. He added that traders are likely to remain cautious, with volatility expected to stay elevated in the near term, said Aakash Shah, Technical Research Analyst at Choice Equity Broking.
Asian markets traded in the green. At last check, Japan’s Nikkei 225 was up 0.25% to 53,017.71, while South Korea’s Kospi rose 2% at 5,048.40. Hong Kong’s Hang Seng Index gained 1.18% to 27,082.43.
Meanwhile, Shrikant Chouhan, Head Equity Research at Kotak Securities, said that during the week, the market fell below the 200-day SMA (Simple Moving Average), and post-breakdown selling pressure increased. “Technically, on weekly charts, it has formed a long bearish candle and is comfortably trading below short-term averages, which is largely negative,” he added.
All three of the major indices closed higher on Wall Street overnight. The S&P 500 advanced 0.50% to close at 6,950.23, while the Dow Jones Industrial Average gained 0.64% to 49,412.40. The Nasdaq Composite rose 0.43% to settle at 23,601.36.
Meanwhile, on Friday, the Sensex plunged 769.67 points, or 0.94%, to end at 81,537.70. The Nifty slipped 241.25 points, or 0.95%, to settle at 25,048.65.
“We are of the view that as long as the market trades below the 100-day SMA or 25500/83000, the weak formation is likely to continue. On the downside, 24900/81100 would act as an immediate support zone. Below this level, selling pressure is likely to accelerate,” Chouhan said.
Further below, the market could slip to 24700–24500/80500–80000. On the upside, above 25,200/82,000, we could see a quick pullback up to 25,350–25,500/82,500–83,000, Chouhan noted.
Shah said benchmark indices continued their corrective phase, with the Nifty 50 edging closer to the key 25,000 level, while the Sensex ended sharply lower amid broad-based selling pressure. According to him, financials, energy, and select consumption stocks led the decline, while IT stocks largely traded in a range.
“From a technical standpoint, the Nifty continues to trade below its short-term moving averages, indicating a fragile setup. The 25,200–25,300 zone is now seen as immediate resistance, and any pullback towards this area may invite selling pressure. On the downside, 25,000 remains critical psychological and technical support. A decisive breakdown below this level could accelerate weakness towards the 24,950–24,900 region in the near term. Momentum indicators remain subdued, though oversold conditions may result in brief, stock-specific relief rallies,” Shah said.