Mumbai, January 23, 2026 – Indian benchmarks capped a volatile week on a sour note Friday, with Nifty 50 sliding 1% to 25,048.65 and Sensex (not detailed) down similarly, pressured by sustained FII selling (₹2,000 Cr net out) and muted Q3 earnings from banking amid rural slowdown and rate hike fears. Broader indices like Nifty Bank (down 1.2% to 58,473.10) and Nifty Midcap (down 1.9% to 13,066.65) amplified the decline, reflecting leverage unwind in mid-caps and financials. This marks the market's close ahead of the Republic Day long weekend—trading resumes Tuesday, January 27, with eyes on budget previews and global cues.
The session underscores January's choppiness, with volumes down 10% on holiday eve caution and decliners leading 1.4:1. Analysts at @TheNewsStrike in Jaipur note potential rebounds if PMI beats estimates, targeting Nifty 25,500 support amid local trader optimism.
Key Indices Performance Snapshot
Here's the close as of 3:35 PM IST on Jan 23, based on NSE data:
| Index Name | LTP | Chg | Chg% | Last Update |
|---|---|---|---|---|
| Nifty 50 | 25,048.65 | -241.25 | -1.0% | 03:35:59 pm |
| Nifty 500 | 22,706.20 | -302.55 | -1.3% | 03:35:59 pm |
| Nifty Bank | 58,473.10 | -727.00 | -1.2% | 03:35:59 pm |
| Nifty Financial Services | 26,821.35 | -328.60 | -1.2% | 03:35:59 pm |
| Nifty Midcap | 13,066.65 | -258.80 | -1.9% | 03:35:59 pm |
| Nifty Next 50 | 66,260.55 | -1,332.25 | -2.0% | 03:35:59 pm |
Key Spotlights:
- Nifty 50's Broad Slide: Closed at 25,048.65 (-1%), dragged by financials and mid-caps—erased weekly gains amid Jaipur's trading community buzz on budget hopes.
- Nifty Bank's Rate Pressure: Down 1.2% to 58,473.10, hit by NPA worries and lending curbs; echoes sector's 5% monthly dip.
- Midcap and Next 50 Meltdown: Midcap fell 1.9% to 13,066.65 on leverage calls, while Next 50 tanked 2% to 66,260.55 amid small-cap rotations.
- Financial Services Fade: Slipped 1.2% to 26,821.35, underscoring insurance and NBFC margin hits.
Value seekers may eye dips in oversold indices (RSI <35), but holiday risks linger. Nifty support at 25,000—watch Tuesday open for FII pivot. NSE data; market reopens Jan 27.
