1. Major Indices Plunge Sensex closed at 84,181, down 780 points. Nifty ended at 25,877, losing 264 points. Both benchmarks slipped below critical technical levels, signaling bearish momentum. 2. Market Capitalisation Hit BSE-listed companies lost over ₹8 lakh crore in market value in a single session. This sharp erosion reflects heightened investor panic and risk aversion. 3. Broad-Based Selling Selling pressure was visible across sectors including IT, banking, telecom, and metals. Heavyweights like Reliance Industries,
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On January 6, 2026, Reliance Industries (RIL) confirmed that its Jamnagar refinery had not received any Russian crude oil cargoes in recent weeks and did not expect deliveries in January. This announcement triggered a sharp decline in RIL shares, which fell over 4.4% intraday, eroding nearly ₹95,000 crore in market capitalization. India’s overall Russian oil imports are expected to drop to multi‑year lows this month, raising questions about supply diversification and geopolitical risks. Market Reaction
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Meesho’s shares faced a sharp decline, hitting the lower circuit on Wednesday as the one‑month post‑listing lock‑in period for pre‑IPO investors expired. The expiry of this lock‑in triggered significant selling pressure, with early investors and insiders offloading part of their holdings. The sudden surge in supply weighed heavily on the stock price, leading to a steep fall and raising concerns about short‑term volatility in the counter. Background Meesho, the Bengaluru‑based e‑commerce platform, made its market
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The Indian IT sector enters Q3 FY26 with cautious optimism. Analysts expect seasonal softness in revenues due to furloughs and client holidays in Western markets, but AI-driven demand and large deal wins are likely to provide resilience. Key themes shaping this quarter include: AI-led transformation projects driving incremental demand. Muted sequential growth due to seasonality. Margin pressures from wage hikes and currency fluctuations. Strong order pipelines in BFSI, healthcare, and manufacturing verticals. Company-Specific Expectations Coforge
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The Competition Commission of India (CCI) has concluded a multi‑year investigation into alleged price collusion among India’s largest steel producers. According to a confidential regulatory order, Tata Steel, JSW Steel, and state‑run SAIL, along with 25 other firms, were found to have coordinated steel selling prices over several years. The probe revealed that 56 senior executives, including Tata Steel CEO T.V. Narendran, JSW Steel’s Managing Director Sajjan Jindal, and multiple former SAIL chairpersons, were directly
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