The Nifty settled below the 25,700 level. Oil & gas, IT and PSU bank shares advanced while realty, auto and consumer durables shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex, tumbled 604.72 points or 0.72% to 83,576.24. The Nifty 50 index dropped 193.55 points or 0.75% to 25,683.30. In five consecutive trading sessions, the Sensex declined 2.54% while the Nifty fell 2.45%.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index tanked 0.90% and the S&P BSE Small-Cap index declined 1.74%.

The market breadth was weak. On the BSE, 1,069 shares rose and 3,101 shares fell. A total of 184 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.06% to 10.93.

IPO Update:

The initial public offer (IPO) of Bharat Coking Coal received bids for 2,43,23,01,000 shares as against 34,69,46,500 shares on offer, according to stock exchange data at 15:35 IST on Friday (9 January 2026). The issue was subscribed 7.01 times.

The issue opened for bidding on Friday (9 January 2026) and it will close on Tuesday (13 January 2026). The price band of the IPO is fixed between Rs 21 and 23 per share. An investor can bid for a minimum of 600 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Realty index declined 2.26% to 874. The index declined 3.86% in the four consecutive trading session.

Godrej Properties (down 4.91%), Anant Raj (down 3.73%), DLF (down 3.13%), Lodha Developers (down 2.59%) and Oberoi Realty (down 2%), Prestige Estates Projects (down 1.59%), Brigade Enterprises (down 1.12%), Sobha (down 0.68%) declined.

Stocks in Spotlight:

Elecon Engineering Company dropped 16.22% after the company's consolidated net profit declined 33.1% to Rs 71.99 crore despite a 4.3% rise in revenue from operations to Rs 551.74 crore in Q3 FY26 over Q3 FY25.

JSW Steel rose 0.49%. The company recorded consolidated steel production of 7.48 million tonnes in Q3 FY26, marking a 6% year-on-year (YoY) increase compared with 7.03 million tonnes in Q3 FY25.

Power grid Corporation of India shed 0.10%. The company has been declared as successful bidder under tariff based competitive bidding (TBCB) for the development of 3GW transmission system in Davanagere, Karnataka.

Brahmaputra Infrastructure added 2.11% after the company received a letter of acceptance (LoA) from the Office of the Chief Engineer, PWD (R&B), Jammu, for balance work related to the construction of the new Legislature Complex at Jammu.

Highway Infrastructure rose 0.02%. The company announced that it has entered into a contract agreement worth Rs 328.77 crore with the National Highways Authority of India (NHAI).

Ravindra Energy fell 1.51%. The company has received 13 letter of award (LOA) from Hubli Electricity Supply Company (HESCOM) for setting up aggregate capacity of 62 MW(AC) solar power generators (SPGs) project in Karnataka.

Indo Tech Transformers fell 2.21%. The company announced that it has secured an order worth Rs 64.99 crore from ReNew Wind Energy (Jamb) for the manufacture and supply of six 220 kV'165 MVA transformers.

Power Mech Projects shed 0.35%. The company's wholly owned subsidiary, PM Green, secured an order worth Rs 3,126 crore from West Bengal State Electricity Distribution Company (WBSEDCL).

Global Markets:

European shares traded higher on Friday as investors assessed evolving economic cues and rising social pressures across the region.

Asian markets ended higher as investors digested China inflation data, with consumer prices rising 0.8% year-on-year in December, according to figures released by the National Bureau of Statistics, following a 0.7% increase in November.

In the U.S., investors are awaiting two key catalysts on Friday. First, the Supreme Court could issue a ruling on the legality of President Donald Trump's tariffs, which could have an impact on trade policy and the nation's fiscal situation. Second, the December jobs report will be out on Friday morning.

Overnight in the U.S., the Dow Jones Industrial Average rose while the Nasdaq Composite came under pressure as investors moved away from technology stocks. The Dow Jones Industrial Average climbed 270.03 points, or 0.55%, and ended at 49,266.11; the S&P 500 advanced 0.01% and closed at 6,921.46, while The tech-heavy Nasdaq dropped 0.44% and settled at 23,480.02

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