At 1:30 ST, the barometer index, the S&P BSE Sensex, declined 596.05 points or 0.71% to 83,584.91. The Nifty 50 index dropped 185.60 points or 0.72% to 25,688.65.

In the broader market, the S&P BSE Mid-Cap index fell 0.63% and the S&P BSE Small-Cap index shed 1.23%.

The market breadth was weak. On the BSE, 1,059 shares rose and 2,955 shares fell. A total of 182 shares were unchanged.

Gainers & Losers:

Asian Paints (up 2%), Bharat Electronics (up 1.14%), Oil & Natural Gas Corporation (up 1.11%), HCL Technologies (up 1.07%) and ETERNAL (up 0.35%) were the major Nifty50 gainers.

NTPC (down 2.73%), ICICI Bank (down 2.09%), Adani Enterprises (down 2.10%), Bajaj Auto (down 1.72%) and Sun Pharmaceutical Industries (down 1.45%) were the major Nifty50 losers.

IPO Update:

The initial public offer (IPO) of Bharat Coking Coal received bids for 1,88,18,40,600 shares as against 34,69,46,500 shares on offer, according to stock exchange data at 13:40 IST on Friday (9 January 2026). The issue was subscribed 5.42 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.

Stocks in Spotlight:

Elecon Engineering Company dropped 15.56% to Rs 441.80 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.

Waaree Renewable Technologies declined 3.27% after the company announced reduction of the capacity and the corresponding contract value of a previously received commercial order from its subsidiary, Waaree Forever Energies (WFEPL).

Power grid Corporation of India shed 0.40%. 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 0.48%. 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 rallied 2.23% after the company announced that it has entered into a contract agreement worth Rs 328.77 crore with the National Highways Authority of India (NHAI).

Global Markets:

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

Asian markets traded mixed, even as China's consumer prices rose 0.8% year-on-year, according to data from 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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