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Informist, Thursday, Jan. 8, 2026

By Arundathi A R

MUMBAI – The Nifty 50 index fell 1% Thursday amid reports that US President Donald Trump has supported a bill, which may give powers to put tariffs of up to 500% on countries buying Russian oil, including India and China. The headline equity indices ended lower for the fourth straight session, down nearly 2% during this period.

The Nifty 50 settled at 25876.85 points, down 263.90 points. The index closed below 26000 points for the first time in seven sessions. The BSE Sensex closed at 84180.96 points, down 780.18 points or 0.9%. Most of the Nifty 50 constituents ended the session lower, with only four of them ending in the green. 

Metal companies were the major losers in the 50-stock index as investors booked profit amid tariff concerns. Hindalco Industries was the worst hit in the Nifty 50 index and ended the session nearly 4% lower. Hindustan Zinc closed over 6% lower and Jindal Steel ended 6% lower. The Nifty Metal index closed over 3% lower, with all its constituents ending in the red.

All the sectoral indices closed 0.3-3.4% lower. In the broader market, all the midcap and smallcap indices ended in the red, down almsot 2%. India VIX, the fear gauge of Dalal Street, closed nearly 7% higher.

US President Donald Trump has approved the bipartisan Russian Sanctions Bill that gives authority to the president to penalise Russia'a trading partners over their purchase of Rusiian oil. The bipartisan legislation, penned by Lindsey Graham and Richard Blumenthal, would require the US to impose a 500% tariff on all goods imported from any country that continues to purchase Russian oil, petroleum products or uranium. Graham said that the bill would give President Trump "tremendous leverage against countries like China, India and Brazil" to incentivise them to stop buying the cheap Russian oil that "provides the financing for Putin's bloodbath against Ukraine".

Shares of capital goods companies ended lower amid a Reuters report claiming that India's finance ministry planned to scrap five-year-old restrictions on Chinese companies bidding for government contracts. "Officials are working to remove the registration requirement for bidders from bordering nations," the report said quoting a source. Bharat Heavy Electricals ended over 10% lower and Larsen and Toubro ended 3% lower.

Major pharmaceutical and healthcare companies such as Dr. Reddy's Laboratories, Max Healthcare Institute, and Apollo Hospitals closed 0.5-3.0% lower. These stocks fell after brokerage Jefferies said pharmaceutical companies with exposure to Revlimid were likely see a weak performance in the first half of 2026.

Eternal was the top gainer in the Nifty 50, closing almost 1% higher. Banks and financial services such as ICICI Bank, Bajaj Finance, and SBI Life Insurance Co. were the other gainers in the 50-stock index, up 0.3-1.0%. Shares of IDFC First Bank closed almost 2% higher after media reports claimed the lender reduced interest rates on savings account deposits across several balance slabs, effective Friday. 

Shares of Indus Towers closed marginally higher after ending lower for the previous three sessions. Broking firm Jefferies has raised the target price of telecommunications infrastructure company by 20% to INR 510. Jefferies expects the potential adjusted gross revenue relief from the government to boost growth of Indus Towers and trigger valuation re-rating in its stock. 

* Of the Nifty 50 stocks, 4 rose and 45 fell, and 1 unchanged

* Of the Sensex stocks, 4 rose and 26 fell

* On the NSE, 545 stocks rose, 2,625 fell, and 77 were unchanged

* On the BSE, 1,039 stocks rose, 3,158 fell, and 170 were unchanged

* Nifty Metal: down 3.4%; Nifty Energy: down 2.9%; Nifty Oil & Gas: down 2.8%

BSE                                              NSE

Sensex: 84180.96, down 780.18 points or 0.9%     Nifty 50: 25876.85, down 263.90 points or 1%

End

US$1 = INR 90.02

Edited by Akul Nishant Akhoury

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