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Informist, Friday, Jan. 9, 2026

 

By Arundathi A R

 

MUMBAI – Analysts expect selling pressure to persist in the equity markets in the near term amid uncertainty about US tariffs on countries importing Russian oil. US President Donald Trump Thursday approved a bipartisan bill that gives the president sweeping authority to penalise Russia's trading partners, including India, for purchasing oil. However, the December-quarter earnings are expected to provide relief to the market, analysts said. Banking stocks are likely to perform well in the December quarter, especially private-sector banks, they said.

 

"When we look at the actual performance of the banking stocks, private sector banks performed well while bigger ones such as Kotak Mahindra Bank, ICICI Bank, and HDFC Bank underperformed," Rohit Srivastava, market strategist and founder of Indiacharts, said. According to him, banks such as IDFC First Bank and AU Small Finance Bank performed better in the December quarter. He sees a 15% return in 2026, based on expectations of further interest rate cuts.

BNP Paribas also expects private-sector banks, along with automobiles and consumer staples, to be well positioned for strong earnings growth in 2026–27 (Apr-Mar), Business Standard reported. It expects the Nifty 50 index to end 2026 at 29500 points, the report said.

 

On Friday, the Nifty 50 index ended at 25683.30 points, down 193.55 points or 0.8%. The BSE Sensex closed at 83576.24 points, down 604.72 points or 0.7%. Analysts pegged resistance for the Nifty 50 at 25900–26000 points and support at 25570 points. "The broader markets have also corrected with market breadth largely favouring the declines," Ruchit Jain, head of technical research at Motilal Oswal, said.

 

Broking firm HDFC Securities Institutional Equities expects moderate revenue growth in the pharmaceutical and health sector in the December quarter, with earnings before interest, tax, depreciation, and amortisation margins remaining flat. The brokerage expects pharmaceutical and healthcare companies to report 11% on-year revenue growth in the reporting quarter and 10?ITDA growth.

 

Broking firm Prabhudas Lilladher expects capital goods companies Bharat Heavy Electricals and Larsen & Toubro to face increased competitive pressure amid reports that the government is considering rolling back the procurement restriction on Chinese companies bidding for government contracts. Competitive pressure is expected in these companies' boiler, turbine, and generator segments, the brokerage said in an event update note.

 

Elara Capital expects aluminium prices to increase due to lower supply. It also sees a production cap in China, which will increase aluminium prices and help the aluminium companies to outperform steel companies in the December quarter.

 

Market participants will also closely watch the December Consumer Price Index, scheduled for release on Monday. On the global front, investors will track US nonfarm payrolls and unemployment data for December, scheduled for release on Friday. Further, the US Supreme Court is expected to issue its ruling on the legality of tariffs Friday, media reports said.  End

 

Edited by Saji George Titus

 

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