Honestly, if you looked at the screen on Friday, January 16, 2026, you might’ve done a double-take. For a second, it felt like the old days of the tech boom. The Nifty 50 ended up closing at 25,694.35, which doesn't look like much—just a tiny 0.11% gain. But that number is a massive liar. Beneath the surface, the India stock market news was dominated by a ferocious tug-of-war between a soaring IT sector and a dragging metal and FMCG pack.
While the Sensex managed to pop up by 187 points to hit 83,570, the real story was the "Infosys Effect."
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The Infosys Spark and the IT Comeback
Everyone was waiting for the Q3 FY26 earnings, and Infosys basically set the house on fire in the best way possible. They raised their revenue guidance to 3%–3.5%, and the market loved it. Their stock price jumped over 5%, dragging the rest of the Nifty IT index up by nearly 3% with it.
Think about that for a second.
One company’s outlook shifted the sentiment for the entire technology floor. Tech Mahindra wasn't far behind, gaining over 5.2%. It’s kinda wild because the actual net profit for Infosys dipped slightly to ₹6,654 crore due to some one-time labor code adjustments. But investors don't care about the past right now; they are obsessed with the $1.8 billion in large deals the company bagged this quarter.
- Infosys (INFY): Surged to ₹1,689, leading the charge.
- Tech Mahindra: Followed closely with a 5.26% jump.
- Wipro & HCL Tech: Both saw solid buying interest, gaining 2.5% and 2.4% respectively.
It wasn't all sunshine, though. While IT was partying, Eternal (the company formerly known as Zomato) took a 3.7% hit. Jio Financial Services also felt the heat, dropping over 3% after its profit took a 9% year-on-year dip. You’ve got this weird divergence where the "new age" tech is struggling with profitability while the "legacy" IT firms are proving they still have plenty of juice.
Why the Broader Market is Feeling Heavy
There is a lot of "risk-off" sentiment creeping in from the edges. You’ve probably seen the headlines about Venezuela or the trade talks with the US. It makes people nervous. Foreign Institutional Investors (FIIs) have been dumping shares like they’re going out of style—selling over ₹4,781 crore on Wednesday alone.
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Thank god for the Domestic Institutional Investors (DIIs). They’ve been the absolute backbone lately, pumping in ₹5,217 crore to keep the floor from falling out. Without that domestic SIP money, we’d likely be looking at a very different Nifty right now.
The Metal and FMCG Drag
Metal stocks are hurting. Hindalco dropped 2.44% today, and it’s part of a larger trend where global commodity prices are just... messy. Then you have Asian Paints, a classic "safe" stock, falling 2.03%. When the paints and soaps start dropping, it usually means the market is worried about the average person’s spending power.
Corporate Giants and the Q3 Reality Check
Reliance Industries (RIL) released their numbers after the bell on Friday, and they were... fine. Just fine. Net profit rose a tiny 0.56% to ₹18,645 crore. It’s not the kind of growth that makes you jump for joy, but Jio is still a beast. Their 5G user base has crossed 250 million. That is half of their wireless data traffic moving on 5G now.
If you're looking for the winners in this earnings season, look at the financial platforms. ICICI Prudential AMC saw their profit skyrocket by 45%. HDB Financial Services jumped 36%. Basically, if the company makes money by helping other people manage their money, they are winning right now.
What’s Happening With the "Small" Guys?
The small-cap and mid-cap space is a bit of a minefield. The BSE SmallCap index ended the day down 0.5%. We are seeing a lot of "profit booking," which is just a fancy way of saying people are getting scared and taking their cash off the table.
What This Means for Your Portfolio
So, where does this leave us? The market is in a "wait and watch" mode. We have the Union Budget coming up on February 1, and that is the next big catalyst. Everyone is looking for GST 2.0 updates and more capex spending.
If you’re holding IT stocks, you’re probably feeling pretty good right now. But don't get too comfortable. Analysts from BofA Securities are saying that 2026 will be a year of "earnings delivery," not just hype. In other words, companies actually have to make money to keep their stock prices up. The days of "it might grow one day" are over.
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Practical Next Steps for Investors:
- Watch the 25,500 Level: This is the immediate support for the Nifty. If it breaks below this, things could get ugly fast.
- Focus on Large Caps: With FIIs selling, the big, stable companies (like the IT majors or HDFC Bank) are likely to be safer than speculative small-caps.
- Check Your Exposure to "Rate Sensitives": If the Fed or the RBI hints at staying higher for longer on interest rates, sectors like Real Estate and Auto might see more pressure.
- Earnings over Momentum: Look for companies like Zen Technologies (which just bagged a ₹404 crore defense order) that have actual, physical orders on the books rather than just "potential."
The India stock market news today proves one thing: the market isn't a monolith. It’s a collection of stories. Right now, the story is about a tech industry that refused to stay down and a retail investor base that is finally strong enough to stand up to the big foreign funds.