So, you’re looking at the screens today, January 17, 2026, and wondering why things feel a bit quiet but weirdly tense at the same time. Honestly, the share market India today is in that classic "wait-and-watch" Saturday mode, but the dust hasn't even settled from Friday's chaotic closing.
Yesterday was a trip. The Nifty 50 and Sensex actually managed to pull off a green finish, which felt like a minor miracle after the two-day losing streak we just suffered. The Sensex climbed about 188 points to end at 83,570, while the Nifty stayed just under that 25,700 psychological mark, closing at 25,694. But numbers don't tell the whole story. If you looked at the intraday charts, you’d see a massive 750-point spike in the Sensex during the morning that basically evaporated by the time the closing bell rang.
The IT Rally That Almost Saved the Week
Infosys is the name on everyone’s lips right now. They dropped their Q3 results, and even though net profit was down a bit—partly thanks to those new labor code adjustments that cost them ₹1,289 crore—the market loved their revenue guidance. They bumped it up to 3%-3.5%. Investors saw that and went into a bit of a frenzy.
Infosys shares surged over 5%, dragging the rest of the IT pack with them. Tech Mahindra and Wipro weren't far behind. Basically, if you were holding tech yesterday, you were smiling. But the gains were capped because people started booking profits the second things looked too good to be true.
Why Everyone Is Nervous About February 1
Here is the big news that actually matters for your weekend planning: the exchanges (BSE and NSE) just confirmed they are holding a special live trading session on Sunday, February 1, 2026.
Why? Because that’s Budget Day. Usually, the market is closed on Sundays, but when Nirmala Sitharaman stands up to present the Union Budget, Dalal Street wants to be open for business. Expect high volatility. Traders are already positioning themselves, and the "lottery investment" mentality for IPOs is still very much alive, even if the secondary market feels a bit sluggish.
The Global Elephant in the Room
It’s not just about what’s happening in Mumbai. We’ve got some serious geopolitical drama weighing on the share market India today. Have you been following the stuff with the "Russian Act" and those 500% tariff threats from the US?
There is a lot of anxiety about how India's trade deals with the US and the EU will play out. Commerce Secretary Rajesh Agrawal says we’re "very near" to a deal, but the market is cynical. We’ve heard that before. Until a pen hits paper, export-oriented sectors like Pharma are going to stay under pressure. Speaking of Pharma, Cipla and Sun Pharma were among the top losers yesterday. People are rotating money out of defensive healthcare and back into high-growth tech and PSU banks.
A Quick Look at the Winners and Losers
- Top Gainers: Infosys led the charge, followed by Tech Mahindra and Shriram Finance. Even Tata Motors saw some love.
- The Laggards: Eternal (which you probably still call Zomato) took a 3.7% hit. Jio Financial and Cipla also struggled to find any buyers.
- Sector Watch: PSU Banks are on a five-day winning streak. It's kinda wild how resilient they've been while everything else feels shaky.
Is the 2026 Rally Finally Here?
A lot of experts, like Nilesh Shah from Kotak, are saying 2026 will be a "year of moderation." We aren't in that 2021-style moon mission anymore. We’re looking at mid-single-digit growth for the economy, though earnings might bounce back to double digits later this year.
The first half of 2026 is likely to stay range-bound. Foreign Institutional Investors (FIIs) are still dumping stocks—they sold nearly ₹4,800 crore on Wednesday alone. Thankfully, Domestic Institutional Investors (DIIs) are keeping the floor from falling out by buying almost the exact same amount. It's a tug-of-war. You've got the big global funds leaving and your local SIP money trying to hold the line.
Your Move for the Week Ahead
If you’re looking for actionable steps, don't get blinded by the IT rally. It was a reaction to one company's guidance, not necessarily a shift in the entire economy's DNA.
- Watch the Budget Build-up: Start looking at sectors that usually benefit from government capex. Since the exchanges are open on Feb 1, the week leading up to it will be noisy.
- Monitor the Rupee: With the USD/INR hovering around 90.68, companies with high import costs are going to feel the squeeze.
- Check the HDFC Bank Earnings: They have an earnings call today, January 17. Since they are a massive heavyweight, whatever they say about their margins will dictate how the Nifty opens on Monday morning.
The market is currently a "stock picker's market." Buying the index and hoping for the best might not work as well as it did two years ago. Focus on companies with clean balance sheets and actual earnings growth rather than just "vibes" or IPO hype.
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Keep an eye on the US-India trade talks next week. If we get a sniff of a tariff waiver, the sectors that got hammered yesterday—like Metals and Pharma—might suddenly become the new favorites. For now, enjoy the weekend, but keep one eye on those HDFC numbers.