📊 Market Outlook – 8 January 2026

Flat to Mildly Negative Start; Stock-Specific Action Likely Indian equity markets are expected to open flat to mildly negative, tracking weak global cues, even as domestic macro fundamentals remain supportive. Gift Nifty indicates a decline of around 0.2%, while global markets in the US, Europe, and Asia ended lower after mixed US economic data and signs of softness in employment numbers. Despite short-term volatility, India’s strong macro outlook continues to differentiate it from global peers. 🇮🇳 Key Macro Highlights India FY26 GDP growth projected at 7.4%, up from 6.5% in FY25 Growth driven by: Robust domestic consumption Supportive policy measures like GST rationalisation Favourable monsoon expectations Crude oil prices below $60 per barrel, easing inflation concerns These factors should provide downside support to the market. 🌍 Global Market Cues US Markets US indices declined from record highs Weak employment data offset better-than-expected Services PMI Dollar Index surged to a 1-month high above 98, pressuring commodities Market still pricing in at least two Fed rate cuts in 2026 European Markets Mixed performance: Germany strong on higher retail sales UK and France ended marginally lower Asian Markets Asian equities edged lower for the second consecutive session Profit booking seen after recent rallies 🛢️ Commodity Update Gold & Silver declined sharply due to stronger Dollar Index Base metals cooled off after recent record highs Brent crude slipped below $60/bbl amid global supply concerns 📌 Sector-Wise Outlook 💎 Gem & Jewelry Positive momentum expected after strong quarterly business updates across the sector. 💻 Information Technology Positive bias on expectations of healthy Q3 earnings and increased enterprise tech spending. 💊 Pharmaceuticals Positive outlook supported by regulatory approvals and stable demand outlook. 🏗️ Metals Positive sentiment after China signaled liquidity support through future rate and RRR cuts. 🏨 Hospitality Positive outlook driven by strong occupancy trends and rising strategic investor interest. ⚡ Power & Renewables Positive on commissioning updates, capacity additions, and long-term clean energy push. 🏦 Insurance & Financial Services Positive momentum continues on strong premium growth and improving penetration. 📈 Technical View Nifty 50 Formation: Doji candle; lower highs and lower lows in last two sessions Resistance: 26,150 → 26,250 → 26,350 Support: 26,050 → 25,950 Options data suggests a broader range of 25,700 – 26,600 Bank Nifty Support seen at lower levels with long lower shadow formation Resistance: 60,000 → 60,250 → 60,437 Support: 59,750 → 59,500 📊 Derivatives & Flow Data (Summary) Put/Call Ratio declined, indicating cautious sentiment FIIs: Net sellers in cash market Long unwinding in index futures DIIs: Continued net buying, providing stability 🧭 Market Strategy for the Day Expect range-bound trade with volatility Stock- and sector-specific opportunities likely Mid- and small-cap segments may continue to outperform selectively Traders should remain cautious near resistance levels ⚠️ Disclaimer This content is for educational and informational purposes only. We are not SEBI registered. This is not investment advice or a recommendation to buy or sell any security. Stock market investments are subject to market risks. Please consult your financial advisor before taking any investment decisions.