Indian equities opened Friday’s session broadly flat, with benchmark indices oscillating near unchanged levels as investors weighed foreign outflows against steady domestic institutional support. Early trade reflected consolidation rather than directional conviction.
Foreign selling offsets local demand
Continued foreign portfolio outflows limited upside momentum, even as domestic funds provided a stabilising counterbalance. This dynamic kept index movements narrow during the opening phase.
Sector performance mixed
Information technology stocks showed relative resilience, supported by currency dynamics and overseas revenue exposure. Financials lagged modestly, while consumer and industrial names traded with limited direction.
Mid-caps show selective strength
Mid-cap and small-cap stocks attracted targeted interest, particularly in companies with strong earnings visibility. However, broader participation remained restrained amid valuation sensitivity.
Macro and policy focus intensifies
Investor attention remains fixed on upcoming fiscal signals and economic data releases. Expectations around public spending priorities and deficit management continue to shape near-term positioning.
Market tone remains disciplined
The flat opening underscored a market focused on fundamentals rather than momentum. Analysts highlighted that while structural growth prospects remain intact, short-term performance will depend on flow stability and earnings execution.
Newshub Editorial in Asia – 23 January 2026
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