Indian Equities Rebound as Global Risk Appetite Improves

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

iStock.com

By Dehuti Jani

Dehuti Jani is an experienced project manager who also works as an independent financial journalist.

January 22, 2026 at 11:33 AM IST

Indian equity benchmarks rebounded sharply on Thursday, snapping a three-day losing streak, as easing geopolitical tensions and a global risk-on mood lifted investor sentiment. Markets tracked a rally in global equities after US President Donald Trump walked back threats of tariffs on European nations and ruled out the use of force to seize Greenland, while also flagging progress toward a trade framework with NATO and a “great” potential trade deal with India. The NSE Nifty 50 rose 0.53% to close at 25,289.90, while the BSE Sensex added 0.49% to end at 82,307.37.

Buying was broad-based, with 15 of 16 major sectors finishing higher. PSU banks and media stocks led gains, rising over 2% each, while realty and consumer durables were the only sectoral laggards. In the broader market, the Nifty MidCap 100 climbed 1.34% and the Nifty SmallCap index advanced 0.76%. On the Sensex, Adani Ports, BEL, SBI and Tata Steel were among the top gainers, while Eternal, Titan, Maruti Suzuki and ICICI Bank underperformed.

Top Movers of the Day

State Bank of India (SBI) hit a fresh all-time high, rising around 3% on expectations of strong quarterly earnings.

Bank of India surged 7% to an eight-year high after reporting a steady performance.

PNB Housing Finance slipped nearly 8% after its earnings missed Street estimates.

UTI Asset Management Company gained over 2% after reporting in-line results, with analysts maintaining a positive outlook.

Computer Age Management Services gained strongly after reporting its results and announcing a dividend payout.

CreditAccess Grameen jumped 11% to a 52-week high, extending gains for a second session after strong operational performance in Q3FY26.

APL Apollo Tubes rose over 4% after the company reported a 43% YoY jump in earnings, marking its biggest intraday gain since June.

Jindal Stainless climbed over 4% after reporting a 26.6% YoY rise in consolidated net profit for .

Waaree Energies surged about 11% after posting strong results, with profit and revenue more than doubling year-on-year.

Epack Prefab Technologies hit a 10% lower circuit after reporting a sequential decline in net profit for Oct-Dec.

Supreme Industries climbed around 3% after reporting steady performance, outperforming the broader market.

Cupid surged nearly 8% after announcing a strategic investment in value retail chain Baazar Style Retail.

Eternal advanced 7.5% following its Oct-Dec results and the resignation of founder Deepinder Goyal as CEO, with heavy trading volumes seen in the stock.

eClerx Services rose about 7% after the company announced it would consider a bonus issue at its board meeting later this month.

Futures & Options
Nifty January 2026 futures settled at 25,375, trading at a premium of 85.1 points over the cash Nifty, after the Nifty 50 rose 132.40 points or 0.53% to close at 25,289.90, reflecting improved risk sentiment. The India VIX declined 3.12% to 13.35, indicating easing volatility, while HDFC Bank, Eternal and Reliance Industries were the most actively traded stock futures in the F&O segment. The January 2026 derivative contracts are scheduled to expire on 27 January 2026.

Bonds
Government bond yields eased to around 6.63%, retreating to a one-week low, as expectations of continued Reserve Bank of India support in the secondary market, along with softer US Treasury yields, buoyed sentiment. The benchmark 6.48% 2035 bond yield closed at 6.6362%, down from 6.6536% on Wednesday, extending its decline for a second straight session. Traders noted that despite firmer demand, the market continues to lean on RBI intervention to anchor yields.

Forex
The rupee snapped its six-day losing streak on Thursday, ending marginally higher as risk appetite improved after US President Donald Trump stepped back from tariff threats against Europe linked to Greenland. The rupee opened firmer but pared gains after failing to breach the 91.50-per-dollar level, eventually closing at 91.63, above Wednesday’s record low of 91.7425.

Crypto
Crypto markets capitalisation rose 0.94% over the past 24 hours to $3.04 trillion, according to CoinMarketCap. Bitcoin traded in a range of $87,264–$90,574 and was last seen at $89,993, up 0.65% as of 09:30 AM UTC, while Ethereum slipped below the $3,000 mark but still posted a modest 0.9% gain over the past day, trading near $2,997, reflecting cautious optimism amid ongoing consolidation.

US Stock Futures
US stock futures advanced on Thursday, extending gains after a sharp rally as President Donald Trump called off threatened tariffs and signalled a potential deal on Greenland, easing trade-related anxiety. Dow Jones futures rose about 0.4%, S&P 500 futures gained 0.6%, while Nasdaq 100 futures outperformed with a 0.9% rise.

US Treasury Notes
US Treasury yields were mixed on Thursday, as investors reacted to easing geopolitical tensions and recalibrated expectations for Federal Reserve policy. The benchmark 10-year Treasury yield hovered around 4.241%, easing from recent five-month highs near 4.29%. The pullback followed a more conciliatory tone from President Donald Trump on trade and the potential acquisition of Greenland, which helped cool geopolitical risks and encouraged a modest risk-on shift across global markets.

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