Sensex Today | Stock Market Highlights: Nifty ends below 24,200 as banks weigh

That’s all from CNBCTV18.com‘s live market coverage on January 8, 2026.

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Amit Gupta, Head Equities, PMS Motilal Oswal Private Wealth

“If you look at this particular quarter’s results, there will not be much encouragement for these companies because, in terms of growth, it will be down. In fact, I think it will be one of the lowest if you look at the NBFCs. But the stocks also declined before that, and that is where the valuations now are attractive. The market is looking beyond Q4 FY26 numbers now in these companies. As you rightly said, I think electricity demand for FY27 is likely to be around 5%, whereas it was only 1% in FY26. So in FY27, there will be higher demand because, there may be a number of factors. First of all, the base was low. And then the other factor may be more heat, a widening of summer, and maybe a lesser monsoon than expected. I think this can all result in this particular bump-up in electricity demand. This is where, if you have to take an opinion on these companies, you have to take a slightly longer view rather than only focusing on quarterly results.”

Deven Choksey, MD, DRChoksey Finserv Private Limited

“HDFC AMC has reported perfect numbers, I think, more or less in line with what one expected from the company on the operating side. Even though, on a quarter-on-quarter basis, there is some amount of subdued performance as compared to the year-on-year basis, but the AUM growth remains quite resilient. It’s around 24–25% kind of growth. So, if you just ignore the quarterly issue because of the current situation, I guess the numbers are pretty much in line. The balance sheet impact of other income is probably the resultant effect of this particular aftermarket provisioning, and as a result of which we are seeing some amount of net profit impact. But ignore that part. I guess around 81% is the margin that they will continue to maintain, which I believe remains very strong. Probably even the ₹54 per share dividend that has come along with it already suggests that, at the operating level, the company is having a sufficient amount of cash flows to distribute as well. So, remain positive. In fact, the current correction in the price could be a buying opportunity at lower levels.”

Rupee Ends At 93.20/$ Against Wednesday’s Close Of 93.37/$

Amit Gupta, Head Equities, PMS Motilal Oswal Private Wealth

Expect Higher Electricity Demand In FY27

Investors Need To Have A Longer View On Power Cos

Renewable Energy Bound To Get A Big Push In India

Expect Power Cos To See Significant Margin Expansion And Improved Topline Growth

Expect AC Sales & Elec Demand To Go Up Significantly If We See Longer & More Intense Summer This Yr

BPCL Says Cos JV In Brazil To Invest $2.8 Billionn For Oil & Gas Production

Sacchitanand Uttekar, VP- Research (Derivatives & Technicals), Tradebulls

Buy ITC with a stop loss of ₹300 and a target of ₹316Buy PNB Housing Finance with a stop loss of ₹888 and a target of ₹920

The trend has been very strong, they have been relative outperformers. In fact, when the market was in non-trending to a bearish zone, these stocks continued to do well. So even here, both the stocks are trending in their life,high zone and we don’t have any signs of divergence in strength. So, we are expecting that this particular rally will continue especially when we look at the stock like Hindalco, there is visibility that this particular stock will cross ₹1,100 levels in the weeks forward. So even at this juncture, keeping a stop loss at ₹1,000, one should continue to accumulate it for immediate swing towards ₹1,100.

Somil Mehta, Head Retail Research at Mirae Asset Sharekhan

Buy Fortis Healthcare with a stop loss of ₹826 and a target of ₹930Buy Power Grid with a stop loss of ₹295 and a target of ₹350

Pernod Ricard Reports Earnings For Q3

India Outperforms All The Other Regions

India Biz Q3 Organic Net Sales Up 11%, YTD Sales Up 6%

India Biz Reports Growth Vs Decline In US & China

Ashok Leyland Says It May Look At Exporting Smaller CNG LCVs To Nigeria

Hindustan Aeronautics Ltd – up 2%

CITI on HAL:

Buy, TP Rs 5560

HAL & GE Aerospace reached an agreement on technical matters for the co-production of F414 engines in India.

DCM Shriram To Transfer 50% Equity Stake In Shriram Polytech To Teknor Apex For $5.6 million.

Top losers –

Shares of HDFC Asset Management Company Ltd fell from the day’s highs after the company announced its Q4 earnings results.

The stock is currently trading 1.76% down at ₹2,616.90.

HDFC AMC Q4

Net Profit at ₹623.3 crore Vs CNBC-TV18 Poll Of ₹644 crore

Revenue at ₹1,051 crore Vs CNBC-TV18 Poll of ₹1,056 crore

Net Profit down 19% at ₹623.3 crore from ₹769 crore (QoQ)

Revenue down 2.2% at ₹1,051 crore from ₹1,075 crore (QoQ)

Traffic at GMR Airports up 0.9% at ~32 million in Q4 FY26 (YoY)

Domestic Traffic up 1.6% at 24.1 million (YoY)

International Traffic down 1.3% at 7.7 million (YoY)

Zydus Life Gets Establishment Inspection Report (EIR) For Oncology Injectable Manufacturing Facility In SEZ1, Ahmedabad

The Nifty Bank index has now slipped below the 56,000 mark, and is down over 800 points from the highs of the day.

The sell-off in the Nifty Bank has taken the Nifty below the 24,150 mark as well, down well over 250 points from the highs this morning.

– Geopolitics is driving focus on energy security

– Expect India’s renewable energy capacity to reach 359 GW by FY25-30

– El-nino conditions could add to upside

– JSW Energy and NTPC are top picks within the power space

– Premier & Emmvee with strong balance sheets & healthy order books are preferred PV picks

– Top loser on the Nifty 500

– Biggest single-day fall in a month

– 10 lakh shares traded Vs 20-day average of 3.5 lakh

– Stock below 50-DMA, 100-DMA at ₹1,518

– Stock down 12% from recent 52-week high

– HDFC Bank is contributing 33 points to the Nifty downside

– Reliance Industries is contributing 14 points to the downside

– Bharti Airtel is contributing 13 points to the Nifty downside

– Titan, M&M and Sun Pharma are contributing 5 points to 6 points each

The Nifty 50 index has now slipped below the mark of 24,200.

From its intraday high of 24,400 the index has now slipped nearly 250 points.

The index is now down to levels of 24,150.

The Nifty Bank has cooled off over 600 points from the highs of the day, turning negative.

The Nifty Bank index is the biggest contributor to the Nifty giving up all of its gains on Thursday.

The Nifty Bank has again found resistance at the 56,800 mark.