Indian equity markets are set for a subdued start on Friday, January 9, 2026, amid mixed global cues, continued foreign investor selling and a busy day on the earnings and IPO front. Early signals from GIFT Nifty and overnight global market moves point to a cautious opening for benchmark indices.
At 06:35 AM, GIFT Nifty futures were trading 22 points higher at 26,007, indicating a muted start for the Sensex and Nifty. Asian markets were mixed as investors awaited key economic data. Japan’s Nikkei 225 rose 0.54%, South Korea’s Kospi fell 0.41%, while Australia’s S&P/ASX 200 hovered just below the flatline. China’s December inflation data, due later in the day, remains a key trigger for regional markets.
Overnight in the US, Wall Street ended mixed. The Dow Jones Industrial Average rose 0.55% as investors rotated away from technology stocks, while the Nasdaq Composite slipped 0.44%. The S&P 500 closed marginally higher, up 0.01%. US equity futures were largely flat in early Asian hours.
Back home, institutional activity remained a drag on sentiment. Foreign institutional investors (FIIs) sold shares worth ₹2,544.47 crore on January 8, while domestic institutional investors (DIIs) bought equities worth ₹2,817.93 crore, offering partial support to the market.
Earnings will be a key focus during the session, with several companies set to announce their Q3 FY26 results today. These include Indian Renewable Energy Development Agency (IREDA), Tejas Networks, Globus Spirits, G G Engineering, Triton Corp, and Ladam Affordable Housing. Stock-specific action is expected as investors react to quarterly numbers and management commentary.
The primary market will also be in focus as the Bharat Coking Coal IPO opens for public subscription today. The ₹1,071.11 crore mainline issue is entirely an offer for sale comprising 465.7 million shares. In the SME segment, Defrail Technologies IPO opens today, while Victory Electric Vehicles International IPO and Yajur Fibers IPO enter the final day of subscription. Gabion Technologies India IPO will see the basis of allotment of its shares.
In commodities, oil prices edged higher. Brent crude rose 3.39% to $61.99 per barrel, while US WTI crude gained 0.87% to $58.26 per barrel. Market participants are also tracking global developments, including the pending US Supreme Court ruling on the legality of President Donald Trump’s global tariffs.
With global data releases, Q3 earnings, IPO activity and foreign fund flows all converging, Indian markets are likely to remain range-bound, with stock-specific triggers driving action through the day.
