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In the week ended on Friday, 23 January 2026, the S&P BSE Sensex tumbled 2,032.65 points or 2.43% to settle at 81,537.70. The Nifty 50 index dropped 645.70 points or 2.51% to settle at 25,048.65. The BSE Mid-Cap index fell 4.20% to close at 44,246.27. The BSE Small-Cap slumped 5.79% to end at 46,825.31.
The rupee hit a fresh record low of 91.99 against the US dollar in intraday trade on Friday, pressured by weak global cues and persistent dollar demand.
Weekly Index Movement:
Equity benchmarks closed lower on Monday as investor sentiment turned cautious amid renewed global trade tensions and disappointing earnings from index heavyweights. The S&P BSE Sensex tanked 324.17 points or 0.39% to 83,246.18. The Nifty 50 index declined 108.85 points or 0.42% to 25,585.50.
Benchmark equity indices closed sharply lower on Tuesday, with the Nifty slipping below the 25,250 level as selling pressure intensified across the board. The S&P BSE Sensex tumbled 1,065.71 points or 1.28% to 82,180.47. The Nifty 50 index dropped 353 points or 1.38% to 25,232.50.
Domestic equities extended losses for a third straight session on Wednesday as global shocks and weak earnings hit risk appetite. The S&P BSE Sensex dropped 270.84 points or 0.33% to 81,909.63. The Nifty 50 index lost 75 points or 0.30% to 25,157.50. In three trading sessions, the Sensex slipped 1.99% while the Nifty declined 2.09%.
Domestic equities rebounded on Thursday after three consecutive sessions of losses, snapping the recent decline and restoring some investor confidence. The S&P BSE Sensex jumped 397.74 points or 0.49% to 82,307.37. The Nifty 50 index rose 132.40 points or 0.53% to 25,289.90. In the previous three sessions, the Sensex slipped 1.99% while the Nifty declined 2.09%.
The key equity benchmarks ended with major cuts on Friday, breaking a three-day losing streak as sentiment remained cautious with investors tracking global cues and awaiting further clarity on domestic triggers, keeping market moves range-bound. The S&P BSE Sensex, tumbled 769.67 points or 0.94% to 81,537.70. The Nifty 50 index lost 241.25 points or 0.95% to 25,048.65.
World economic Forum:
Maharashtra Chief Minister Devendra Fadnavis said Tata Sons has committed $11 billion to develop the proposed innovation city. While the location has been identified and broad contours finalized, the state expects the planning phase to take another six to eight months before execution begins.
Britain will not sign US President Donald Trump’s proposed Board of Peace treaty on Thursday, Foreign Secretary Yvette Cooper said, citing concerns over Russia’s potential involvement in the initiative aimed at resolving global conflicts. She said the UK would not be among the signatories, as the legal treaty raises broader issues and because of concerns over President Vladimir Putin’s role in a peace initiative.
At the 56th World Economic Forum (WEF) annual meeting in Davos, the Adani Group on Wednesday outlined a $66 billion investment blueprint for Maharashtra, spanning aviation, clean energy, urban infrastructure, digital platforms and advanced manufacturing, positioning itself as a long-term partner in the state’s infrastructure-led growth agenda.
Economy:
The International Monetary Fund (IMF) on Monday raised its economic growth forecast for India for the 2025-26 financial year, citing stronger-than-expected momentum in recent quarters. IMF has revised India's GDP growth estimate for FY26 upward by 0.7% to 7.3%, reflecting a better-than-anticipated performance in the third quarter and sustained strength heading into the fourth. However, the IMF expects growth to ease to 6.4% in 2026 and 2027 as temporary and cyclical factors supporting the economy begin to wane.
Stocks in Spotlight:
Wipro tumbled 11.03%. The company reported a 3.92% decline in consolidated net profit to Rs 3,119 crore despite a 3.78% jump in revenue from operations to Rs 23,555.8 crore in Q3 FY26 over Q2 FY26. Looking ahead, the company said that it expects revenue from IT Services business segment to be in the range of $2,635 million to $2,688 million. This translates to sequential guidance of 0% to 2.0% in constant currency terms.
Reliance Industries (RIL) slipped 4.84%. The company reported a 1.6% rise in consolidated net profit to Rs 22,290 crore on a 10% increase in gross revenue to Rs 293,829 crore in Q3 FY26 over Q3 FY25.
ICICI Bank slipped 4.65%. The bank reported a 4.02% fall in standalone net profit to Rs 11,318 crore in Q3 FY26 from Rs 11,792 crore in Q3 FY25. Net interest income (NII) increased by 7.7% year-on-year (YoY) to Rs 21,932 crore in Q3 FY26. Net interest margin was 4.30% in Q3 FY26 as against 4.25% in Q3 FY25. Provisions (excluding provision for tax) were Rs 2,556 crore in Q3 FY26 compared to Rs 1,227 crore in Q3 FY25.
HDFC Bank declined 1.64%. The company reported an 11.46% jump in standalone net profit to Rs 18,563.75 crore on a 2.91% increase in total income to Rs 90,005 crore in Q3 FY26 over Q3 FY25.
LTIMindtree dropped 6.91%. The company reported a 30.73% decline in consolidated net profit to Rs 970.6 crore despite a 3.72% jump in revenue from operations to Rs 10,781 crore in Q3 December 2025 over Q2 September 2025.
Persistent Systems slipped 4.14%. The company reported a 6.79% decline in consolidated net profit to Rs 439.4 crore despite of 5.52% increase in revenue from operations to Rs 3778.20 crore in Q3 FY26 over Q2 FY26.
Bajaj Consumer Care jumped 6.38%. The company’s net profit rose 83.2% YoY to Rs 46.4 crore in Q3 FY26 from Rs 25.3 crore in Q3 FY25. Revenue from operations increased 32.7% YoY to Rs 306.1 crore in Q3 FY26 from Rs 230.7 crore in Q3 FY25.
Dr Reddy’s Laboratories rallied 5.07%. The company reported a 14.4% decline in consolidated net profit to Rs 1209.8 crore despite a 4.4% jump in revenue to Rs 8,716.8 crore in Q3 FY26 over Q3 FY25.
Cipla tanked 5.94%. The company reported 56.96% decrease in consolidated net profit to Rs 675.80 crore in Q3 FY26 as against Rs 1,570.51 crore in Q3 FY25. Total revenue from operations marginally rose 0.02% to Rs 7,074.48 crore in Q3 FY26 as against Rs 7,072.97 crore in Q3 FY25.
Global Market:
The December Eurozone annual CPI figure is expected to be 2.0%, hitting the European Central Bank’s target for the first time since mid-2025, down from 2.1% in November.
Japan’s central bank held its key policy rate at 0.75% as the country prepares to go into an election in which Prime Minister Sanae Takaichi, who advocates for monetary easing and fiscal support, will face voters for the first time.
Japan’s headline inflation rate in December slowed sharply to 2.1%, its lowest level since March 2022. Its core inflation rate came in at 2.4% on the year.
South Korea’s economy unexpectedly shrank 0.3% on a quarterly basis in the October to December period, its sharpest contraction since 2022. Gross domestic product grew 1.5% year on year, while full-year economic growth slowed to 1%, the weakest since 2020, when output contracted 0.7% during the pandemic.
China’s economic growth slowed to its weakest pace in nearly three years in the fourth quarter as domestic demand softened, though full-year growth matched Beijing’s target despite growing trade frictions with the U.S. and a prolonged real estate slump.
China’s gross domestic product grew 4.5% in the October-to-December period, data from the National Statistics Bureau showed Monday. That marked a slowdown from 4.8% in the third quarter and was the weakest reading since the first quarter of 2023, when growth also came in at 4.5%. The full-year economic output came in at 5%, meeting the official target of around 5%.
Adjusted for impact of labour code changes, net income for the quarter was Rs 3,360 crore ($374.3 million), increase of 3.6% QoQ and 0.3% YoY.
Profit before tax (PBT) fell 6.59% YoY to Rs 3,145 crore during the quarter.
In dollar terms, Wipro's gross revenue for Q3 FY26 stood at $2,622 million, registering a increase of 3.8% QoQ and up 5.5% YoY.
IT services segment revenue was at $2,635.4 million in Q3 FY26, marking the growth of 1.2% QoQ and 0.2% YoY. IT services operating margin for Q3 FY26 was 17.6%, expansion of 0.9% QoQ and 0.1% on YoY basis.
Total bookings stood at $3,335 million in Q3 FY26, down 5.7% YoY in constant currency. Large deal bookings stood at $871 million in Q3 FY26, down 8.4% YoY in constant currency.
The company said that its closing employee count in IT Services stood at 242,021 in Q3 FY26. Voluntary attrition was at 14.2% on a trailing 12-month basis.
Looking ahead, the company said that it expects revenue from IT Services business segment to be in the range of $2,635 million to $2,688 million. This translates to sequential guidance of 0% to 2.0% in constant currency terms.
Srini Pallia, CEO and managing director, said “In Q3, we delivered broad-based growth in line with our expectations. As AI becomes a strategic imperative, Wipro Intelligence is emerging as a differentiator and contributed to several wins this quarter. We saw greater adoption of our AI-enabled platforms and solutions, scaled AI-led delivery through WINGS and WEGA, and expanded our innovation network across global locations.”
Aparna Iyer, chief financial officer (CFO), said “Our IT services operating margins at 17.6% expanded both sequentially and on a year-on-year basis. This is our best margin performance in last few years. Our continued focus on execution rigour also reflects in our strong operating cash flow of 135% of net income in Q3. We are also pleased to share that the Board has declared an interim dividend of Rs 6 per share which will take the total payout for the year to $1.3 Billion.”
Meanwhile, the company’s board declared a dividend of Rs 6 per share with a face value of Rs 2 each. The record date has been fixed as 27 January 2026 and dividend will be paid on 14 February 2026.
Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs.
RBL Bank Ltd, Indigo Paints Ltd, Subex Ltd and IDBI Bank Ltd are among the other losers in the BSE's 'A' group today, 19 January 2026.
Wipro Ltd tumbled 7.91% to Rs 246.1 at 14:45 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 40.96 lakh shares were traded on the counter so far as against the average daily volumes of 3.23 lakh shares in the past one month.
RBL Bank Ltd lost 6.47% to Rs 304.05. The stock was the second biggest loser in 'A' group.On the BSE, 8.96 lakh shares were traded on the counter so far as against the average daily volumes of 5.1 lakh shares in the past one month.
Indigo Paints Ltd crashed 6.25% to Rs 1160.9. The stock was the third biggest loser in 'A' group.On the BSE, 2682 shares were traded on the counter so far as against the average daily volumes of 2252 shares in the past one month.
Subex Ltd fell 5.96% to Rs 10.25. The stock was the fourth biggest loser in 'A' group.On the BSE, 1.31 lakh shares were traded on the counter so far as against the average daily volumes of 1.64 lakh shares in the past one month.
IDBI Bank Ltd corrected 5.31% to Rs 99. The stock was the fifth biggest loser in 'A' group.On the BSE, 17.71 lakh shares were traded on the counter so far as against the average daily volumes of 10.86 lakh shares in the past one month.
Wipro Ltd, JSW Infrastructure Ltd, Poonawalla Fincorp Ltd, Tech Mahindra Ltd are among the other stocks to see a surge in volumes on NSE today, 19 January 2026.
Jindal Saw Ltd notched up volume of 886.94 lakh shares by 14:14 IST on NSE, a 69.58 fold spurt over two-week average daily volume of 12.75 lakh shares. The stock rose 15.79% to Rs.179.06. Volumes stood at 23.93 lakh shares in the last session.
Wipro Ltd notched up volume of 577.26 lakh shares by 14:14 IST on NSE, a 8.14 fold spurt over two-week average daily volume of 70.90 lakh shares. The stock slipped 7.96% to Rs.246.15. Volumes stood at 120.28 lakh shares in the last session.
JSW Infrastructure Ltd saw volume of 92.55 lakh shares by 14:14 IST on NSE, a 7.32 fold spurt over two-week average daily volume of 12.64 lakh shares. The stock increased 7.06% to Rs.275.90. Volumes stood at 23.44 lakh shares in the last session.
Poonawalla Fincorp Ltd witnessed volume of 51.21 lakh shares by 14:14 IST on NSE, a 6.08 times surge over two-week average daily volume of 8.42 lakh shares. The stock increased 1.77% to Rs.472.15. Volumes stood at 13.76 lakh shares in the last session.
Tech Mahindra Ltd recorded volume of 82.48 lakh shares by 14:14 IST on NSE, a 4.9 times surge over two-week average daily volume of 16.85 lakh shares. The stock gained 3.56% to Rs.1,730.00. Volumes stood at 37.33 lakh shares in the last session.
Adjusted for impact of labour code changes, net income for the quarter was Rs 3360 crore ($374.3 million), increase of 3.6% QoQ and 0.3% YoY.
The counter added 2.73% to end at Rs 267.25 on the BSE.
Wipro Ltd fell for a fifth straight session today. The stock is quoting at Rs 263.82, down 0.16% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.17% on the day, quoting at 25897.6. The Sensex is at 84563.41, down 0.16%.Wipro Ltd has gained around 5.41% in last one month.Meanwhile, Nifty IT index of which Wipro Ltd is a constituent, has increased around 1.57% in last one month and is currently quoting at 38282.7, down 0.38% on the day. The volume in the stock stood at 23.65 lakh shares today, compared to the daily average of 76.06 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 264.47, down 0.04% on the day. Wipro Ltd tumbled 12.6% in last one year as compared to a 9.53% rally in NIFTY and a 12% fall in the Nifty IT index.
The PE of the stock is 23 based on TTM earnings ending September 25.