SENSEX drops 625 pts, NIFTY below 25,900 in noon deals; Tata Steel, IRB Infra, L&T among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, continued their downward trend in the afternoon for the fourth consecutive session on Thursday, January 8. The indices were weighed down by weak global cues and selling in the metal, IT and oil & gas sectors.

The SENSEX slipped as much as 0.86% to an intra-day low of 84,230.95. Meanwhile, the NIFTY50 touched the session’s low of 25,884.15.

At 12:44 PM, the S&P BSE SENSEX declined by 625.49 points, or 0.74%, to 84,332.65, while NSE’s NIFTY50 was trading at 25,926.50, marking a 214.25 points, or 0.82% drop.

On Wednesday, the foreign institutional investors (FIIs) sold shares worth ₹1,527.71 crore, while the domestic institutional investors (DIIs) bought equities worth ₹2,889.32 crore on a net basis, according to exchange data.

Hindalco Industries, which fell 3.69%, was the top loser of the NIFTY50 pack. Oil & Natural Gas Corporation (-2.63%), Jio Financial Services (-2.29%), Wipro (-2.22%), and Tata Consultancy Services (-2.18%).

On the other hand, the top gainers included Bharat Electronics Ltd (1.02%), Eternal (0.85%), Adani Ports and Special Economic Zone (0.60%), SBI Life Insurance Company (0.52%) and ICICI Bank (0.51%).

Buzzing stocks on January 8: Check list

Shares of Angel One surged as much as 1.89% to an intraday high of ₹2,517.40 apiece on the National Stock Exchange (NSE), before slipping into the red.

This comes after it shared business updates for Q3FY26. It is also set to announce a stock split and an interim dividend on January 15.

In an exchange filing on Thursday morning, the company briefed on its steady growth in operations for December and Q3FY26. The company’s total client base as of December 2025 stood at 35.7 million, up 21% YoY and 1.8% MoM, while the gross client addition for the month stood at 0.68 million, up 35% MoM.

The average client funding book for the month jumped 43% YoY to ₹58.36 billion for December and ₹58.5 billion for Q3FY26, up by 44% YoY. Similarly, overall average daily turnover (ADTO) for the quarter also improved by 32% YoY and 22.8% QoQ at ₹55,350 billion. The company holds 18.3% market share in cash turnover and 20.4% market share in overall retail equity.

In a separate filing on Wednesday, the company said that its board of director will meet on Thursday, January 15, for the “proposal for alteration in the share capital by sub-division or split of existing equity shares having face value of ₹10 each, fully paid up, in such manner as may be determined by the board of directors and declaration of first interim dividend for financial year 2025-26.”

Tata Steel stock opened with gains but lost steam amid a weak market on Thursday, a day after the company said it has achieved ‘best-ever quarterly’ crude steel production of 6.34 million tonnes (mt) in Q3 FY26.

The Tata firm said production increased 12% on a quarterly basis as well as year-on-year (YoY), primarily aided by higher output at the Jamshedpur and Kalinganagar facilities. For the nine months ended in the December quarter of FY26, production was up 6% YoY to ~17.2 mt.

“Improved production led to ‘best-ever quarterly’ deliveries, and Tata Steel India crossed the ‘6 million tonne’ mark for the first time,” the firm said in a regulatory filing.

Balaji Amines shares rallied 13.2% to touch an intraday high of ₹1,212.5 on Thursday, January 8, after the specialty chemical-making firm received a ₹258 crore incentive from the Maharashtra government for unit expansion.

“This is to inform you that the Directorate of Industries, Government of Maharashtra, has issued an Eligibility Certificate dated 2nd January, 2026, received on 7th January, 2026, for expansion of the unit under Mega Projects – Investment Based/100% Gross Basis under the Package Scheme of Incentives – 2013 (the Scheme),” Balaji Amines said in a regulatory filing.

The company further said that it is eligible for incentives under the Industrial Promotion Subsidy (IPS), including a subsidy of ₹258.01 crore, equivalent to 50% of the SGST payable on sales of eligible finished products in Maharashtra.

It will also receive an exemption from electricity duty and a 100% waiver of stamp duty for seven years, from January 1, 2024, to December 31, 2030, as per the relevant government notification.

The stock of Transformers & Rectifiers (India) Ltd rose, as the company is set to announce earnings for the third quarter of the financial year 2025-26.

"We would like to inform you that the meeting of the Board of Directors of the company will be held on Thursday, 8th January, 2026, inter alia, to consider and approve the Unaudited Standalone and Consolidated Financial Results of the company for the quarter and nine months ended on 31st December, 2025," the company said in an exchange filing.

Shares of LG Electronics India slumped as much as 4.34% to a record low of ₹1,393.20 per unit. This comes as, according to available reports, its three-month lock-in period ended today.

IRB Infrastructure and Developers (IRB) stock rose as much as 2.4% to touch an intraday high of ₹43.35 per equity share, after the firm posted a 12% year-on-year rise in its toll revenue to ₹754 crore in December 2025.

The revenue collection stood at ₹675 crore in the same month last year, IRB said in a regulatory filing. The collection includes revenues from two of its InvITs, namely IRB InvIT Fund (Public InvIT) and IRB Infrastructure Trust (Private InvIT).

Of its total 24 assets, IRB MP Motorway in Maharashtra contributed the major share of ₹170.3 crore to the total revenue collection in December 2025, up from ₹163.4 crore in December 2024.

Shares of Larsen & Toubro (L&T) were trading marginally lower, despite bagging a supply order from the Indian Army for upgrading in-service Pinaka Multi-Rocket launch systems.

The order, received from the Corps of Electronics and Mechanical Engineers (EME) of the Indian Army, is for the overhaul, upgradation, and obsolescence management of the indigenous launcher systems, it said in a regulatory filing.

The partnership between the original equipment manufacturer and the Indian Army aims to enhance the long-term operational availability and modernisation of the Pinaka regiment in service with the Army.

Furthermore, it will focus on managing outdated components, upgrading critical sub-systems, and providing sustained technical support to the Army Base Workshops.

The stock of BHEL dropped as much as 3.62% to an intraday low of ₹292.55 per equity share, despite commencing the supply of semi-high-speed underslung traction converters for the Vande Bharat sleeper train project.

The order is being executed by the BHEL-led consortium with TRSL, it said in a regulatory filing.