SENSEX up 154 pts, NIFTY50 recover from day's low in noon deals; Eternal, Vikram Solar among buzzing stocks

The Indian equity markets remained volatile, as both SENSEX and NIFTY50, extended their losses to trade to the deep red for the third consecutive session. They later recovered and were trading flat in the afternoon session of Wednesday, January 21, amid rising geopolitical tensions.

In the US markets, stocks slumped on Tuesday after President Donald Trump threatened to hit eight European countries with new tariffs as tensions escalated over his attempts to assert American control over Greenland.

The SENSEX plunged as much as 1,056.02 points to hit an intraday low of 81,124.45. Meanwhile, the NIFTY50 crossed the psychological level of 25,000 to touch the day’s low of 24,919.80.

At 1:10 PM, the S&P BSE SENSEX advanced by 154 points, or 0.19%, to 82,335.41, while NSE’s NIFTY50 was trading flat at 25,234.70.

Furthermore, the India VIX, the volatility gauge, spiked over 13% during Wednesday’s noon session.

On Tuesday, the foreign institutional investors (FIIs) sold stocks worth ₹32,938.33 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹3,665.69 crore on a net basis, according to exchange data.

Shares of Trent, which fell 2.83%, topped the list of laggards on the NIFTY50 index. It was followed by Larsen & Toubro (-2.24%), ICICI Bank (-2.22%), Bharat Electronics (-2.08%) and Apollo Hospitals Enterprise (-2.03%), which were also among the top losers.

On the other hand, the top gainers included Eternal (1.34%), Power Grid Corporation of India (0.96%), Grasim Industries (0.84%), InterGlobe Aviation (0.81%) and JSW Steel (0.77%).

Buzzing stocks on January 21: Check list

Shares of Shoppers Stop declined as much as 12.38% to hit a low of ₹319.30 apiece on the National Stock Exchange (NSE) on Wednesday, January 21, after reporting a 69.13% year-on-year (YoY) decline in its consolidated net profit at ₹16.12 crore for Q3FY26.

In the year-ago period, it had clocked a profit of ₹52.23 crore, it said in a regulatory filing on Tuesday.

Its revenue from operations was up 2.63% to ₹1,415.82 crore in the December quarter of FY26, compared to ₹1,379.47 crore a year ago.

Credit Access Grameen stock surged as much as 10.71% to an intraday high of ₹1,375.70 per equity share, as it reported net profit of ₹252 crore in the third quarter of the current financial year, compared with a loss of ₹99 crore in the year-ago period.

The company's pre-provision operating profit (PPOP) increased 9.2% annually to ₹680.5 crore, and its total income rose 8% to ₹1,491 crore.

The company's assets under management advanced 7% annually to ₹26,566 crore and its disbursements jumped 13% to ₹5,767 crore from ₹5,085 crore.

Eternal shares advanced as much as 2.86% to the session’s peak of ₹277.30 per unit ahead of posting its earnings for the December quarter of FY26.

The company is expected to report upbeat quarterly earnings. Experts believe Eternal could report a substantial rise in revenue and net profit during the December quarter, aided by strong sales from the Blinkit business.

The company’s revenue could be in the range of ₹15,885 to ₹16,275 crore during the third quarter, marking a 190–200% year-on-year increase, driven by the shift in the Blinkit business model to an inventory-led model. This allows the company to buy, store, and sell products directly, giving it control over pricing and margins. On a sequential basis, Eternal's revenue could increase by 16-19%.

Eternal's net profit could rise by 49-55% year on year to a range of ₹88-₹92 crore, while it could rise by 30-35% sequentially. Eternal reported a net profit of ₹59 crore in Q3 FY25 and ₹65 crore in the previous quarter.

The stock of Amagi Media Labs debuted at ₹318 apiece on the NSE on Wednesday. This reflects a discount of 11.91% against the issue price of ₹361 per share. On the BSE, the stock started trading at ₹317, down 12.19% from the issue price.

The ₹1,788.62 crore initial share sale consisted of new shares valued at ₹816 crore and an offer for sale (OFS) of shares aggregating to ₹972.62 crore.

Shares of Vikra Solar plunged as much as 11.11% to a 52-week low of ₹191 apiece, despite reporting a five-fold YoY increase in its net profit to ₹98 crore for the December FY26 quarter, compared to ₹19 crore in the year-ago period.

Its revenue from operations stood at ₹1,105.95 crore in the reporting quarter, marking a nearly 8% YoY jump from ₹1,026.04 crore in Q3FY25.

The fall in shares comes amid profit booking and a sell-off in the broader markets.

Hindustan Zinc stock gained as much as 2.72% to an intraday high of ₹699.30 apiece, as the company shared an important update in its regulatory filing on Tuesday.

In its filing, the company said that a meeting of the committee of directors of the company (“Committee”) is scheduled to be held on Friday, January 23, 2026, inter alia, to consider and evaluate proposals for raising funds through the issue of listed non-convertible debentures on a private placement basis, subject to market conditions.