Stock Market Outlook Today, 9 January: Sensex, Nifty Expected to Remain Under Pressure; Global Trade Concerns

Indian equity markets are likely to remain under pressure during the Friday trading session on January 9, 2026, after benchmark indices witnessed a sharp sell-off on Thursday amid heightened global uncertainty and sustained foreign fund outflows. Weak global cues, concerns over potential US tariff measures and continued risk aversion among investors have weighed heavily on market sentiment, prompting broad-based selling across sectors.

Stock Market Outlook Today For 9 January 2026: Sensex, Nifty Prediction

On Thursday, the Sensex plunged 780.18 points, or 0.92 per cent, to close at 84,180.96, while the Nifty slipped 263.90 points, or 1.01 per cent, to settle at 25,876.85, breaching the crucial 25,900 support level. The broader markets also remained under pressure, with both the Nifty Midcap100 and Smallcap100 indices declining by around 2 per cent each, reflecting widespread weakness beyond frontline stocks.

Stocks in Focus Today: Metal, Oil and Gas, PSU, Capital Goods Stocks To Watch on Friday

Sectorally, Metal stocks were the worst performers, falling over 3 per cent amid profit booking following a decline in global commodity prices. Oil and Gas stocks also came under significant pressure due to geopolitical concerns related to the Venezuela-US situation.

PSU Banks, Power, and Capital Goods stocks witnessed sharp losses of 2-3 per cent as investors stayed cautious. IT stocks traded lower ahead of the Q3 earnings season, while export-oriented stocks were hit after reports that the US could impose steep tariffs on countries continuing trade with Russia.

Commenting on the market's sharp fall, Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services Ltd, said, "Indian equity benchmarks witnessed a steep fall on Thursday, with Nifty50 declining 264 points to close at 25,877 (-1%), as investors grappled with concerns over potential US tariffs, continued FII selling and weak global cues."

He added that selling pressure was visible across all sectors, with Nifty Metal plunging 3.4 per cent, followed by Oil and Gas and PSU Bank indices.

Despite the near-term weakness, Khemka pointed to improving corporate earnings as a potential positive. "There is a ray of hope from corporate earnings, which is expected to see sharp improvement in Q3. We expect our coverage universe to deliver 16 per cent year-on-year PAT growth, the strongest in the past eight quarters," he said, adding that sectors such as Oil and Gas, NBFC lending, Automobiles, Metals, Capital Goods, and Cement are expected to lead earnings growth.

Nifty Prediction Today, 9 January 2026

From a technical perspective, Bajaj Broking Research noted that the Nifty has formed a strong bearish candle, signalling an extension of the corrective decline for the fourth straight session. "The index closed below the key support zone of 26,000-25,900 and slipped below the rising trendline and the 50-day EMA for the first time since October 2025, highlighting a deterioration in the short-term structure," the brokerage said.

It added that continued weakness could drag the index towards the 25,700-25,600 zone, which coincides with the previous month's low and the 100-day EMA.

However, Bajaj Broking also highlighted that momentum indicators suggest the market is entering oversold territory, raising the possibility of a short-term technical pullback. "For the corrective decline to pause, the index must reclaim the 26,100 level on a closing basis," it said.

Bank Nifty Outlook Today

On the banking front, Bank Nifty also remained weak, forming a bearish candle with a lower high and lower low. According to Bajaj Broking Research, the index is likely to consolidate in the 59,500-60,400 range in the near term. Immediate support is placed at 59,500, while the crucial short-term support zone lies between 59,000 and 58,700, a key area formed by the 50-day EMA and the previous month's low.

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