January 9, 2026 | Losses deepen, flows diverge, and the market braces for key global cues.

‍

Market Prabhat – Oorjita Brief

Date: January 9, 2026 | Time: 08:15 AM IST

‍

Good Morning – Market Recap

Indian markets ended Wednesday with their worst single-day decline in a month, as the Nifty 50 closed at 25,876.85, down 263.90 points or 1.01%, while the Sensex fell 780.18 points or 0.92% to 84,180.96. This marked the fourth consecutive session of losses for Indian equities, driven by broad-based selling across heavyweights like TCS, TechM, and L&T.

Foreign institutional investorscontinued their selling spree with a net outflow of ₹3,367.12 crore on January 8, while domestic institutional investors provided support with net buying of ₹3,701.17 crore.

GIFT Nifty futures traded at 26,003.00 as of 02:43 AM IST on January 9, up 33.00 points or 0.13%, signaling a cautious positive opening for domestic markets. Wall Street closed mixed on Thursday, with the Dow Jones posting its best 5-day start to a year since 2006, while the S&P 500 ended flat and the Nasdaq edged lower.

Today's focus: US Non-Farm Payroll data due Friday (January 10) is expected to show 55,000–75,000 jobs added in December versus 64,000 in November, with the unemployment rate projected at 4.5%. Indian markets await Q3 earnings from companies including IREDA, Tejas Networks, and Globus Spirits today.

‍

Tech Pulse

India's Semiconductor Push Accelerates: Four semiconductor manufacturing plants in India are set to begin commercial production in 2026, marking a watershed moment in the nation's push for technology self-reliance. Union Minister Ashwini Vaishnaw confirmed that Micron, CG Power, Kaynes Technology, and Tata Electronics will transition from pilot to commercial manufacturing this year. The government has approved 10 semiconductor projects worth over ₹1.60 lakh crore across six states, with companies now working on advanced two-nanometre chip designs compared to five-to-seven nanometre designs previously.

Global AI Chip Dynamics: China temporarily halted orders for Nvidia's advanced H200 AI chips, seeking to regulate imports while pushing domestic semiconductor development. This development comes days after Nvidia CEO Jensen Huang highlighted surging demand for H200 chips globally. The move underscores intensifying competition in the AI infrastructure space and could redirect supply to other markets including India.

Strategic Developments: SEALSQ Corp's executive team is conducting a strategic roadshow across India (January 5–9, 2026) to advance plans for a post-quantum semiconductor personalization center, signaling growing international interest in India's chip ecosystem.

‍

Funding Radar

Indian startup funding remained subdued in the week ending January 3, 2026, with only three startups raising a combined $110.22 million. Early-stage activity saw Mumbai-based banking infrastructure startup Knight Fintech raise $23.6 million in a round led by Accel, with participation from IIFL and Rocket Capital. Proptech startup Truva raised over $6.32 million from existing investors Stellaris Venture Partners and Orios Venture Partners.

The muted funding environment reflects ongoing global investor caution, though sector-specific interest in fintech infrastructure and real estate technology remains resilient. December 2025 witnessed several notable deals including Planys Technologies (robotics/marine tech, $11.07 million), aerospace startups ULOOK ($2.14 million) and Arctus Aerospace ($2.6 million), and AI-focused ventures across healthcare, gaming, and cybersecurity.

‍

IPO Pipeline Watch

Bharat Coking Coal Limited (BCCL) opens for retail subscription today (January 9) after completing anchor investor bidding yesterday. The state-owned coking coal miner has set a price band yet to be disclosed publicly, with the issue comprising fresh equity and offer-for-sale components. The subscription window runs through January 13, with basis of allotment expected on January 14 and listing scheduled thereafter.

‍

Oorjita Pre-Emptive Read

BCCL operates as a subsidiary of Coal India Limited and holds strategic importance in India's metallurgical coal value chain, supplying coking coal primarily to steel manufacturers. The PSU has demonstrated steady revenue and profit growth over three years with zero financial leverage. Anchor allocation results and retail subscription trends on Day 1 will be critical watch indicators. The company's minimum lot size is set at 600 shares.

‍

Red Flags

• Limited disclosure on price band and valuation metrics pre-opening
• Coking coal sector exposed to global commodity price volatility

‍

Green Flags

• Zero debt on balance sheet provides financial flexibility
• Strategic position in steel supply chain with captive customer base
• Government backing as Coal India subsidiary

‍

Timeline: Retail opens today (Jan 9) → Closes Jan 13 → Allotment Jan 14

‍

‍