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Weekly Update Market Trigger

Markets Under Pressure: What Will Drive Nifty & Sensex This Week?

Indian equities saw heavy selling as global macro risks, rupee weakness and midcap panic dominated sentiment. Here’s a clear roadmap for the week ahead—events, results, risks and key levels to watch.

3 min read   |   25-Jan-2026   |   Last Updated: 05 Feb 2026
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Written by: SERNET Research Team

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Table of Content

Weekly Trigger (Jan 26 – Jan 30) and its Impact

         Trigger for the Week           How will it impact? 
   
  • Nifty -2.51% down, Sensex -2.43% lower, for the week ending 23-Jan 
  • Global macro risks amidst Trump claims over Greenland and delays in Indo-US trade deal, spooked the Indices 

 
  • Mid-cap index -4.55% lower; small cap index -5.81% down this week 
  • The selling was much more intense in smaller stocks, and that fear factor is likely to stay next week too 

 
  • Key Large Cap Q3FY26 results to be announced during the week 
  • Kotak Bank, Ultratech, Axis Bank, APIL, L&T, BEL, Maruti, SBI Life, TVS Motors, ITC, TAMO, Bajaj Auto, NTPC, REC 

 
  • Key Mid Cap Q3FY26 results to be announced during the week 
  • CPCL, Marico, CG Power, SBI Cards, GE Vernova, Dabur, Swiggy, NTPC Green, Paytm, PEPL, BOB, Meesho, SAIL 

 
  • Major corporate action record dates scheduled for coming week 
  • Wipro, SRF, Persistent, IIFL Finance, GCPL, Siemens Energy, CAMS, Mastek, ACGL, JSL, KEI (Dividends RD) 

 
  • Rupee closes the week at ₹91.68/$, after touching a low of ₹91.99/$ 
  • Rupee was almost on free fall during the week as event risks and FPI selling added to the absence of RBI support 

 
  • Spot Gold at $4,983/oz and Silver at $102.97/oz, scale lifetime highs 
  • With gold and silver almost at end-2026 targets, both precious metals are now in uncharted territory 

 
  • India IIP growth for December will be announced on 28-January 
  • After the 3.3% growth in November, the IIP is expected to bounce in sync with the sharp rebound in core sector 

 
  • CGA to put out December-end fiscal deficit update on 30-January 
  • The 9-months data will be crucial in reassuring investors that the government will be able to defend 4.4% target 

 
  • Fed interest rate decision to be put out after Fed meet on 28-January 
  • With strong GDP growth and 2.9% PCE inflation, the chances of a Fed rate cut in January are diminishing 

 
  • With no IPOs announced for next week, Shadowfax listing will be key 
  • Other 2 IPOs in January (BCCL and Amagi) are trading at a premium to issue price, so Shadowfax will be watched 

 
  • Nifty S/R at (24,933/25,256); Sensex S/R (81,168/82,212) for next week 
  • Crucial levels for change in Short View will be 25,361 for Nifty and 82,589 for Sensex; with Longs only above that 

 
  • Key data points from US markets to be keenly watched this week 
  • Durable Goods Orders, Atlanta Fed GDP, Powell Speech, Jobless Claims, Trade Deficit, Fed Balance Sheet, PPI 

 
  • Key data points from ROW markets to be keenly watched this week 
  • GDP, Unemployment (EU); Core CPI, IIP, BOJ Minutes (Japan); CFTC Net Positions (UK); Composite PMI (China) 

 

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