Nifty 50 Opens at 24,999 in Pre-Open; ICICI Bank, JSW Steel Lead Gains, Axis Bank Lags
By Shishta Dutta | Updated at: Jan 9, 2026 01:49 PM IST
Mumbai, July 21: The Nifty 50 index commenced trading this Monday with a relatively flat open in the pre-market session, settling at 24,999. This marks a modest gain of 30.6 points, or 0.12%, reflecting a mixed sentiment among investors. While select heavyweights experienced bullish momentum, this was largely offset by declines in banking and Fast-Moving Consumer Goods (FMCG) majors.
Out of the 50 constituent stocks, 19 advanced, 24 declined, and 7 remained unchanged, indicating a cautious start to the trading week. The total pre-open market capitalisation for the Nifty 50 stood at approximately ₹112.84 lakh crore, with a total traded value nearing ₹2,142 crore.
| Stock | Last Price (₹) | Change (₹) | % Change | Previous Close (₹) |
|---|---|---|---|---|
| ICICI Bank | 1,448 | +22.2 | +1.56% | 1,425.8 |
| JSW Steel | 1,051 | +16.6 | +1.60% | 1,034.4 |
| HDFC Bank | 1,978.2 | +20.8 | +1.06% | 1,957.4 |
| Ultratech Cement | 12,560 | +62 | +0.50% | 12,498 |
| Hindalco | 679 | +3.1 | +0.46% | 675.9 |
ICICI Bank emerged as the top performer, benefiting from robust buying demand, following its strong Q1 FY26 results, which saw a 15.5% increase in standalone net profit. JSW Steel also saw gains, continuing to draw buying interest after reporting an upbeat quarterly performance with a 158% year-on-year jump in consolidated net profit. HDFC Bank contributed positively, recording over ₹640 crore in turnover during the pre-open session.
Top Losers
| Stock | Last Price (₹) | Change (₹) | % Change | Previous Close (₹) |
|---|---|---|---|---|
| Axis Bank | 1,086 | -13.3 | -1.21% | 1,099.3 |
| Reliance | 1,465 | -11 | -0.75% | 1,476 |
| Sun Pharma | 1,681.1 | -12.5 | -0.74% | 1,693.6 |
| Dr Reddy’s | 1,250.2 | -7.3 | -0.58% | 1,257.5 |
| Eicher Motors | 5,597 | -30.5 | -0.54% | 5,627.5 |
Axis Bank experienced the sharpest decline, shedding 13.3 points amidst heavy sell-side pressure. The bank’s stock was impacted by a previous day’s significant drop, and recent lukewarm results have contributed to investor caution. Other sectoral majors, including Reliance Industries and Sun Pharma, also opened with marginal losses.
Market Breadth
- Advances: 19
- Declines: 24
- Unchanged: 7
The slight imbalance in the advance-decline ratio reflects the cautious optimism in the market, as investors await more Q1 results from companies this week, alongside macroeconomic triggers such as the Reserve Bank of India (RBI) policy meet and broader global cues.
Sectoral Highlights
- Private Banks exhibited mixed trends, with ICICI Bank showing strength, while Axis Bank and Kotak Bank trended lower.
- Metals and Industrials, including JSW Steel and Hindalco, remained firm, continuing their positive momentum.
- FMCG and Pharma sectors were under pressure, with major players like Hindustan Unilever (HUL), Sun Pharma, and Dr Reddy’s recording marginal downticks.
What’s Ahead for Today?
Markets are likely to remain range-bound with a slight positive bias as investors digest early Q1 FY26 earnings and await more heavyweight results this week. Key drivers today will include stock-specific action, especially in ICICI Bank, JSW Steel, and HDFC Bank, which showed early strength. Attention will also be on Axis Bank and FMCG counters for possible recovery moves. Global market cues, crude prices, and pre-RBI policy commentary could influence intraday sentiment. With a mixed market breadth and cautious undertone, volatility may rise during the latter half of the session.
About Nifty 50
The Nifty 50, operated by NSE Indices Limited, is a benchmark Indian stock market index representing the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange. It serves as a barometer for market sentiment and investor confidence across sectors.
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