Top Gainers & Losers on Jan 21: Kalyan Jewellers, SRF, Paytm, Cyient, Tata Chemicals, Angel One among top losers

The Indian stock market recorded losses for the third consecutive day on Wednesday, January 21, although the declines were limited due to a sharp recovery in the latter half of the session.

Following heavy losses in the US market, both the Nifty 50 and Sensex opened lower, and the sell-off intensified during the first half, with both indices losing over 1% at their intraday lows before recovering partial losses.

Consequently, the Nifty closed down 0.3% at 25,157 points, while the Sensex ended the session at 81,909, down 0.33% from the previous close. The broader markets, however, underperformed the key indices, with the Nifty Midcap 100 falling 1.15% and the Nifty Smallcap 100 losing 0.9%.

All major sectoral indices closed in the red, with Nifty Chemicals facing the largest fall of 2.13%, followed by Nifty Consumer Durables and Nifty PSU Bank, each down by 1.66% and 1%, respectively. Other sectors, including Nifty Realty, Nifty FMCG, Nifty Pharma, Nifty Media, Nifty IT, and Nifty Auto, fell between 0.3% and 0.71%.

Concerns have mounted that tariff threats by US President Donald Trump on European countries linked to Greenland could escalate into a full-scale global trade war, triggering panic selling across major global markets and reviving memories of the sharp sell-off seen when Trump announced “liberation tariffs” in April last year.

Apart from unsupportive global cues, the domestic macro picture appeared gloomy. The first batch of December-quarter results from Nifty 50 companies was muted, with bottom-line performance impacted by labour code–related expenses.

This also appeared to weigh on foreign portfolio investors’ sentiment, as they offloaded another ₹2,938 crore during Tuesday’s session, taking month-to-date outflows to ₹29,135 crore, according to NSDL data.

Persistent selling by FPIs also weighed on the Indian rupee, which touched another record low of 91.7 against the US dollar.

Mid- and small-cap sell-off deepens amid risk-off sentiment

Kalyan Jewellers led the list of top laggards, with the stock plunging 12.2% to ₹396 apiece, marking its lowest level since 2024. Today’s sharp fall also resulted in nine consecutive sessions of decline and a cumulative loss of 24%.

SRF shares tumbled 7.2% to a nine-month low of ₹2,676, as investors were disappointed by the company’s indication that it may miss its earlier FY26 specialty chemicals sales growth guidance, despite reporting a healthy performance for the December quarter.

Tata Communications shares also came under pressure following the release of its Q3 numbers, dropping 5.5% to ₹1,617 apiece. Another Tata Group stock, Tata Chemicals, slipped 5.1% to ₹693 apiece.

Extending losses to a third straight session, Paytm shares cracked another 4.7% to ₹1,235, their lowest level in over two months.

Capital market–related stocks such as Nuvama Wealth Management, Angel One, Motilal Oswal Financial Services, UTI Asset Management, and 360 One WAM declined between 3% and 4%.

Other major laggards included Cyient, Force Motors, Laurus Labs, CEAT, UPL, JK Cement, L&T Finance, Amber Enterprises, Netweb Technologies, Alok Industries, RHI Magnesita India, Waaree Energies, PG Electroplast, Inox Wind, and Premier Energies, with most stocks falling in the range of 3% to 5%.

Q3 earnings cheer lifts select stocks

Mangalore Refinery and Petrochemicals, CreditAccess Grameen, and IndiaMART Intermesh were among the top gainers in the Nifty 500 pack, rising 9.2%, 9.1%, and 5.7%, respectively, as investors reacted positively to the companies’ December-quarter numbers.

KPR Mill also saw its shares climb 6% to ₹859, snapping a three-day losing streak, while Eternal shares closed 5% higher at ₹283.5 apiece.

Meanwhile, the record-breaking rally in copper prices continued to support Hindustan Copper, with the stock ending the session 5% higher at ₹557 apiece.

Other top gainers, including ITC Hotels, Welspun Living, Jindal SAW, City Union Bank, Chennai Petroleum, IDBI Bank, and Radico Khaitan, all closed the day with gains of over 3%.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.