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After witnessing heavy selling pressure in the previous session, Indian equity benchmarks are expected to open on a flat-to-positive note on January 21, supported by firmer cues from GIFT Nifty, which was trading higher around the 25,294 mark. However, sentiment may remain cautious as global cues continue to be weak amid ongoing geopolitical tensions.

On January 20, Dalal Street saw a sharp sell-off, with the Sensex and Nifty declining over 1 percent each. The Nifty slipped below the 25,200 level intraday, weighed down by concerns over global trade tensions, mixed quarterly earnings, weak global markets, a depreciating rupee, broad-based selling pressure, and persistent foreign institutional investor (FII) outflows.

The 30-share benchmark index ended at 82180.47 down by -1065.71 points or by -1.28 % and then NSE Nifty was at 25232.5 down by -353 points or by -1.38 %. On the global front, stock markets in Asia continued to trade lower on Wednesday amid the US President's threat to European nations over the Greenland issue. Japan's Nikkei was down 0.35 per cent after bonds rebounded on Wednesday, a day after a steep selloff.

Trump levied a 10 per cent tariff on eight European countries, effective February 1, rising to 25 per cent in June, as they opposed his plans to acquire Greenland. On Wall Street, stocks posted their worst session since April's crash last year, according to Bloomberg, with volatility reaching its highest level since November of the previous year. The S&P 500 and the Nasdaq indices closed over 2 per cent lower.

Back home, Top traded Volumes on NSE Nifty – Eternal Ltd. 83681194.00, HDFC Bank Ltd. 36022727.00, Bharat Electronics Ltd. 32732305.00, Tata Steel Ltd. 20094927.00, Kotak Mahindra Bank Ltd. 18805991.00, On NSE, total number of shares traded was 697.09 Crore and total turnover stood at Rs. 125153.83 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 170223 with a total turnover of Rs. 28584.52 Crore. Along with this total number of contracts traded in stock futures were 2154595 with a total turnover of Rs. 146330.14 Crore. Total numbers of contracts for index options were 408063857 with a total turnover of Rs. 67649275.49 Crore. and total numbers of contracts for stock options were 11363033 with a total turnover of Rs. 804646.76 Crore.

The FIIs on 20/01/2026 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 13647.41 Crore and gross debt purchased stood at Rs. 2243.32 Crore, while the gross equity sold stood at Rs. 15709.48 Crore and gross debt sold stood at Rs. 308.18 Crore. Therefore, the net investment of equity and debt reported were Rs. -2062.07 Crore and Rs. 1935.14