After opening the day flat, the Indian market dragged as the session progressed and ended the day lower.

Indian equity markets ended lower in volatile trade on Monday, dragged by declines in information technology and oil and gas stocks. The decline also amid mixed global cues after the US military operation in Venezuela that led to the capture of President Nicolas Maduro.

At the closing bell, the BSE Sensex closed lower by 322 points (down 0.4%).

Meanwhile, the NSE Nifty closed 78 points lower (down 0.3%).

Nestle, Eicher Motors and Axis Bank are among the top gainers today.

Infosys, ONGC and Wipro, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 26,320, down by 148 points at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended flat

Sectoral indices were trading mixed, with stocks in the realty sector and the metal sector witnessing buying. Meanwhile, stocks in the energy sector and the IT sector are witnessing selling pressure.

The rupee is trading at 90.27 against the US$.

Gold prices for the latest contract on MCX are trading 1.5% higher at Rs 137,857 per 10 grams.

Meanwhile, silver prices were trading 3.4% higher at Rs 245,132 per 1 kg.
 

Why PC Jeweller's Share Price is Rising?

In news from the retail sector, shares of PC Jeweller surged as much as 8% on Monday after the company announced a strong business update for the quarter ended December 31, 2025. The stock touched an intraday high of Rs 10.32 on the NSE, tracking positive investor response to improved operating performance.

The rally was driven by a 37% year-on-year growth in standalone revenue for the December quarter of FY26, supported by healthy consumer demand during the festive and wedding season.

The robust sales momentum signalled a continued recovery in the company's core jewellery business.

Adding to the positive sentiment, PC Jeweller disclosed that it has submitted a proposal under the Chief Minister - Yuva Udyami Vikas Abhiyan (CMYUVA) scheme to the Directorate of Industries and Enterprises Promotion, Government of Uttar Pradesh.

The proposal aims to support trained goldsmith entrepreneurs in rural and semi-urban regions by facilitating the setup of 1,000 jewellery retail franchise units with the company.

The company further stated that the proposal has been approved for onboarding as a franchise brand on the CM-YUVA portal, and a memorandum of understanding has been signed with the CM-YUVA Mission under the Department of MSME and Export Promotion, Government of Uttar Pradesh.
 

Why Defence Stocks are Rising?

Moving on to news from the defence sector, shares of defence companies moved sharply higher on January 5, lifting the Nifty India Defence index by nearly 2 percent, amid a spike in global geopolitical tensions.

The rally followed reports of a major US military operation in Venezuela, which heightened expectations of increased defence spending and sustained demand for military equipment globally.

The United States launched an operation named 'Absolute Resolve', involving airstrikes on multiple targets across Venezuela and the capture of President Nicolás Maduro and the First Lady. The development came after months of escalating military and economic pressure on the South American nation.

Adding to market nervousness, US President Donald Trump stated that the US would assume control temporarily, indicating that the current system would not continue under a replacement leader and that governance would remain under a US-led framework until a "safe, proper and judicious transition" is achieved.

Heightened geopolitical uncertainty typically boosts investor interest in defence stocks, as prolonged conflicts and strategic interventions often translate into stronger order inflows, higher defence budgets, and improved long-term visibility for companies in the sector.
 

Cupid Shares Fall 20% for Second Straight Session

Moving on, shares of Cupid continued their sharp decline on January 2, plunging 20% for the second consecutive session, following an exceptional rally last year.

The correction comes as analysts weigh in on the road ahead for the small-cap stock.

The condom maker's shares slipped to a one-month low of Rs 337.1 during Monday's trade before trimming some losses.

In just two sessions, the stock has corrected nearly 36%, after having surged about 550% in 2025.

The selling pressure intensified after the stock was placed under the long-term Additional Surveillance Measure (ASM) Stage 1 framework. This mechanism mandates 100% margin requirements on a T+3 basis, a move aimed at curbing excessive volatility in select stocks.

Cupid is engaged in the manufacturing and supply of male and female condoms, water-based lubricant jelly, and IVD kits.

The company currently has an annual installed capacity of over 480 million male condoms, 52 million female condoms, and 210 million sachets of lubricant jelly.

More By This Author:

Nifty Below 26,350; PSU Bank Stocks Shine
Sensex Today Rallies 573 Points; Nifty Above 26,300
Nifty Above 26,150; Sensex Today Trades Higher