The market sentiment has taken a turn for the worse by afternoon, and the Nifty 50 is now struggling below 26,000, while the BSE Sensex has slipped to around 84,300. Selling pressure was broad-based, but the damage was concentrated. Metals bore the brunt, select defensives cracked, and a handful of stocks moved sharply on very specific news.
Here are the top movers and shakers at this hour:
Metal stocks
Metal and mining stocks were deep in the red at midday, with the Nifty Metal index sliding as much as 3.46% to around 11,125. All 15 constituents were trading lower. Shares of Hindustan Copper and Hindustan Zinc were among the worst hit, each falling more than 6%, while National Aluminium Company, Vedanta, and Hindalco Industries also saw sharp declines.
The weakness was largely attributed to profit-booking after a relentless rally. Over the past six months, Hindustan Copper Ltd. had surged nearly 93%, Hindustan Zinc Ltd. about 37%, Vedanta Ltd. over 32%, NALCO roughly 78%, and Hindalco more than 33%. Steel names were no exception. Tata Steel, JSW Steel and Steel Authority of India (SAIL) Ltd. were all lower, as investors chose to book gains rather than test higher levels.
Balaji Amines
Shares of Balaji Amines jumped over 13% intraday after the company disclosed that it had received an eligibility certificate from the Maharashtra government for the expansion of its unit under the state’s Package Scheme of Incentives.
The company said it is eligible for an Industrial Promotion Subsidy of Rs 258.01 crore, equivalent to 50% of the SGST payable on eligible sales in Maharashtra. In addition, the firm will receive an exemption from electricity duty and a 100% waiver on stamp duty for seven years, valid until December 2030.
IRB Infrastructure
Shares of IRB Infrastructure Developers were trading about 2.4% higher at midday after the company reported a 12% year-on-year rise in toll revenue for December 2025, taking collections to Rs 754 crore.
The IRB MP Motorway in Maharashtra contributed Rs 170.3 crore, while the Ahmedabad–Vadodara Super Express Tollway and the Hyderabad ORR also posted healthy growth. Adding to the positive sentiment, the company recently secured a Rs 3,087 crore toll-operate-transfer project from NHAI in Odisha.
Angel One
Shares of Angel One Ltd. were down around 1.7% even as the company said its board will consider a proposal to split its equity shares and declare its first interim dividend for FY26.
The stock split, subject to shareholder approval, would be the first in the company’s history and is aimed at improving liquidity.
HDFC Bank
Shares of HDFC Bank Ltd. were trading nearly 1% lower, extending their losing streak to a fourth straight session ahead of the lender’s December quarter earnings due on January 17.
The stock has fallen close to 4% over the past four sessions.
PC Jeweller
Shares of PC Jeweller Ltd. slipped about 2.3% despite management reporting roughly 37% year-on-year growth in standalone income for the December quarter, aided by festive and wedding demand.
The pullback came after a strong recent rally.
National Aluminium Company
Shares of National Aluminium Company fell nearly 6%, snapping a four-day rally that had lifted the stock about 14% to record levels.
The decline mirrored the broader sell-off in metal stocks and was driven by profit-booking rather than any stock-specific development, as sentiment across the sector turned cautious.
IDFC First Bank
Shares of IDFC First Bank Ltd. were trading close to 2% higher after the lender announced a reduction in savings account interest rates across several balance slabs, effective January 9.
Under the revised structure, deposits above Rs 1 lakh and up to Rs 10 lakh will now earn 5%, down from 7% earlier. The move is seen as supportive of margins, and the market responded positively despite the broader weakness.