Here is the recap of day i.e. 16th January,2026, where we take a look at the key headlines from the Financial Markets across the globe, including the tariffs imposed on European countries by US President Donald Trump as well as the key meeting between Carney and Xi. Alongside, we also look at how the Indian Equity Market Indices performed for the day– broader and sector-wise, as well as the institutional trading activity & a look at the Wall Street.
Read through to find out…
WRAP OF THE DAY
The benchmark Indian indices gave up the early gains on 16thJan, having reached strong milestones. Sensex fell off 550 pts from the day’s high after it rose above the 84000 mark, while Nifty saw profit booking after hitting the 25,850 level and closed trading under 25,700. About 1,770 shares advanced, 2,111 shares declined, and 132 shares were unchanged. Profit booking, US Supreme Court overhang on the legality of tariffs, along with persistent FII selling, led to the fall after highs earlier in the day, highlighting volatility. Ont he currency front, the Indian rupee continued to weaken against the USD, slipping to 90.86 on January 16, and the currency moving in a band of 89.98–90.87.
The trend of FIIs selling is unlikely to change in the short-term unless triggered by positive news or events, while providing an opportunity to long term investors to slowly accumulate high-quality growth stocks available at fair valuations, according to a report in Moneycontrol.
Finance Flashcards Newsroom
TOP HEADLINES
President Trump announces 10% tariffs on European countries opposing Greenland plan
US President Donald Trump announced that eight European countries will face 10% tariffs for opposing American control of Greenland from February 1. Having repeatedly stressed Greenland’s strategic importance and mineral wealth, this move signals economic consequences for countries challenging US ambitions, further escalating tensions over the Arctic territory. In a Truth Social post, Trump further added that the tariff would rise to 25 percent on June 1, 2026, and remain in place until Greenland is “completely and totally” sold to the United States.
Trump’s threats against Washington’s NATO partners would create unprecedented tension within the alliance.
Indian Rupee crashes 50 paise to settle near all-time low at 90.84 against USD
The Indian rupee tumbled for the third straight session, losing 50 paise from Wednesday’s close to settle near an all-time low at 90.84 against the US dollar, amid rising crude oil prices and persistent foreign fund outflows. As per forex traders, Volatile global sentiment and a firm American currency accelerated the withdrawal of foreign institutional investors, even as domestic investors resorted to value buying. The rupee faced additional pressure after data released on Thursday showed India’s widening trade deficit, now at $25.04B compared to $24.53B in November.
The Indian currency recorded its lowest closing level of 90.93 on December 16, when it also saw its lifetime low of 91.14 in intraday trade.
China and Canada announce tariff relief after high-stakes meeting between Carney and Xi
After a key meeting in Beijing, the Chinese leader Xi Jinping and Canadian PM Mark Carney announced lower tariffs, signalling a reset in their countries’ relations. According to a report in BBC, China is expected to lower levies on Canadian canola oil from 85% to 15% by 1 March, while Ottawa has agreed to tax Chinese electric vehicles at the most-favoured-nation rate, 6.1%.
The deal comes as a breakthrough after years of strained ties and retaliatory levies, and could see more Chinese investments in Canada, right on America’s doorstep. The last Canadian PM to visit China was Justin Trudeau, who met Xi in Beijing in 2017.
EQUITY MARKET RECAP
INDIAN INDICES
As on 16th January,2026 at 16:00IST
FYI: The Indian Stock Markets are set to remain open on Sunday, February 1 as per standard timings (9:30 to 3:30) for Budget 2026.
GLOBAL MARKET
INDIAN MARKET WRAP
Indices
Sensex dropped 550pts from the day’s high and closed ~187pts higher at 83570.35 while Nifty ended below 25700 (at 25693.35), closing 0.11% higher for the day. The early gains were led by a sharp jump in Infosys after the company raised its revenue growth guidance for FY2,6, which led tothe Nifty IT index hitting a three-week high.
Among the broader indices, BSE Midcap ended marginally lower during the week, while the Small-cap index declined about 0.5% for the week.
Sector and Stock Movement
On the sectoral front, the Nifty IT index jumped more than 3% on strong Infosys Q3 results to emerge as the top gainer on the market for the day, even as Axis Securities remained ‘cautiously optimistic’ for the Indian IT sector for the near future.
Also, with investors awaiting further cues from Q3 results of Reliance Industries, ICICI Bank, HDFC Bank, etc., mild intra-day profit booking was witnessed on the index, which led to Bank Nifty falling below the 60000 mark. Nifty Consumer Durables, Realty, Pharma, and Healthcare shed 2 per cent each, while Nifty Auto index slipped 1.75 per cent and Nifty Media index was down 1% during the week.
Institutional Trading Activity
DIIs purchased shares worth Rs 19135 crore and sold shares worth Rs 15200 crore, which amounts to a net buy of Rs 3935 crore. In contrast, FIIs bought shares worth Rs 20156 crore but sold shares totalling Rs 24506 cror,e i.e. net sold worth Rs 4350 crore.
For the year so far, FIIs have been net sellers of shares worth Rs 21,702 crore, while DIIs have net bought shares worth Rs 30,140 crore.
Thank you for reading our Wrap of the Day for 16thJan.,2026
Until next time..
