Mumbai (Maharashtra) [India], February 11 : The domestic stock markets witnessed a decline in January 2026, underperforming several major global markets during the month, according to a report by Motilal Oswal Mutual Fund.
The Nifty 50 closed at 25,320.65, falling 3.10 per cent in January. Broader markets saw sharper corrections, with the Nifty Midcap 150 declining 3.53 per cent and the Nifty Smallcap 250 dropping 5.52 per cent during the month.
The Nifty 500 index also slipped 3.32 per cent in January, reflecting broad-based pressure across sectors. The report noted that the Nifty 50 was down 3.1 per cent, while midcap and smallcap indices fell 3.5 per cent and 5.5 per cent respectively, indicating stress in the broader market.
Commodities were the only positive contributor, while all other sectors dragged the Nifty 500 lower.
Sector-wise, Metals and Defence recorded gains of around 6 per cent. However, FMCG, Realty and Consumer Durables witnessed declines in the range of 6 per cent to 11 per cent over the month.
In contrast, global markets posted gains in January. In the United States, the S&P 500 rose 1.37 per cent, the Nasdaq 100 gained 1.20 per cent, and the Dow Jones Industrial Average advanced 1.73 per cent during the month.
The report highlighted that US equities ended higher in January, supported by gains in Communication Services and Industrials.
Emerging markets delivered stronger returns compared to India. China rose 4.66 per cent, Taiwan gained 11.09 per cent, Korea surged 28.11 per cent, and Brazil climbed 16.64 per cent in January. South Africa also advanced 8.21 per cent during the month.
Among developed markets, the United Kingdom rose 5.11 per cent and Japan gained 6.59 per cent, while France increased 1.19 per cent, Switzerland added 2.64 per cent, and Germany advanced 1.67 per cent in January.
The data indicated that while global markets recorded positive momentum in January 2026, Indian equities remained under pressure, with benchmark and broader indices closing the month in negative territory.