Mumbai, January 20, 2026: Domestic equity markets experienced a significant downturn on Tuesday as investors reacted to escalating international tensions. The BSE Sensex closed at 82,180.47, marking a substantial decline of 1,065.71 points, while the NSE Nifty 50 finished the session at 25,232.50 after losing 353 points. This widespread selling wiped out nearly nine lakh crore rupees in investor wealth in a single day, driven largely by fears of a renewed trade war. Global sentiment soured following reports of potential tariffs between major Western powers, particularly involving the United States and European nations regarding the status of Greenland.
While the stock market struggled, precious metals witnessed an unprecedented surge as investors rushed toward safe-haven assets. Gold reached a historic psychological milestone in Mumbai, with 24-carat prices quoted at 1,50,040 rupees per ten grams. Silver followed a similar trajectory, jumping 3.82 percent to settle at 3,22,118 rupees per kilogram. Market participants noted that silver has gained approximately 85,000 rupees in the first twenty days of the year, supported by a combination of high industrial demand and geopolitical anxiety.
On the currency front, the Indian rupee depreciated to a record low of 90.97 against the US dollar. Persistent outflows of foreign capital and a strong demand for the dollar from importers contributed to the local currency’s weakness. In the energy sector, Brent crude oil prices remained relatively stable but slightly lower at 62.64 dollars per barrel. However, the benefits of lower global oil prices were largely offset for the domestic economy by the falling value of the rupee, which makes energy imports more expensive in local terms.
