The Indian stock market concluded the week ending Friday, January 16, 2026, with its benchmark indices, SENSEX and NIFTY50, largely flat. The SENSEX experienced a marginal slip of 0.01% for the week, while the NIFTY50 recorded a minor gain of 0.04%. This range-bound movement reflected a cautious market sentiment, influenced by factors such as persistent foreign fund outflows and the ongoing corporate earnings season. Conversely, the broader market indices generally showed more positive performance. The Nifty Midcap 100 registered modest weekly gains of 0.2%, and the Nifty Smallcap 100 advanced by 0.5% for the week, indicating continued investor interest in these segments. However, some reports indicated that the Smallcap index actually fell by 0.45% for the week. The original article's claim that "ONGC and Tech Mahindra lead gains" is partially inaccurate. Tech Mahindra indeed demonstrated significant gains for the week, with its stock closing up 5.16% on January 16, propelled by positive Q3 FY26 earnings. However, ONGC's stock recorded a slight decline of 0.43% on January 16. While ONGC did report a positive weekly return of 3.84%, other IT heavyweights like Infosys surged even higher by 5.58% on January 16, following stronger-than-expected Q3 results, making Infosys a more prominent leader in daily gains. Therefore, the assertion that ONGC "lead gains" is misleading for the final trading day and exaggerated for the week when compared to other top performers. The headline's phrasing regarding "broader markets shine" also represents a slight overstatement, given the mixed performance within the broader indices and modest gains reported. Overall, the week was characterized by selective stock movements, particularly within the IT sector, which received a boost from robust quarterly earnings reports from major companies. The Nifty IT index notably gained over 3% on January 16.