Overall Indices
| Index / Indicator | Closing Level | Daily Change | Key Takeaway |
|---|---|---|---|
| Sensex (BSE 30) | 82,566.37 | +221.69 pts (+0.27%) | Recovered from early weakness and closed marginally higher. |
| Nifty 50 | 25,418.90 | +76.15 pts (+0.30%) | Held above the 25,400 level as metal and bank stocks provided support. |
| Nifty Bank | ≈59,958 | +≈359 pts (+0.60%) | Private banks and financials saw buying interest. |
Top Gainers & Losers
| Top Gainers (Sensex/Nifty) | Daily Change | Comments |
|---|---|---|
| Tata Steel | +4.6% | Benefited from strong metal prices; sector optimism continued. |
| Larsen & Toubro | +3.6% | Brokerage upgrades outweighed a slight earnings miss. |
| Axis Bank | +3.5% | Gains after robust credit‑growth commentary in the economic survey. |
| NTPC | +2.9% | Buying in utilities and power stocks boosted the counter. |
| Adani Ports | +2.5% | Positive outlook on trade volumes supported the stock. |
| Top Losers (Sensex/Nifty) | Daily Change | Comments |
|---|---|---|
| Asian Paints | –3.7% | Concerns about margin pressure and expensive valuations. |
| Maruti Suzuki | –2.7% | Quarterly earnings missed estimates; profit-taking ensued. |
| InterGlobe Aviation (IndiGo) | –2.6% | Profit booking after recent rally; oil prices remain headwind. |
| TCS | –1.9% | IT stocks weakened as US demand outlook moderated. |
| Bharat Electronics | –1.7% | Defence stock fell amid rotation into other cyclical sectors. |
| Mahindra & Mahindra | –1.7% | Traders booked profits ahead of results and budget announcements. |
| Hindustan Unilever | –1.5% | FMCG sector under pressure; valuations cited as rich. |
What Moved the Market
Domestic Cues:
- The government’s annual economic survey struck a confident tone, forecasting GDP growth of around 6.8 %–7.2 % for FY27. Comments highlighting sustained credit growth and robust capex boosted banking stocks.
- Traders remained cautious ahead of the Union Budget, limiting aggressive buying. A record‑low rupee and persistent foreign investor outflows (FPIs sold equities worth ~₹4.6 billion in January) capped gains.
- Quarterly results influenced individual names: L&T surprised with better‑than‑expected margins, Maruti Suzuki missed profit expectations, and energy PSU NTPC reported resilient performance.
Global Cues:
- US markets closed mixed; the Dow rose slightly while the Nasdaq drifted lower. The Federal Reserve left rates unchanged and signalled a data‑dependent stance, causing the dollar to firm up.
- European markets declined amid geopolitical tensions and trade uncertainties, while Asian markets were mixed.
- Commodity markets were supportive: base metals gained on hopes of Chinese stimulus, lifting domestic metal stocks. Crude oil hovered near US$85/barrel, supporting energy counters.
- The rupee hit a new record low near ₹92 per US dollar as elevated US Treasury yields and uncertainty over India‑US trade talks drove demand for dollars.
Stocks to Watch & Corporate Updates
- Larsen & Toubro: Q3 profit fell about 4.3 % YoY to ₹3,215 crore because of a one‑time labour‑code provision of ₹1,191 crore, though revenue grew ~10.5 % to ₹71,449 crore.
- Mahindra & Mahindra Financial Services: Reported net profit of ₹810 crore (–10 % YoY) but showed strong 20.6 % growth in net interest income.
- Lodha Developers: Posted a modest 1.3 % rise in net profit to ₹956.9 crore; revenue climbed 14.4 % YoY, reflecting sustained demand in real estate.
- Garden Reach Shipbuilders & Engineers (GRSE): Net profit jumped ~74 % YoY to ₹170.7 crore with revenue up ~49 %.
- Shilpa Medicare: Its subsidiary, Shilpa Biologicals, along with partner mAbTree Biologics, received USFDA orphan‑drug designation, potentially enhancing revenue visibility.
- SBI Life Insurance: Net profit grew 5 % YoY to ₹577 crore in Q3 FY26, indicating steady growth.
- Star Health and Allied Insurance: Profit dropped 40 % YoY to ₹128 crore but gross written premium rose to ₹4,624 crore.
- ACC (cement): Net profit fell ~63 % YoY to ₹404 crore despite an 8.6 % revenue rise, impacted by higher fuel costs and base effect.
- SBI Cards: Reported a 45 % YoY increase in net profit to ₹557 crore with revenue growth of 11 % to ₹5,127 crore.
Outlook for Tomorrow (30 January 2026)
- Market Tone: The market is likely to remain range‑bound to mildly cautious as investors await the Union Budget. While domestic fundamentals remain supportive, global uncertainties and the rupee’s weakness may lead to choppy intraday movements.
- Key Supports/Resistances:
– Nifty: Immediate support at 25,200, stronger support near 25,000. Resistance zones lie at 25,450 and 25,600.
– Sensex: Support at approximately 82,000; resistance near 82,800–83,000.
– Nifty Bank: Support at 59,200 and 58,800; resistance at 59,800 and 60,200. - Expected Market Tone: Stock‑specific action will likely dominate. Metals and banking may continue to outperform if institutional flows remain positive. Defensive sectors like FMCG, IT and pharma could see further consolidation. Traders should manage risk carefully, as volatility might pick up near the Budget.
