{"id":10087,"date":"2026-01-28T11:10:12","date_gmt":"2026-01-28T11:10:12","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=10087"},"modified":"2026-01-28T11:10:14","modified_gmt":"2026-01-28T11:10:14","slug":"india-stock-market-outlook-28-jan-2026","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/india-stock-market-outlook-28-jan-2026\/","title":{"rendered":"India Stock Market Outlook – 28\u202fJan\u202f2026"},"content":{"rendered":"
\"nifty<\/figure>\n\n\n

Market snapshot<\/h2>\n\n\n\n
Index<\/th>Close<\/th>Change (pts)<\/th>% change<\/th>High\/Low range<\/th><\/tr><\/thead>
BSE\u202fSensex<\/strong><\/td>82,344.68<\/td>+487.20<\/strong><\/td>+0.60\u202f%<\/strong><\/td>82,504\u202f\/\u202f81,815<\/td><\/tr>
Nifty\u202f50<\/strong><\/td>25,342.75<\/td>+167.35<\/strong><\/td>+0.66\u202f%<\/strong><\/td>25,372\u202f\/\u202f25,188<\/td><\/tr>
Nifty MidCap\u202f100<\/strong><\/td>~58,033<\/td>–<\/td>+1.66\u202f%<\/strong><\/td>58,161\u202f\/\u202f57,679<\/td><\/tr>
Nifty SmallCap\u202f100<\/strong><\/td>–<\/td>–<\/td>+2.26\u202f%<\/strong><\/td>–<\/td><\/tr>
Bank\u202fNifty<\/strong><\/td>~59,291<\/td>–<\/td>+0.15\u202f%<\/strong><\/td>59,700\u202f\/\u202f59,240<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Front\u2011line indices advanced for a second day, supported by energy and metal stocks. Mid\u2011 and small\u2011caps outperformed, reflecting broad market participation.<\/em><\/p>\n\n\n\n

Sectoral performance<\/h2>\n\n\n\n
Sector\/Index<\/th>% move<\/th>Note<\/th><\/tr><\/thead>
Oil & Gas (BSE)<\/strong><\/td>+4.0\u202f%<\/strong><\/td>Crude\u2011price rebound lifted ONGC and Oil India, driving the sector to the day\u2019s best performance.<\/td><\/tr>
Capital goods (BSE)<\/strong><\/td>+5.38\u202f%<\/strong><\/td>Construction and industrial stocks rallied on expectations of higher infrastructure spending and the India\u2011EU trade agreement.<\/td><\/tr>
Metals<\/strong><\/td>~+2\u20133\u202f%<\/strong><\/td>Hindalco and Coal India were notable gainers as global metal prices firmed.<\/td><\/tr>
Financials<\/strong><\/td>+1\u20132\u202f%<\/td>Banks and NBFCs like Bajaj\u202fFinance aided the rally; Axis Bank and SBI hit 52\u2011week highs.<\/td><\/tr>
FMCG<\/strong><\/td>-1\u20133\u202f%<\/strong><\/td>Profit\u2011booking hit consumer names; Asian Paints and Tata Consumer Products were notable laggards.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Key statistics<\/h2>\n\n\n\n
Statistic<\/th>Value<\/th><\/tr><\/thead>
Advance\/decline<\/strong><\/td>2,945 advances vs 1,291 declines (137 unchanged), highlighting positive breadth.<\/td><\/tr>
52\u2011week highs\/lows<\/strong><\/td>86 stocks hit new highs; 261 reached new lows.<\/td><\/tr>
Stocks at circuit limits<\/strong><\/td>209 locked at upper circuits; 171 at lower circuits.<\/td><\/tr>
FII flows<\/strong><\/td>Foreign investors were net sellers (about \u20b93,068\u202fcr on 27\u202fJan); domestic institutions were net buyers (~\u20b98,999\u202fcr), cushioning the market.<\/td><\/tr>
Volatility\/Momentum<\/strong><\/td>Indicators (RSI\/MACD) show stabilising momentum; short\u2011covering and dip buying supported a mild positive bias.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Top gainers (Nifty 50 constituents)<\/h2>\n\n\n\n
Stock<\/th>Price (\u20b9)<\/th>Change (%)<\/th><\/tr><\/thead>
Oil & Natural Gas Corp. (ONGC)<\/strong><\/td>267.36<\/td>+7.83\u202f%<\/strong><\/td><\/tr>
Bharat Electronics (BEL)<\/strong><\/td>444.20<\/td>+6.79\u202f%<\/strong><\/td><\/tr>
Eternal Ltd<\/strong><\/td>265.45<\/td>+4.57\u202f%<\/strong><\/td><\/tr>
Hindalco Industries<\/strong><\/td>1,000.20<\/td>+3.99\u202f%<\/strong><\/td><\/tr>
Coal India<\/strong><\/td>438.80<\/td>+3.76\u202f%<\/strong><\/td><\/tr>
Bajaj\u202fFinance<\/strong><\/td>929.20<\/td>+1.59\u202f%<\/td><\/tr>
Adani Enterprises<\/strong><\/td>1,988.60<\/td>+1.49\u202f%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Top losers (Nifty 50 constituents)<\/h2>\n\n\n\n
Stock<\/th>Price (\u20b9)<\/th>Change (%)<\/th><\/tr><\/thead>
Tata Consumer Products<\/strong><\/td>1\u202f,124.10<\/td>\u20135.33\u202f%<\/strong><\/td><\/tr>
Asian Paints<\/strong><\/td>2,507.50<\/td>\u20134.40\u202f%<\/strong><\/td><\/tr>
Eicher Motors<\/strong><\/td>7,005.50<\/td>\u20132.22\u202f%<\/td><\/tr>
Hindustan Unilever<\/strong><\/td>2,352.40<\/td>\u20132.02\u202f%<\/td><\/tr>
Sun Pharmaceutical<\/strong><\/td>1,606.50<\/td>\u20131.98\u202f%<\/td><\/tr>
Nestle India<\/strong><\/td>1,280.20<\/td>\u20131.77\u202f%<\/td><\/tr>
Max Healthcare<\/strong><\/td>958.40<\/td>\u20131.75\u202f%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

What moved the market<\/h2>\n\n\n\n
    \n
  • Energy & commodities led the rally:<\/strong> Crude\u2011oil prices rebounded nearly 3\u202f% after a winter storm disrupted US Gulf Coast production. Upstream companies such as ONGC and Oil India surged, lifting the Oil\u202f&\u202fGas index. Metal prices also firmed, supporting stocks like Hindalco and Coal India.<\/li>\n\n\n\n
  • India\u2013EU free\u2011trade deal optimism:<\/strong> Progress on the landmark India\u2011EU Free Trade Agreement generated positive sentiment, particularly in industrials, capital goods and export\u2011oriented names.<\/li>\n\n\n\n
  • Strong Q3 earnings:<\/strong> TVS\u202fMotor\u2019s December\u2011quarter profit jumped ~49\u202f%, driving its stock higher. Many mid\u2011cap companies reported resilient results, underpinning broader\u2011market strength.<\/li>\n\n\n\n
  • Broad market participation:<\/strong> With nearly 3,000 stocks advancing, the rally was broad\u2011based. Mid\u2011cap and small\u2011cap indices outperformed, reflecting improved risk appetite.<\/li>\n\n\n\n
  • Profit\u2011booking in FMCG:<\/strong> Consumer names such as Tata Consumer, Asian Paints and Hindustan Unilever fell as investors rotated into cyclical sectors.<\/li>\n\n\n\n
  • FII\u2013DII flows:<\/strong> Foreign institutional investors continued to trim positions, but domestic institutions and retail investors absorbed the supply, helping markets close near the day\u2019s highs.<\/li>\n<\/ul>\n\n\n\n

    Global cues<\/h2>\n\n\n\n
      \n
    • US markets mixed:<\/strong> The S&P\u202f500 added about 0.41\u202f% to a record high while the Nasdaq gained 0.91\u202f%; the Dow Jones Industrial Average slipped 0.83\u202f%. Traders await the US Federal Reserve\u2019s policy decision and any guidance on rate cuts.<\/li>\n\n\n\n
    • Asian markets uneven:<\/strong> Japan\u2019s Nikkei\u202f225 fell around 0.55\u202f%, Australia\u2019s ASX\u202f200 dipped 0.38\u202f%, and South Korea\u2019s KOSPI surged 1.76\u202f%. The Hang\u202fSeng and Shanghai Composite were modestly higher.<\/li>\n\n\n\n
    • Commodity moves:<\/strong> Brent crude advanced over 3\u202f% to around US$67.5 per barrel; gold edged higher amid geopolitical uncertainties. Rising crude supported Indian energy stocks.<\/li>\n\n\n\n
    • GIFT Nifty hint:<\/strong> SGX\/GIFT Nifty futures around 25,449 (\u20130.07\u202f%) suggest a muted start for the next session.<\/li>\n<\/ul>\n\n\n\n

      Stocks to watch<\/h2>\n\n\n\n
        \n
      • Chennai Petroleum (Buy \u20b9850\u2013\u20b9840, Target \u20b9950):<\/strong> Consolidating near a key support zone; price holding above Ichimoku cloud support indicates potential for fresh upside.<\/li>\n\n\n\n
      • Oil India (Buy \u20b9448\u2013\u20b9440, Target \u20b9480):<\/strong> Trading near trend support; momentum indicators stabilising amid robust crude\u2011price environment.<\/li>\n\n\n\n
      • Punjab National Bank (Buy near \u20b9122, Target \u20b9130):<\/strong> Pullback to support within an uptrend; strong demand area around \u20b9122 should cap downside.<\/li>\n\n\n\n
      • Other watch\u2011list names:<\/strong> TVS\u202fMotor (post strong earnings), Vedanta (offloading Hindustan\u202fZinc stake via OFS), Bharat Electronics (top gainer), ONGC\/Oil India (benefiting from crude rally), Hindalco and Coal India (metals theme). FMCG heavyweights like Asian Paints and Tata Consumer may remain under pressure after recent profit\u2011taking.<\/li>\n<\/ul>\n\n\n\n

        Corporate updates<\/h2>\n\n\n\n
          \n
        • TVS\u202fMotor Company:<\/strong> Q3 FY26 net profit rose ~49\u202f% to \u20b9841\u202fcr and revenue grew 34\u202f% to \u20b914,756\u202fcr; the stock gained ~2\u202f%.<\/li>\n\n\n\n
        • Vedanta Ltd:<\/strong> Announced an offer for sale of up to 6.7\u202fcr shares (\u22481.59\u202f% stake) in Hindustan\u202fZinc ahead of a planned demerger. The sale is valued around \u20b94,500\u202fcr and will reduce Vedanta\u2019s holding.<\/li>\n\n\n\n
        • Oil companies:<\/strong> ONGC and Oil India rallied as winter\u2011storm\u2011driven supply disruptions sent global crude higher; analysts expect better realisations.<\/li>\n\n\n\n
        • 52\u2011week highs:<\/strong> Axis Bank, BEL, SBI, Tata Steel and Tech\u202fMahindra registered fresh highs, highlighting sector\u2011wide strength.<\/li>\n\n\n\n
        • Profit\u2011booking in FMCG:<\/strong> Asian Paints\u2019 stock fell more than 4\u202f% amid demand challenges and a longer monsoon; Tata Consumer Products dropped over 5\u202f%.<\/li>\n<\/ul>\n\n\n\n

          Technical levels and outlook for 29\u202fJan\u202f2026<\/h2>\n\n\n\n
            \n
          • Nifty 50:<\/strong> Immediate support lies at 24,925\u201325,050<\/strong>; a stronger support band at 24,800\u201324,900<\/strong> is likely to hold unless macro sentiment deteriorates. Resistance is seen at 25,235\u201325,350<\/strong>; above this, supply is expected around 25,425\u201325,500<\/strong> and more aggressively near 25,600\u201325,650<\/strong>. Momentum indicators suggest selling pressure is easing but the index remains below some short\u2011term moving averages. Holding above 25,000 keeps the structure positive; failure to sustain could lead to further consolidation.<\/li>\n\n\n\n
          • Bank Nifty:<\/strong> Support is in the 58,800\u201359,000<\/strong> zone with deeper demand around 58,275\u201358,500<\/strong>. Resistance stands at 59,425\u201359,575<\/strong>; beyond that, 59,775\u201359,975<\/strong> is a strong supply area.<\/li>\n\n\n\n
          • Expected tone:<\/strong> With GIFT Nifty signalling a flat to slightly negative start, the market may open cautiously after two sessions of gains. Traders are likely to book profits near resistance levels while awaiting the US Federal Reserve\u2019s policy statement and domestic Union Budget cues. Mid\u2011 and small\u2011cap momentum remains strong, so stock\u2011specific action should continue. Energy, metals and capital\u2011goods stocks could stay in focus; FMCG may remain under pressure. Overall, expect range\u2011bound trade with a mildly positive bias<\/strong>, provided global cues remain stable and DIIs continue to support the market.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

            Market snapshot Index Close Change (pts) % change High\/Low range BSE\u202fSensex 82,344.68 +487.20 +0.60\u202f% 82,504\u202f\/\u202f81,815 Nifty\u202f50 25,342.75 +167.35 +0.66\u202f% 25,372\u202f\/\u202f25,188 Nifty MidCap\u202f100 ~58,033 – +1.66\u202f% 58,161\u202f\/\u202f57,679 Nifty SmallCap\u202f100 – – +2.26\u202f% – Bank\u202fNifty ~59,291 – +0.15\u202f% 59,700\u202f\/\u202f59,240 Front\u2011line indices advanced for a second day, supported by energy and metal stocks. Mid\u2011 and small\u2011caps outperformed, reflecting […]<\/p>\n","protected":false},"author":3,"featured_media":8209,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[512],"tags":[],"class_list":["post-10087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=10087"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10087\/revisions"}],"predecessor-version":[{"id":10088,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10087\/revisions\/10088"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/8209"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=10087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=10087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=10087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}