{"id":10113,"date":"2026-01-29T12:32:10","date_gmt":"2026-01-29T12:32:10","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=10113"},"modified":"2026-01-29T12:32:11","modified_gmt":"2026-01-29T12:32:11","slug":"indian-market-snapshot-29-january-2026","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/indian-market-snapshot-29-january-2026\/","title":{"rendered":"Indian Market Snapshot (29 January\u00a02026)"},"content":{"rendered":"
\"nifty<\/figure>\n\n\n

Overall Indices<\/h2>\n\n\n\n
Index \/ Indicator<\/th>Closing Level<\/th>Daily Change<\/th>Key Takeaway<\/th><\/tr><\/thead>
Sensex (BSE 30)<\/strong><\/td>82,566.37<\/strong><\/td>+221.69 pts (+0.27%)<\/td>Recovered from early weakness and closed marginally higher.<\/td><\/tr>
Nifty 50<\/strong><\/td>25,418.90<\/strong><\/td>+76.15 pts (+0.30%)<\/td>Held above the 25,400 level as metal and bank stocks provided support.<\/td><\/tr>
Nifty Bank<\/strong><\/td>\u224859,958<\/strong><\/td>+\u2248359 pts (+0.60%)<\/td>Private banks and financials saw buying interest.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Top Gainers & Losers<\/h2>\n\n\n\n
Top Gainers (Sensex\/Nifty)<\/th>Daily Change<\/th>Comments<\/th><\/tr><\/thead>
Tata Steel<\/strong><\/td>+4.6%<\/strong><\/td>Benefited from strong metal prices; sector optimism continued.<\/td><\/tr>
Larsen & Toubro<\/strong><\/td>+3.6%<\/strong><\/td>Brokerage upgrades outweighed a slight earnings miss.<\/td><\/tr>
Axis Bank<\/strong><\/td>+3.5%<\/strong><\/td>Gains after robust credit\u2011growth commentary in the economic survey.<\/td><\/tr>
NTPC<\/strong><\/td>+2.9%<\/strong><\/td>Buying in utilities and power stocks boosted the counter.<\/td><\/tr>
Adani Ports<\/strong><\/td>+2.5%<\/strong><\/td>Positive outlook on trade volumes supported the stock.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Top Losers (Sensex\/Nifty)<\/th>Daily Change<\/th>Comments<\/th><\/tr><\/thead>
Asian Paints<\/strong><\/td>\u20133.7%<\/strong><\/td>Concerns about margin pressure and expensive valuations.<\/td><\/tr>
Maruti Suzuki<\/strong><\/td>\u20132.7%<\/strong><\/td>Quarterly earnings missed estimates; profit-taking ensued.<\/td><\/tr>
InterGlobe Aviation (IndiGo)<\/strong><\/td>\u20132.6%<\/strong><\/td>Profit booking after recent rally; oil prices remain headwind.<\/td><\/tr>
TCS<\/strong><\/td>\u20131.9%<\/strong><\/td>IT stocks weakened as US demand outlook moderated.<\/td><\/tr>
Bharat Electronics<\/strong><\/td>\u20131.7%<\/strong><\/td>Defence stock fell amid rotation into other cyclical sectors.<\/td><\/tr>
Mahindra & Mahindra<\/strong><\/td>\u20131.7%<\/strong><\/td>Traders booked profits ahead of results and budget announcements.<\/td><\/tr>
Hindustan Unilever<\/strong><\/td>\u20131.5%<\/strong><\/td>FMCG sector under pressure; valuations cited as rich.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

What Moved the Market<\/h2>\n\n\n\n

Domestic Cues:<\/strong><\/h3>\n\n\n\n
    \n
  • The government\u2019s annual economic survey struck a confident tone, forecasting GDP growth of around 6.8\u00a0%\u20137.2\u00a0% for FY27. Comments highlighting sustained credit growth and robust capex boosted banking stocks.<\/li>\n\n\n\n
  • Traders remained cautious ahead of the Union Budget, limiting aggressive buying. A record\u2011low rupee and persistent foreign investor outflows (FPIs sold equities worth ~\u20b94.6\u00a0billion in January) capped gains.<\/li>\n\n\n\n
  • Quarterly results influenced individual names: L&T surprised with better\u2011than\u2011expected margins, Maruti Suzuki missed profit expectations, and energy PSU NTPC reported resilient performance.<\/li>\n<\/ul>\n\n\n\n

    Global Cues:<\/strong><\/h3>\n\n\n\n
      \n
    • US markets closed mixed; the Dow rose slightly while the Nasdaq drifted lower. The Federal Reserve left rates unchanged and signalled a data\u2011dependent stance, causing the dollar to firm up.<\/li>\n\n\n\n
    • European markets declined amid geopolitical tensions and trade uncertainties, while Asian markets were mixed.<\/li>\n\n\n\n
    • 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.<\/li>\n\n\n\n
    • The rupee hit a new record low near \u20b992 per US dollar as elevated US Treasury yields and uncertainty over India\u2011US trade talks drove demand for dollars.<\/li>\n<\/ul>\n\n\n\n
        <\/ol>\n\n\n\n

        Stocks to Watch & Corporate Updates<\/h2>\n\n\n\n
          \n
        • Larsen\u00a0&\u00a0Toubro:<\/strong> Q3 profit fell about 4.3\u00a0% YoY to \u20b93,215\u00a0crore because of a one\u2011time labour\u2011code provision of \u20b91,191\u00a0crore, though revenue grew ~10.5\u00a0% to \u20b971,449\u00a0crore.<\/li>\n\n\n\n
        • Mahindra\u00a0&\u00a0Mahindra Financial Services:<\/strong> Reported net profit of \u20b9810\u00a0crore (\u201310\u00a0% YoY) but showed strong 20.6\u00a0% growth in net interest income.<\/li>\n\n\n\n
        • Lodha\u00a0Developers:<\/strong> Posted a modest 1.3\u00a0% rise in net profit to \u20b9956.9\u00a0crore; revenue climbed 14.4\u00a0% YoY, reflecting sustained demand in real estate.<\/li>\n\n\n\n
        • Garden Reach Shipbuilders & Engineers (GRSE):<\/strong> Net profit jumped ~74\u00a0% YoY to \u20b9170.7\u00a0crore with revenue up ~49\u00a0%.<\/li>\n\n\n\n
        • Shilpa Medicare:<\/strong> Its subsidiary, Shilpa Biologicals, along with partner mAbTree Biologics, received USFDA orphan\u2011drug designation, potentially enhancing revenue visibility.<\/li>\n\n\n\n
        • SBI\u00a0Life Insurance:<\/strong> Net profit grew 5\u00a0% YoY to \u20b9577\u00a0crore in Q3 FY26, indicating steady growth.<\/li>\n\n\n\n
        • Star\u00a0Health and Allied Insurance:<\/strong> Profit dropped 40\u00a0% YoY to \u20b9128\u00a0crore but gross written premium rose to \u20b94,624\u00a0crore.<\/li>\n\n\n\n
        • ACC (cement):<\/strong> Net profit fell ~63\u00a0% YoY to \u20b9404\u00a0crore despite an 8.6\u00a0% revenue rise, impacted by higher fuel costs and base effect.<\/li>\n\n\n\n
        • SBI\u00a0Cards:<\/strong> Reported a 45\u00a0% YoY increase in net profit to \u20b9557\u00a0crore with revenue growth of 11\u00a0% to \u20b95,127\u00a0crore.<\/li>\n<\/ul>\n\n\n\n

          Outlook for Tomorrow (30 January 2026)<\/h2>\n\n\n\n
            \n
          • Market Tone:<\/strong> The market is likely to remain range\u2011bound to mildly cautious<\/strong> as investors await the Union Budget. While domestic fundamentals remain supportive, global uncertainties and the rupee\u2019s weakness may lead to choppy intraday movements.<\/li>\n\n\n\n
          • Key Supports\/Resistances:<\/strong>
            – Nifty:<\/strong> Immediate support at 25,200<\/strong>, stronger support near 25,000<\/strong>. Resistance zones lie at 25,450<\/strong> and 25,600<\/strong>.
            \u2013 Sensex:<\/strong> Support at approximately 82,000<\/strong>; resistance near 82,800\u201383,000<\/strong>.
            \u2013 Nifty Bank:<\/strong> Support at 59,200<\/strong> and 58,800<\/strong>; resistance at 59,800<\/strong> and 60,200<\/strong>.<\/li>\n\n\n\n
          • Expected Market Tone:<\/strong> Stock\u2011specific 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.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

            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 \u224859,958 +\u2248359 pts (+0.60%) Private banks and financials saw buying […]<\/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-10113","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\/10113","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=10113"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10113\/revisions"}],"predecessor-version":[{"id":10114,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10113\/revisions\/10114"}],"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=10113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=10113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=10113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}