Indices drift lower; breadth positive
29-Jan-2026
The key equity indices opened the session on a subdued note, slipping marginally amid mixed cues from global markets as cautious investor sentiment outweighed optimism surrounding the conclusion of the India–EU free trade agreement (FTA). Participants are keeping a close watch on the rupee’s movement, ongoing Q3 corporate earnings, and evolving geopolitical developments. Attention is also on quarterly results from ITC, Tata Motors, and Vedanta, scheduled to be announced later today. Meanwhile, the Nifty traded below the 25,300 level.
IT, auto and FMCG shares witnessed selling pressure while metal, oil & gas and PSU Bank stocks advanced.
At 09:25 IST, the barometer index, the S&P BSE Sensex declined 184.81 points or 0.24% to 82,137.24. The Nifty 50 index fell 63.30 points or 0.25% to 25,279.45.
In the broader market, the S&P BSE Mid-Cap index rose 0.20% and the S&P BSE Small-Cap index added 0.02%.
The market breadth was positive. On the BSE, 1,564 shares rose and 1,450 shares fell. A total of 174 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 480.26 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,360.59 crore in the Indian equity market on 28 January 2026, provisional data showed.
Stocks in Spotlight:
Lodha Developers shed 0.20%. The company reported a 1.3% YoY rise in consolidated net profit to Rs 956.9 crore, while revenue from operations increased 14.4% to Rs 4,672.5 crore in Q3 FY26 over Q3 FY25.
LT Foods fell 0.46%. The company reported consolidated net profit rose 9.8% to Rs 157.4 crore on a 23.5% increase in revenue from operations to Rs 2,809.2 crore in Q3 FY26 over Q3 FY25.
Cochin Shipyard advanced 0.76%. The company reported an 18.3% YoY decline in consolidated net profit to Rs 144.7 crore, even as revenue from operations rose 17.7% to Rs 1,350.4 crore in Q3 FY26 over Q3 FY25.
Economy:
India’s industrial production rose to a 26-month high of 7.8% in December, up from 7.2% in November, according to data released by the government on January 28. The sharp pickup was driven by a broad-based acceleration across manufacturing, capital goods and infrastructure-linked segments, signalling resilient momentum at the end of the calendar year.
Numbers to Track:
The yield on India's 10-year benchmark federal paper advanced 0.30% to 6.723 as compared with previous close of 6.703.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 91.9775 compared with its close of 91.9975 during the previous trading session.
MCX Gold futures for 5 February 2026 settlement jumped 5.78% to Rs 1,75,597.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.24% to 96.12.
The United States 10-year bond yield advanced 0.33% to 4.265.
In the commodities market, Brent crude for March 2026 settlement advanced 75 cents or 1.10% to $69.15 a barrel.
Global Markets:
Asia market mostly traded lower on Thursday after the U.S. Federal Reserve overnight kept its benchmark rate steady at a target range of 3.5% to 3.75%.
Investors will be keeping an eye on developments in Indonesia after the benchmark Jakarta Composite plunged over 8% on Wednesday after index provider MSCI had issued a statement warning of a potential downgrade of the country to frontier-market status.
Meanwhile, Singapore’s central bank left its monetary policy unchanged Thursday, while warning of upside risks to inflation and demand as the city-state’s economic outlook stays resilient. The country’s benchmark Straits Times Index inched 0.19% higher.
Overnight in the U.S., the S&P 500 reached a milestone level, hitting 7,000 for the first time, before pulling back as the Federal Reserve left interest rates unchanged and upped its economic growth assessment.
The broad market index ended the day down 0.01% at 6,978.03. Earlier, the S&P 500 was up 0.3% on the day, hitting an all-time intraday high of 7,002.28.
The Dow Jones Industrial Average added 0.02% to close at 49,015.60. The Nasdaq Composite outperformed and gained 0.17%, settling at 23,857.45.