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Sensex, Nifty trade firm post India-EU trade deal
Jan-28-2026

Indian equity benchmarks started on a strong note tracking broadly positive cues from Wall Street overnight. Sensex and Nifty were trading firm in early deals on Wednesday amid India-EU trade deal. Besides, market participants were hopeful over sustained economic reforms from the government in the upcoming Budget, to be presented on February 01. The Budget Session of Parliament will start today with the address of the President of India, Droupadi Murmu, to the joint sitting of both Houses - the Lok Sabha and the Rajya Sabha.

On the global front, Asian markets were trading mixed as traders remain cautious ahead of the monetary policy announcement from the US Fed later in the day, though the Fed is expected to leave interest rates unchanged. They also assessed the increasing tariff uncertainty as well as the escalating U.S.-Iran conflict.

Back home, India has blocked China's request for the setting up of a dispute panel at the WTO in a case that Beijing has filed against New Delhi's incentive schemes for auto, battery and electric vehicles. In stock specific development, ONGC soared after signing shipbuilding contracts with South Korea's Samsung Heavy Industries.

The BSE Sensex is currently trading at 82208.99, up by 351.51 points or 0.43% after trading in a range of 81887.93 and 82503.97. There were 19 stocks advancing against 11 stocks declining on the index.

The top gaining sectoral indices on the BSE were Oil & Gas up by 2.88%, Energy up by 2.35%, Capital Goods up by 1.80%, Power up by 1.50% and Industrials up by 1.32%, while Consumer Durables down by 1.37%, Auto down by 0.59%, Consumer Discretionary down by 0.25%, Healthcare down by 0.24%, FMCG down by 0.20% were the top losing indices on BSE.

The top gainers on the Sensex were Axis Bank up by 2.88%, Bharat Electronics up by 1.45%, Reliance Industries up by 1.19%, Power Grid up by 1.14% and NTPC up by 1.12%. On the flip side, Asian Paints down by 5.61%, Maruti Suzuki down by 1.92%, Infosys down by 0.81%, Sun Pharma down by 0.68% and Hindustan Unilever down by 0.59% were the top losers.

Meanwhile, after the announcement of the conclusion of negotiations for the historic trade pact, Commerce Minister Piyush Goyal has said that the free trade agreement (FTA) between India and the EU is likely to come in force within the 2026 calendar year. He said ‘Every agreement stands on its own legs, and this is a wonderful agreement. It'll be taken up for a legal scrubbing on a fast-track basis...We do hope that we should be able to celebrate the entry into force of this agreement within calendar 2026 itself.’

He said the deal has been concluded after negotiations spanning over two decades, and the pact will create a market of about 2 billion people across the world's fourth-largest economy, India, and the second-largest economic bloc, the EU. Taken together, India and the EU account for 25 per cent of the global GDP and one-third (about $11 trillion) of the international trade (about $33 trillion).

He further said that the European Union and India, leaving the sensitive issues aside, have come up with a ‘balanced, equitable, and fair’ free trade agreement, which is a win-win for all sections of industry, both in India and the European Union. He said it will open up a plethora of opportunities for investment.

India and the 27-nation European Union (EU) had concluded talks for the agreement, which is described as 'mother of all deals'. Once implemented, 93 per cent of Indian shipments will enjoy duty-free access to the European Union, while the import of luxury cars and wines from there will become less expensive in India. The EU has become India's 22nd FTA partner.

The CNX Nifty is currently trading at 25292.70, up by 117.30 points or 0.47% after trading in a range of 25225.70 and 25372.10. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were ONGC up by 6.39%, Axis Bank up by 2.75%, Coal India up by 1.60%, Bharat Electronics up by 1.42% and Reliance Industries up by 1.29%. On the flip side, Asian Paints down by 5.67%, Tata Consumer Products down by 4.09%, Eicher Motors down by 2.69%, Maruti Suzuki down by 2.18% and Bajaj Auto down by 2.12% were the top losers.

Asian markets were trading mixed; Hang Seng jumped 642.05 points or 2.31% to 27,769.00, Taiwan Weighted surged 298.83 points or 0.92% to 32,616.75, KOSPI increased 50.00 points or 0.98% to 5,134.85, Shanghai Composite added 20.11 points or 0.49% to 4,160.01. On the other hand, Jakarta Composite plunged 687.65 points or 7.66% to 8,292.58, Nikkei 225 slipped 289.54 points or 0.54% to 53,044.00 and Straits Times was down by 22.47 points or 0.46% to 4,900.55.
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