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Bourses trim some gains in early afternoon session
Jan-28-2026

Indian markets trimmed some of their gains but remained in green during early afternoon session. Traders took some support as private report stated that Reserve Bank will opt for another 0.25 per cent decrease in key repo rate in its next monetary policy review on February 6, in what is expected to be the last cut in the current easing cycle. Sector wise, agricultural stocks remained in limelight as Commerce Ministry has said that India has gained duty concessions for its agricultural exports under the newly concluded India-European Union (EU) Free Trade Agreement (FTA) for a wide range of products, including processed foods, tea, coffee, spices, table grapes, sheep and lamb meat. On the global front, Asian markets were trading mostly in green ahead of the monetary policy announcement from the US Fed later in the day, though the Fed is expected to leave interest rates unchanged.

The BSE Sensex is currently trading at 82162.78, up by 305.30 points or 0.37% after trading in a range of 81887.93 and 82503.97. There were 22 stocks advancing against 8 stocks declining on the index.

The top gaining sectoral indices on the BSE were Oil & Gas up by 3.65%, Capital Goods up by 3.16%, Energy up by 3.08%, Power up by 2.43% and PSU was up by 2.32%, while Consumer Durables down by 1.28%, FMCG down by 0.97%, Auto down by 0.71%, TECK down by 0.45% and IT was down by 0.32% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 3.77%, Bharat Electronics up by 3.35%, Power Grid up by 1.73%, Trent up by 1.56% and Ultratech Cement up by 1.31%. On the flip side, Asian Paints down by 4.56%, Maruti Suzuki down by 2.04%, Infosys down by 1.84%, Hindustan Unilever down by 1.69% and Sun Pharma down by 1.40% were the top losers.

Meanwhile, with India and the European Union (EU) sealing a landmark free trade agreement (FTA), Nasscom has said that Indian IT firms stand to gain from greater opportunities in Europe, including easier cross-border provision of services and potentially improved mobility for professionals. It noted that FTA fosters deeper EU-India ties in technology, innovation, and digital areas (building on the India-EU Trade and Technology Council) and could lead to more EU investment in India's IT ecosystem, joint ventures, R&D in AI, semiconductors, clean tech, and startups. 

It noted that the FTA diversifies markets for Indian IT exporters, providing a hedge especially at a time when US tariffs and geopolitical shocks have triggered a global trade turmoil, and India's $280-billion IT industry facing visa-related headwinds and macro uncertainties. Further, the Indian IT firms stand to gain from greater opportunities in Europe, including easier cross-border provision of services and potentially improved mobility for professionals.

While the goods see major tariff cuts in the FTA, Nasscom noted that services gains are more about opening markets and rules-based predictability. Under the FTA, EU could lower non-tariff barriers and ease cross-border delivery, giving Indian tech a better access to EU market. Besides, India and EU have agreed on a constructive framework to enable social security agreements in five years with all the EU member states. Nasscom highlighted that the deal supports job creation, MSME growth in tech, and overall confidence for investors in India's services sector. Moreover, the FTA includes dedicated SME chapters with contact points and digital platforms.

The CNX Nifty is currently trading at 25286.10, up by 110.70 points or 0.44% after trading in a range of 25225.70 and 25372.10. There were 33 stocks advancing against 17 stocks declining on the index.

The top gainers on Nifty were ONGC up by 8.41%, Hindalco up by 4.12%, Coal India up by 3.70%, Eternal up by 3.66% and Bharat Electronics up by 3.58%. On the flip side, Tata Consumer down by 5.58%, Asian Paints down by 4.50%, Eicher Motors down by 3.53%, Maruti Suzuki down by 2.10% and Infosys down by 1.71% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 695.05 points or 2.56% to 27,822.00, Taiwan Weighted added 485.9 points or 1.48% to 32,803.82, KOSPI increased 85.96 points or 1.66% to 5,170.81, Nikkei 225 surged 51.46 points or 0.1% to 53,385.00 and Shanghai Composite was up by 11.34 points or 0.27% to 4,151.24. On the flip side, Straits Times fell 23.71 points or 0.48% to 4,899.31 and Jakarta Composite was down by 718.44 points or 8% to 8,261.79.
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