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Key gauges continue to trade lower in morning deals
Jan-29-2026

Indian equity benchmarks continued to trade lower in morning deals, as investors turned cautious ahead of the Union Budget presentation on Sunday. Traders overlooked credit ratings agency, Crisil’s report stated that the ongoing civil and political unrest in Iran has not had any significant impact on India Inc's global trade, or the credit profiles of domestic corporates so far. Traders also paid no heed towards government data showed India's industrial production growth accelerated to over a two-year high of 7.8 per cent in December 2025, driven by strong performances in mining, manufacturing and electricity. Sector-wise, fertiliser sector’s stocks remained in focus as provisional data released by the Fertiliser Association of India (FAI) said urea sales in the country increased 3.8 per cent to 31.16 million tonnes during April-December 2025 on account of higher imports, even as domestic production declined marginally. On the global front, Asian markets are trading mostly in green as the U.S. Federal Reserve kept its policy rate unchanged, as widely expected, after cutting it at three consecutive meetings during the final months of last year. 

The BSE Sensex is currently trading at 81898.59, down by 446.09 points or 0.54% after trading in a range of 81707.94 and 82386.79. There were 6 stocks advancing against 24 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 1.48%, Oil & Gas up by 0.63%, PSU up by 0.41%, Energy up by 0.40% and Basic Materials up by 0.31%, while Consumer Durables down by 2.21%, Auto down by 1.46%, IT down by 1.34%, FMCG down by 1.33% and Consumer Discretionary down by 1.28% were the top losing indices on BSE.

The top gainers on the Sensex were Larsen & Toubro up by 2.41%, Tata Steel up by 1.75%, NTPC up by 1.41%, Eternal up by 1.01% and Axis Bank up by 0.58%. On the flip side, Interglobe Aviation down by 3.03%, Asian Paints down by 2.86%, Maruti Suzuki down by 2.79%, Trent down by 2.54% and Hindustan Unilever down by 2.44% were the top losers.

Meanwhile, domestic credit ratings agency, Crisil has said that the ongoing civil and political unrest in Iran has not had any significant impact on India Inc's global trade, or the credit profiles of domestic corporates so far. However, it cautioned that if tensions persist or escalate, sectors such as oil refining, aviation and crude-linked sectors, such as specialty chemicals, paints, petrochemicals and synthetic textiles may be affected due to rise in crude oil prices. Additionally, companies involved in basmati rice, fruits, and nuts trade may see heightened impact. 

The report said as Iran accounts for over 4 per cent of the world's crude oil supply, any escalation that disrupts its production could spike prices and the same should be watched closely by a country like India that is dependent on imported crude. It noted that while India's direct dependence on Iran for crude-linked products is low, any sharp rise in crude oil prices will have a cascading impact on sectors such as oil refining, aviation, specialty chemicals, paints, flexible packaging and synthetic textiles. It added that the extent of impact will depend on the specific sector's ability to pass on the incremental cost.

According to the report, Brent crude prices have stabilised at lower levels after spiking by $5 per barrel to $65 per barrel in the immediate aftermath of the crisis. It said the country's direct trade with Iran is minuscule, and added that the Gulf nation accounts for 0.3 per cent of total Indian exports and less than 0.1 per cent of Indian imports. Over 60 per cent of the exports to Iran is basmati rice, while imports are mostly fruits and nuts, and some crude-linked products.

The CNX Nifty is currently trading at 25213.30, down by 129.45 points or 0.51% after trading in a range of 25159.80 and 25359.35. There were 12 stocks advancing against 38 stocks declining on the index.

The top gainers on Nifty were Larsen & Toubro up by 2.58%, Tata Steel up by 1.86%, Hindalco up by 1.78%, NTPC up by 1.61% and Eternal up by 1.41%. On the flip side, Interglobe Aviation down by 2.99%, Asian Paints down by 2.89%, Maruti Suzuki down by 2.58%, Trent down by 2.38% and Titan Company down by 2.32% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 88.29 points or 0.17% to 53,447.00, KOSPI increased 20.96 points or 0.41% to 5,191.77, Hang Seng advanced 168.09 points or 0.6% to 27,995.00 and Straits Times rose 2.7 points or 0.05% to 4,912.04.

On the flip side, Taiwan Weighted lost 215.36 points or 0.66% to 32,588.46, Jakarta Composite plunged 543.67 points or 6.53% to 7,776.89 and Shanghai Composite weakened 1.18 points or 0.03% to 4,150.06. 
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