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Indices remain weak in late morning deals
Jan-29-2026

Domestic equity indices remained weak in late morning deals on account of selling in Asian Paints, Mahindra & Mahindra, Interglobe Aviation, Titan and Maruti Suzuki companies’ stocks. Rising crude oil prices weighed on the domestic sentiments.  Crude oil prices rose after President Donald Trump warned Iran that a massive Armada is heading in its direction and time is running out to make a deal on its nuclear program. Further, traders remained on sidelines ahead of the Union Budget for 2026-27 due this weekend. On the BSE sectoral front, traders were seen piling up positions in Metal, Power, Utilities, PSU and Oil & Gas, while selling was witnessed in Consumer Durables, Auto, FMCG, IT and Consumer Disc.

On the global front, Asian markets were trading mixed after the U.S. Federal Reserve kept its benchmark rate steady at a target range of 3.5% to 3.75%. Meanwhile, Jakarta Composite plunged after index provider MSCI had issued a statement warning of a potential downgrade of the country to frontier-market status. Back home, in the stock specific development, Garden Reach Shipbuilders & Engineers (GRSE) surged after the company signed a Memorandum of Understanding with M/s K2 Cranes & Components for the design, development, and manufacture of marine, defence and shipyard cranes and associated equipment.

The BSE Sensex is currently trading at 82076.50, down by 268.18 points or 0.33% after trading in a range of 81707.94 and 82386.79. There were 9 stocks advancing against 21 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 1.82%, Power up by 1.11%, Utilities up by 0.86%, PSU up by 0.74% and Oil & Gas up by 0.67%, while Consumer Durables down by 2.35%, Auto down by 1.61%, FMCG down by 1.51%, IT down by 1.40% and Consumer Disc down by 1.38% were the top losing indices on BSE.

The top gainers on the Sensex were Larsen & Toubro up by 3.43%, NTPC up by 2.81%, Tata Steel up by 2.43%, Eternal up by 1.28% and Axis Bank up by 1.11%. On the flip side, Asian Paints down by 3.31%, Mahindra & Mahindra down by 2.98%, Interglobe Aviation down by 2.92%, Titan down by 2.73% and Maruti Suzuki down by 2.64% were the top losers.

Meanwhile, Moody's Ratings has said that the India-EU free trade pact will be credit positive for India, as lower tariffs and better market access are expected to attract foreign investment, boost manufacturing, and increase the export competitiveness of labor-intensive sector. India and the European Union recently declared the completion of negotiations for the Free Trade Agreement (FTA), described as the ‘mother of all deals.' 

Under the agreement, 93 percent of Indian shipments will gain duty-free access to the 27-nation bloc, while imports of luxury cars and wines from the EU will become more affordable. The deal, concluded after negotiations spanning about two decades, 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.

According to Moody's Ratings, India's successful completion of trade talks with the EU reflects its ongoing commitment to selectively expanding its trade partnerships. Besides, it stated reduced tariffs on EU imports could help lower costs, although such imports remain a smaller share of India's overall import bill.

The CNX Nifty is currently trading at 25278.40, down by 64.35 points or 0.25% after trading in a range of 25159.80 and 25359.35. There were 15 stocks advancing against 35 stocks declining on the index.

The top gainers on Nifty were Larsen & Toubro up by 3.64%, NTPC up by 2.99%, Hindalco up by 2.45%, Tata Steel up by 2.38% and ONGC up by 1.58%. On the flip side, Asian Paints down by 3.47%, Interglobe Aviation down by 2.94%, Mahindra & Mahindra down by 2.93%, SBI Life Insuran down by 2.73% and Maruti Suzuki down by 2.60% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 138.29 points or 0.26% to 53,497.00, KOSPI increased 69.33 points or 1.34% to 5,240.14, Hang Seng advanced 217.09 points or 0.78% to 28,044.00 and Straits Times rose 5.39 points or 0.11% to 4,914.73. However, Taiwan Weighted lost 233.07 points or 0.71% to 32,570.75, Jakarta Composite plunged 492.09 points or 6.29% to 7,828.47 and Shanghai Composite weakened 3.09 points or 0.07% to 4,148.15.
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