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Markets wipe out all losses to trade higher in late afternoon deals
Jan-29-2026

Equity benchmarks wiped out all of initial losses to trade above the neutral lines in late afternoon session. Investors showed optimism about country’s economic resilience after the Economic Survey projected the GDP growth in the range of 6.8% to 7.2% in 2026-27. Further, India’s chief economic advisor V. Anantha Nageswaran has noted that the economy retains momentum, and growth is likely to be sustained into FY27. Besides, sentiments were upbeat as foreign institutional investors (FIIs) turned net buyer on Wednesday’s session after days of relentless selling. The FIIs bought equities worth Rs 480.26 crore on Wednesday.

On the global front, Asian equity markets were trading mostly in green after the U.S. Federal Reserve overnight kept its benchmark rate steady at a target range of 3.5% to 3.75%. European equity markets were trading mostly in green as a raft of upbeat earnings reports offset concerns over extended dollar weakness.

The BSE Sensex is currently trading at 82628.56, up by 283.88 points or 0.34% after trading in a range of 81707.94 and 82676.46. There were 16 stocks advancing against 14 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 2.35%, Power up by 2.08%, Utilities up by 1.44%, Energy up by 1.22% and Basic Materials up by 1.21%, while Consumer Durables down by 1.32%, FMCG down by 0.87%, Auto down by 0.80%, Healthcare down by 0.78% and IT down by 0.78% were the losing indices on BSE.

The top gainers on the Sensex were Larsen & Toubro up by 4.10%, Tata Steel up by 3.87%, Axis Bank up by 3.01%, NTPC up by 2.61% and Eternal up by 2.44%. On the flip side, Asian Paints down by 3.52%, Interglobe Aviation down by 2.69%, Bharat Electronics down by 2.48%, Maruti Suzuki down by 2.30% and Mahindra & Mahindra down by 2.12% were the top losers.

Meanwhile, the negotiations between India and the South American nation Chile, on the proposed comprehensive free trade agreement (FTA) are close to completion. The pact with the South American nation may help India access critical minerals, which are key inputs for electronics, auto, and solar sectors.

The two countries implemented a preferential trade agreement (PTA) in 2006 and are now negotiating to widen its scope for a comprehensive economic partnership agreement (CEPA). CEPA aims to build upon the existing PTA between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSMEs (micro, small, and medium enterprises), and critical minerals.

The bilateral trade between India and Chile is modest. In 2024-25, India's exports to Chile were down 2.46 per cent to just $1.15 billion. Imports, however, grew 72 per cent to $2.60 billion. The review of FTA in goods with the 10-nation Southeast Asian bloc, Asean, is on and is taking a shape.  

The CNX Nifty is currently trading at 25448.00, up by 105.25 points or 0.42% after trading in a range of 25159.80 and 25454.70. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Larsen & Toubro up by 4.07%, Tata Steel up by 3.92%, Tata Motors Passenger Vehicle up by 3.23%, Axis Bank up by 3.07% and Coal India up by 3.04%. On the flip side, Asian Paints down by 3.57%, SBI Life Insurance Company down by 3.03%, Interglobe Aviation down by 2.73%, Bharat Electronics down by 2.40% and Maruti Suzuki down by 2.31% were the top losers.

Asian equity markets were trading mostly in green; Nikkei 225 surged 165.29 points or 0.31% to 53,524.00, Hang Seng advanced 180.09 points or 0.64% to 28,007.00, KOSPI increased 50.44 points or 0.97% to 5,221.25, Straits Times rose 19.74 points or 0.4% to 4,929.08 and Shanghai Composite strengthened 6.74 points or 0.16% to 4,157.98, while Taiwan Weighted lost 267.55 points or 0.82% to 32,536.27 and Jakarta Composite plunged 153.31 points or 1.88% to 8,167.25.

European equity markets were trading mostly in green; UK’s FTSE 100 increased 60.87 points or 0.6% to 10,215.30 and France’s CAC rose 69.02 points or 0.86% to 8,135.70, while Germany’s DAX lost 114.59 points or 0.46% to 24,708.20.
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