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EQUITY
Key gauges end higher for 3rd consecutive session
Jan-29-2026

Indian equity benchmarks pared initial losses and closed higher for the third consecutive session on Thursday, helped by a rally in blue-chip Tata Steel and the Economic Survey projecting the GDP growth of 6.8-7.2 per cent for the next fiscal. A rally in global markets and fresh foreign fund inflows helped key indices recover from lows.

Some of the important factors in trade: 

India’s industrial output growth surges to 7.8% in December: The 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.

Negotiations between India, Chile on proposed FTA close to completion: The negotiations between India and the South American nation Chile, on the proposed comprehensive free trade agreement (FTA) are close to completion. 

India, US trade deal at very advanced stage: India and the US have made very significant progress in their negotiations for a trade deal, with New Delhi maintaining steady momentum in talks with Washington for a positive outcome even during the final stages of concluding its free trade pact with the European Union.

India to emerge as largest contributor to global oil demand growth till 2050: The Organization of the Petroleum Exporting Countries (OPEC) in its report has said that India is projected to be the largest contributor to global oil demand growth till 2050, driven primarily by transportation, petrochemicals and industrial activity. 

Global front: European markets were trading mostly in green as a raft of upbeat earnings reports offset concerns over extended dollar weakness and escalating U.S.-Iran tensions. Asian markets settled mixed as U.S.-Iran tensions escalated and tech earnings proved to be a mixed bag.

Finally, the BSE Sensex rose 221.69 points or 0.27% to 82,566.37 and the CNX Nifty was up by 76.15 points or 0.30% to 25,418.90.   

The BSE Sensex touched high and low of 82,689.96 and 81,707.94 respectively. There were 13 stocks advancing against 17 stocks declining on the index.        

The top gaining sectoral indices on the BSE were Metal up by 2.69%, Power up by 2.18%, Utilities up by 1.48%, Basic Materials up by 1.33% and Telecom up by 1.09%, while Consumer Durables down by 1.53%, IT down by 0.88%, FMCG down by 0.87%, Healthcare down by 0.83% and Auto down by 0.72% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 4.41%, Larsen & Toubro up by 3.66%, Axis Bank up by 3.32%, Eternal up by 3.28% and NTPC up by 2.84%. On the flip side, Asian Paints down by 3.75%, Interglobe Aviation down by 2.65%, Maruti Suzuki down by 2.54%, Bharat Electronics down by 1.96% and Mahindra & Mahindra down by 1.83% 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.

CNX Nifty touched high and low of 25,458.15 and 25,159.80 respectively. There were 25 stocks advancing against 25 stocks declining on the index.    

The top gainers on Nifty were Tata Steel up by 4.49%, Larsen & Toubro up by 3.80%, Axis Bank up by 3.42%, Tata Motors Passenger up by 3.39% and Eternal up by 3.00%. On the flip side, Asian Paints down by 3.85%, Interglobe Aviation down by 2.71%, SBI Life Insurance down by 2.69%, Maruti Suzuki down by 2.64% and Tata Consumer Product down by 2.54% were the top losers.

European markets were trading mostly in green; UK’s FTSE 100 increased 35.07 points or 0.35% to 10,189.50 and France’s CAC rose 45.82 points or 0.57% to 8,112.50, while Germany’s DAX lost 248.59 points or 1% to 24,574.20.

Asian markets settled mixed on Thursday as tensions between the US and Iran have escalated. Iran’s foreign minister said the Iranian armed forces are ready to ‘immediately and powerfully’ respond to any possible attack by the United States, hours after US President Donald Trump reiterated a threat to take military action against the country. Investors are currently maintaining a cautious stance after the US Federal Reserve signalled little urgency to resume cuts following contentious reductions at its previous three meetings. Meanwhile, all investors’ eyes are now on Apple after Microsoft's quarterly results highlighted rising costs linked to heavy AI investment. Seoul shares extended gains, driven by strong corporate earnings from major chipmakers and automakers. China’s Shanghai Composite index gained, with real estate shares surging after reports emerged that Chinese property developers are no longer required to report monthly data related to the country's ‘three red lines’ policy.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

4,157.98

6.75

0.16

Hang Seng

27,968.09

141.18

0.51

Jakarta Composite

8,232.20

-88.35

-1.06

KLSE Composite

1,730.89

-25.60

-1.46

Nikkei 225

53,375.60

16.89

0.03

Straits Times

4,930.03

20.69

0.42

KOSPI Composite

5,221.25

50.44

0.98

Taiwan Weighted

32,536.27

-267.55

-0.82
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