BSE 200

Sensex and Nifty fell as investors booked profits after a two-day rally., Auto stocks declined, led by Maruti Suzuki's below than expected quarterly results., US Fed paused rate cuts, raising caution and volatility in Indian markets.

* Sensex and Nifty fell as investors booked profits after a two-day rally.
* Auto stocks declined, led by Maruti Suzuki's below than expected quarterly results.
* US Fed paused rate cuts, raising caution and volatility in Indian markets.

Sensex and Nifty fell, ending a two-day rally, as investors booked profits amid auto stock declines and cautious sentiment after the US Fed paused rate cuts. Rising volatility, weak global cues, and higher crude prices also pressured Indian equities.

shorts/business/sensex-falls-500-pts-nifty-below-25-300-fed-rate-pause-among-key-factors-behind-market-decline

* Sensex and Nifty fell as investors booked profits after a two-day rally.
* Auto stocks declined, led by Maruti Suzuki's below than expected quarterly results.
* US Fed paused rate cuts, raising caution and volatility in Indian markets.

The equity benchmark indices Sensex and Nifty declined on Thursday, snapping a two-day rally, as investors booked profits amid sharp selling in auto stocks and cautious sentiment following a pause in interest rate cuts by the US Federal Reserve.

At around 10:30 am, the Sensex was trading 453.24 points or 0.55 percent lower at 81,891.44, while the broader Nifty declined to 25,203.80, down 138.95 points or 0.55 percent.

<a href="https://www.moneycontrol.com/india/stockpricequote/transportlogistics/interglobeaviation/IA04">InterGlobe Aviation</a>, Asian Paints and Mahindra &amp; Mahindra were among the major laggards in the Nifty50 pack, declining up to 3 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/ironsteel/tatasteel/TIS">Tata Steel</a> and Larsen &amp; Toubro were among the top gainers, rising up to 3 percent. Market breadth was negative as about 1241 shares advanced, 2240 shares declined, and 165 shares unchanged.
<h3>Key factors behind market decline</h3>
1) Profit booking: Investors booked gains after the benchmarks had advanced nearly one percent over the previous two sessions. Selling pressure was seen across IT, auto and FMCG stocks after the recent rally, which was supported by improved sentiment following the announcement of a free trade agreement with the European Union earlier this week.

2) Fed rate cut pause: Overnight, the US Federal Reserve kept interest rates unchanged, in line with market expectations. Higher interest rates in the US tend to reduce the attractiveness of emerging markets, including India, by supporting the dollar and US Treasury yields. Markets are currently not factoring in another rate cut before the June policy meeting.

The Federal Reserve held rates steady in the 3.50–3.75 percent range after three consecutive quarter-point cuts. Fed Chair Jerome Powell said the US economy remained solid, while noting that inflation was still somewhat elevated, indicating a prolonged pause.

"The Fed decision is likely to lead to short-term challenges in US rate-sensitive sectors. Globally, this may result in mild market weakness as investors adjust to the expectation of no immediate rate cuts," Rajesh Palviya, Head of Research at Axis Securities, said.
<h3><a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-start-2-liveblog-13795738.html" target="_blank">Stock Market LIVE Updates</a></h3>
3) India VIX rises: The India VIX, which measures expected market volatility, rose nearly four percent to 14.03. A rising volatility index reflects increased uncertainty among investors and often leads to cautious trading in equities.

4) Auto stocks under pressure: The Nifty Auto index was among the top sectoral losers, declining up to 1.5 percent. Maruti Suzuki fell after reporting lower-than-expected quarterly profit, impacted by a one-time charge related to the new labour code and higher raw material costs. Weakness in the stock weighed on other auto counters as well, dragging the sector lower.

5) Weak global cues: Asian markets traded lower, with Japan’s Nikkei 225 and China’s Shanghai Composite index in the red. US markets ended mostly flat overnight.

6) Crude oil gains: Brent crude, the global oil benchmark, climbed 1.08 percent to USD 69.14 per barrel. Rising crude prices tend to pressure Indian equities as the country is a major importer of oil.

7) Rupee hits all-time low: The rupee hit an all-time low of 92 against the American currency in early trade on Thursday, weighed down by steady dollar demand and a cautious global mood. Forex traders said the rupee fell after the dollar index rose from its 4-1/2-year lows, following the FED's announcement that it kept rates unchanged at the conclusion of its first policy decision of 2026. Moreover, rising geopolitical uncertainty has increased risk aversion, keeping emerging market currencies under pressure. At the interbank foreign exchange, the rupee opened at 91.95 and lost ground to trade at 92 against the greenback, down 1 paisa from its previous close amid increased month-end dollar demand.
<h3><a href="https://www.moneycontrol.com/news/business/indian-rupee-hits-record-low-of-91-99-versus-us-dollar-13796169.html" target="_blank">Indian rupee hits record low of 91.99 versus US Dollar</a></h3>
<h3>Technical outlook</h3>
Devarsh Vakil, Head of Prime Research at HDFC Securities, said Nifty had extended gains for the second consecutive session on Wednesday, closing 167 points higher at 25,342.

"The short-term trend has turned positive as Nifty crossed its five-day exponential moving average at 25,270. To sustain this momentum, the index needs to hold above the recent swing low of 24,932. Immediate resistance is seen at 25,435, followed by the 50-day EMA at 25,725," he said.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

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Sensex falls 450 pts, Nifty near 25,200: Fed rate pause among key factors behind market decline

Sensex news today: Sensex falls 450 pts, Nifty near 25,200 - Fed rate pause among key factors behind market decline

The equity benchmark indices Sensex and Nifty declined on Thursday, snapping a two-day rally, as investors booked profits amid sharp selling in auto stocks and cautious sentiment following a pause in interest rate cuts by the US Federal Reserve.

At around 10:30 am, the Sensex was trading 453.24 points or 0.55 percent lower at 81,891.44, while the broader Nifty declined to 25,203.80, down 138.95 points or 0.55 percent.

InterGlobe Aviation, Asian Paints and Mahindra &amp;amp; Mahindra were among the major laggards in the Nifty50 pack, declining up to 3 percent, while Tata Steel and Larsen &amp;amp; Toubro were among the top gainers, rising up to 3 percent. Market breadth was negative as about 1241 shares advanced, 2240 shares declined, and 165 shares unchanged.
Key factors behind market decline
1) Profit booking: Investors booked gains after the benchmarks had advanced nearly one percent over the previous two sessions. Selling pressure was seen across IT, auto and FMCG stocks after the recent rally, which was supported by improved sentiment following the announcement of a free trade agreement with the European Union earlier this week.

2) Fed rate cut pause: Overnight, the US Federal Reserve kept interest rates unchanged, in line with market expectations. Higher interest rates in the US tend to reduce the attractiveness of emerging markets, including India, by supporting the dollar and US Treasury yields. Markets are currently not factoring in another rate cut before the June policy meeting.

The Federal Reserve held rates steady in the 3.50–3.75 percent range after three consecutive quarter-point cuts. Fed Chair Jerome Powell said the US economy remained solid, while noting that inflation was still somewhat elevated, indicating a prolonged pause.

&quot;The Fed decision is likely to lead to short-term challenges in US rate-sensitive sectors. Globally, this may result in mild market weakness as investors adjust to the expectation of no immediate rate cuts,&quot; Rajesh Palviya, Head of Research at Axis Securities, said.
Stock Market LIVE Updates
3) India VIX rises: The India VIX, which measures expected market volatility, rose nearly four percent to 14.03. A rising volatility index reflects increased uncertainty among investors and often leads to cautious trading in equities.

4) Auto stocks under pressure: The Nifty Auto index was among the top sectoral losers, declining up to 1.5 percent. Maruti Suzuki fell after reporting lower-than-expected quarterly profit, impacted by a one-time charge related to the new labour code and higher raw material costs. Weakness in the stock weighed on other auto counters as well, dragging the sector lower.

5) Weak global cues: Asian markets traded lower, with Japan’s Nikkei 225 and China’s Shanghai Composite index in the red. US markets ended mostly flat overnight.

6) Crude oil gains: Brent crude, the global oil benchmark, climbed 1.08 percent to USD 69.14 per barrel. Rising crude prices tend to pressure Indian equities as the country is a major importer of oil.

7) Rupee hits all-time low: The rupee hit an all-time low of 92 against the American currency in early trade on Thursday, weighed down by steady dollar demand and a cautious global mood. Forex traders said the rupee fell after the dollar index rose from its 4-1/2-year lows, following the FED's announcement that it kept rates unchanged at the conclusion of its first policy decision of 2026. Moreover, rising geopolitical uncertainty has increased risk aversion, keeping emerging market currencies under pressure. At the interbank foreign exchange, the rupee opened at 91.95 and lost ground to trade at 92 against the greenback, down 1 paisa from its previous close amid increased month-end dollar demand.
Indian rupee hits record low of 91.99 versus US Dollar
Technical outlook
Devarsh Vakil, Head of Prime Research at HDFC Securities, said Nifty had extended gains for the second consecutive session on Wednesday, closing 167 points higher at 25,342.

&quot;The short-term trend has turned positive as Nifty crossed its five-day exponential moving average at 25,270. To sustain this momentum, the index needs to hold above the recent swing low of 24,932. Immediate resistance is seen at 25,435, followed by the 50-day EMA at 25,725,&quot; he said.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Fed Leaves Rates Unchanged; Can The Nifty Extend Gains For Third Day?

Indian benchmark indices Sensex and Nifty are likely see a flat to negative start on January 29, following the GIFT Nifty, which was trading marginally lower at around 25,390.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

Indian equity markets extended their winning streak for the second consecutive session on January 28, supported by buying interest in energy and metal names.

After opening on a positive note, the market advanced further in the first half, with the Nifty testing an intraday high of 25,372.10. However, mid-session profit booking pared most of the gains, but final hour buying helped to close near day's high.

At close, the Sensex was up 487.20 points or 0.60 percent at 82,344.68, and the Nifty was up 167.35 points or 0.66 percent at 25,342.75.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading lower at around 25,390, indicating a flat to negative start for the day.

Asian Equities (Fall)

Asia's runaway stock markets took a breather on Thursday as mixed earnings out of the tech sector stirred caution ahead of Apple's results, while the dollar looked shaky despite verbal support from both U.S. and European officials.



US Equities (Up)

The Nasdaq rose ​slightly with a boost from chip stocks while the S&amp;amp;P 500 closed virtually unchanged on Wednesday as investor reactions were muted after the Federal Reserve ‌kept interest rates unchanged as expected and gave little indication when borrowing costs might fall again.

The Dow Jones Industrial Average rose 12.19 points, or 0.02%, to 49,015.60, the S&amp;amp;P 500 lost 0.57 points, or 0.01%, to 6,978.03 and the Nasdaq Composite gained 40.35 points, or 0.17%, ⁠to 23,857.45.



US Bond Yield (Mixed)

Yields on the 10-year and 2-year US Treasuries were little changed at 4.24% and 3.56%, respectively.



Dollar Index (Down)

The dollar index fell 0.2%, retracing some of the gains made after Treasury Secretary Scott Bessent said the US hadn’t intervened to support the yen and reiterated a strong dollar policy.



Asian Currencies (Mixed)

Asian currencies were trading mixed in the early Thursday trade with Thai Baht leading the losers followed by Philippines Peso, Malaysian Ringgit, Taiwan Dollar.



Crude (Up)

Oil prices rose for a third day on Thursday on increasing concerns the U.S. may carry out a military attack on key Middle Eastern producer Iran that could disrupt supply from the region.



Gold (Gains)

Gold jumped to a record high above $ 5,500 an ounce, extending a breakneck rally fueled by US dollar weakness and investor flight from sovereign bonds and currencies.



Fund Flow Action

After selling equities for fifteen consecutive sessions, foreign institutional investors (FIIs) switched to buying mode on January 28, picking up shares worth Rs 480 crore. At the same time, domestic institutional investors (DIIs) remained strong buyers, investing Rs 3,360 crore in the market.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Tick: Top global cues to watch in today’s trade

Sensex Today | Stock Market LIVE Updates: Nifty midcap and smallcap indices are trading flat. IT, media, pharma, FMCG, auto, consumer durables down 0.5-1%, while metal, oil &amp; gas, PSU bank up 0.3-1.8%. Hindustan Copper, Nippon Silver ETF, Hindustan Zinc, Nippon Gold Bees and Vedanta are among most active shares on the NSE.

Stock Market LIVE Updates: Sensex down 300 pts, Nifty near 25,250; Hindustan Copper, Hind Zinc, Vedanta most active

Live Blog

Sensex Today | Stock Market LIVE Updates: Nifty midcap and smallcap indices are trading flat. IT, media, pharma, FMCG, auto, consumer durables down 0.5-1%, while metal, oil &amp;amp; gas, PSU bank up 0.3-1.8%. Hindustan Copper, Nippon Silver ETF, Hindustan Zinc, Nippon Gold Bees and Vedanta are among most active shares on the NSE.

Markets may be disappointed if Budget misses fiscal consolidation roadmap, Another negative trigger could be capital gains tax tweaks, capex dilution, Earnings recovery appears gradual but increasingly broad-based

* Markets may be disappointed if Budget misses fiscal consolidation roadmap
* Another negative trigger could be capital gains tax tweaks, capex dilution
* Earnings recovery appears gradual but increasingly broad-based

shorts/business/daily-voice-this-cio-flags-budget-triggers-that-could-spook-dalal-street

* Markets may be disappointed if Budget misses fiscal consolidation roadmap
* Another negative trigger could be capital gains tax tweaks, capex dilution
* Earnings recovery appears gradual but increasingly broad-based

"The markets could potentially be disappointed if there is any slippage from the stated fiscal consolidation roadmap, as deviations from deficit targets would raise concerns around macro discipline and higher borrowing costs," said Deepan Kapadia, the Executive Director &amp; CIO – Portfolio Management Services at Spark Capital PWM in an interview to Moneycontrol.

According to him, another negative trigger for the markets could be capital gains tax tweaks, and capex dilution in favour of aggressive deficit cutting could also disappoint.

He believes earnings recovery appears gradual but increasingly broad-based. December quarter results indicate margin stabilisation and improving demand in financials, industrials, and select consumption segments, he said.

If you were the Finance Minister, what would be the three key priorities in the Union Budget?

If I were the Finance Minister, my three key priorities in the Union Budget would be to preserve growth while maintaining fiscal credibility by adhering to the fiscal consolidation path without sacrificing growth-supportive spending. I would also sustain public capex to crowd in private investment, continuing a strong push on infrastructure, logistics, power, and manufacturing-linked capital expenditure to support the investment cycle and drive productivity gains.

Finally, I would support consumption in a targeted manner by providing calibrated relief to middle-income households and employment-linked incentives, rather than adopting broad populist measures.

What aspects of the Union Budget could potentially disappoint the markets?

The markets could potentially be disappointed if there is any slippage from the stated fiscal consolidation roadmap, as deviations from deficit targets would raise concerns around macro discipline and higher borrowing costs. Another negative trigger could be capital gains tax tweaks, particularly an increase in short-term or long-term capital gains tax to bridge fiscal gaps, which would be viewed unfavourably by equity markets.

Additionally, capex dilution in favour of aggressive deficit cutting could also disappoint, as markets may worry that fiscal consolidation at the expense of capital expenditure would weaken the growth multiplier and dampen earnings momentum.

Is the EU–India trade deal likely to be larger than a potential US–India trade deal?

Yes, the EU–India trade agreement is likely to be broader and structurally more significant, as it assumes greater stability and spans goods, services, digital trade, sustainability, and regulatory alignment. In contrast, a potential US–India deal is more likely to remain sector-specific and transactional, shaped by geopolitical and electoral considerations.

Additionally, while negotiations with the US are often constrained by sudden tariff hikes and ‘America First’ rhetoric, the EU deal offers a more structured, rules-based framework that supports services and high-end manufacturing.

What are the three major risks facing India at present?

At present, India faces three major risks. The first is global macro risk, where slower global growth or renewed financial market volatility could impact exports and capital flows. The second is geopolitical and commodity shocks, particularly oil price volatility, which can influence inflation, fiscal dynamics, and the rupee.

The third is equity valuation risk, as current market valuations leave limited room for earnings disappointment in the near term.

Are earnings beginning to improve and likely to catch up with valuations after the December quarter results?

Earnings recovery appears gradual but increasingly broad-based. December quarter results indicate margin stabilisation and improving demand in financials, industrials, and select consumption segments. While pockets of the market remain expensive, FY26 earnings visibility is improving, which could help justify current valuations if momentum sustains.

Does sentiment toward the rupee remain downbeat?

Near-term sentiment remains cautiously negative due to high US yields and a strong dollar. However, RBI’s active intervention, healthy FX reserves, and India’s growth resilience limit downside risks. Medium-term outlook points to stability rather than sharp appreciation.

What are your expectations from the RBI’s February meeting?

The RBI’s February meeting is expected to result in a policy pause, with a focus on liquidity management while maintaining a balanced stance between growth and inflation.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Daily Voice: This CIO flags Budget triggers that could spook Dalal Street

&quot;The markets could potentially be disappointed if there is any slippage from the stated fiscal consolidation roadmap, as deviations from deficit targets would raise concerns around macro discipline and higher borrowing costs,&quot; said Deepan Kapadia, the Executive Director &amp;amp; CIO – Portfolio Management Services at Spark Capital PWM in an interview to Moneycontrol.

According to him, another negative trigger for the markets could be capital gains tax tweaks, and capex dilution in favour of aggressive deficit cutting could also disappoint.

He believes earnings recovery appears gradual but increasingly broad-based. December quarter results indicate margin stabilisation and improving demand in financials, industrials, and select consumption segments, he said.

If you were the Finance Minister, what would be the three key priorities in the Union Budget?

If I were the Finance Minister, my three key priorities in the Union Budget would be to preserve growth while maintaining fiscal credibility by adhering to the fiscal consolidation path without sacrificing growth-supportive spending. I would also sustain public capex to crowd in private investment, continuing a strong push on infrastructure, logistics, power, and manufacturing-linked capital expenditure to support the investment cycle and drive productivity gains.

Finally, I would support consumption in a targeted manner by providing calibrated relief to middle-income households and employment-linked incentives, rather than adopting broad populist measures.

What aspects of the Union Budget could potentially disappoint the markets?

The markets could potentially be disappointed if there is any slippage from the stated fiscal consolidation roadmap, as deviations from deficit targets would raise concerns around macro discipline and higher borrowing costs. Another negative trigger could be capital gains tax tweaks, particularly an increase in short-term or long-term capital gains tax to bridge fiscal gaps, which would be viewed unfavourably by equity markets.

Additionally, capex dilution in favour of aggressive deficit cutting could also disappoint, as markets may worry that fiscal consolidation at the expense of capital expenditure would weaken the growth multiplier and dampen earnings momentum.

Is the EU–India trade deal likely to be larger than a potential US–India trade deal?

Yes, the EU–India trade agreement is likely to be broader and structurally more significant, as it assumes greater stability and spans goods, services, digital trade, sustainability, and regulatory alignment. In contrast, a potential US–India deal is more likely to remain sector-specific and transactional, shaped by geopolitical and electoral considerations.

Additionally, while negotiations with the US are often constrained by sudden tariff hikes and ‘America First’ rhetoric, the EU deal offers a more structured, rules-based framework that supports services and high-end manufacturing.

What are the three major risks facing India at present?

At present, India faces three major risks. The first is global macro risk, where slower global growth or renewed financial market volatility could impact exports and capital flows. The second is geopolitical and commodity shocks, particularly oil price volatility, which can influence inflation, fiscal dynamics, and the rupee.

The third is equity valuation risk, as current market valuations leave limited room for earnings disappointment in the near term.

Are earnings beginning to improve and likely to catch up with valuations after the December quarter results?

Earnings recovery appears gradual but increasingly broad-based. December quarter results indicate margin stabilisation and improving demand in financials, industrials, and select consumption segments. While pockets of the market remain expensive, FY26 earnings visibility is improving, which could help justify current valuations if momentum sustains.

Does sentiment toward the rupee remain downbeat?

Near-term sentiment remains cautiously negative due to high US yields and a strong dollar. However, RBI’s active intervention, healthy FX reserves, and India’s growth resilience limit downside risks. Medium-term outlook points to stability rather than sharp appreciation.

What are your expectations from the RBI’s February meeting?

The RBI’s February meeting is expected to result in a policy pause, with a focus on liquidity management while maintaining a balanced stance between growth and inflation.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

10 out of 18 years BSE 200 has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	11,494.50	11,534.21	11,604.89	11,423.82	11,384.11	11,313.43	11,273.72
Fibonacci	11,465.99	11,492.04	11,534.21	11,423.82	11,381.65	11,355.60	11,313.43
Camarilla	11,464.91	11,475.03	11,485.15	11,423.82	11,444.67	11,434.55	11,424.43

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