Closing Bell: Indian market dodges DeepSeek rout, Sensex rises 535 pts, Nifty at 22,950

Market Close | Indices break 2-day losing streak

Indian equity indices broke 2-day losing streak and ended higher with Nifty at 22,950 on January 28. At close, the Sensex was up 535.24 points or 0.71 percent at 75,901.41, and the Nifty was up 128.1 points or 0.56 percent at 22,957.25.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Prashanth Tapse, Senior VP (Research), Mehta Equities

Markets witnessed a relief rally after the recent weakness, but undertone remained bearish as most of the sectors ended in red which pulled down benchmark indices from the day's high levels. Investors remain cautious due to growing global uncertainty and disappointing domestic economic indicators. However, optimism in banking, auto and realty aided sentiment even as worries over Trump's trade policies and fading chances of any rate cut in next month's credit policy weighed.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty remained volatile throughout the session before closing below 23,000, reinforcing bearish sentiment in the market. In the near term, the index is likely to remain under bearish control as long as it stays below 23,000 on a closing basis. On the downside, immediate support is placed at 22,800, and a breach below this level could lead to a decline toward 22,500. Conversely, a close above 23,000 might provide some short-term relief to the market.

Earnings Watch | UTI AMC Q3 net profit down 18.9% at Rs 150.7 crore Vs Rs 185.7 crore, YoY

Earnings Watch | Suzlon Energy Q3 net profit up 90.6% at Rs 387 crore Vs Rs 203 crore, YoY

Earnings Watch | Colgate Palmolive Q3 net profit down 2.3% at Rs 322.8 crore Vs Rs 330 crore, YoY

Prashanth Tapse, Senior VP (Research), Mehta Equities

Markets witnessed a relief rally after the recent weakness, but undertone remained bearish as most of the sectors ended in red which pulled down benchmark indices from the day's high levels. Investors remain cautious due to growing global uncertainty and disappointing domestic economic indicators. However, optimism in banking, auto and realty aided sentiment even as worries over Trump's trade policies and fading chances of any rate cut in next month's credit policy weighed.

Vinod Nair, Head of Research, Geojit Financial Services

The national benchmark indices demonstrated optimism today, primarily driven by gains in the banking sector following the RBI's announcement of open market interventions to address liquidity concerns. Large-cap stocks outperformed, as their valuations have now reached fair levels and are further supported by expectations that the market correction is nearing its bottom. In contrast, mid- and small-cap stocks continued to decline, as they remain overvalued. However, volatility is expected to remain elevated in the near-term in anticipation of the upcoming Union Budget, the FOMC meeting, and the F&O expiry.

Jatin Gedia – Technical Research Analyst at Mirae Asset Sharekhan

Nifty witnessed a volatile day of trade today. It opened gap up and traded with a positive bias for most part of the day. Sharp selloff during the last hour wiped off some of the gains though managed to close with gains of ~128 points. It has formed a Doji candle on the daily charts which suggests indecision among the market participants regarding the direction of the trend.

Until, the Nifty manages to sustain above the 23000 – 23050 the downtrend is intact and minor degree pullbacks to resistance zone 23000 – 23050 should be used as a selling opportunity. Crucial support zone is placed at 22780 – 22670.

Ajit Mishra – SVP, Research, Religare Broking

Markets witnessed volatility but managed to close in positive territory, taking a breather after Monday’s decline. Despite weak global cues, the benchmark displayed resilience, inching higher for most of the session. However, a sharp dip in the final half-hour erased a significant portion of the gains. Ultimately, the Nifty index settled at 22,957.25, up 0.56%.

On the sectoral front, rate-sensitive sectors like realty, banking, and auto outperformed, driven by the RBI’s announcement of measures to enhance liquidity. Conversely, pharma and energy sectors faced selling pressure. Broader markets continued to underperform, with the midcap index losing nearly half a percent and the small-cap index declining by about two percent.

Markets have repeatedly struggled to sustain recovery attempts, and this session was no exception. Ongoing caution ahead of the Union Budget, a mixed earnings season, and weak global cues are further unsettling participants. We maintain our “sell on rise” stance for the index and emphasize the importance of robust risk management, particularly in broader market segments like midcaps and small caps, while awaiting clearer signals.

Aditya Gaggar Director of Progressive Shares

Selling continued in the broader markets, but the frontline index went up, led by the banking and auto sectors. Mid and Smallcap stocks recovered most of their losses during the day, however, couldn’t sustain at higher levels. After the big swings, Nifty50 closed at 22,957.25 with gains of 128.10 points. Realty was the best-performing sector, followed by PSU Banks, while Pharma and Energy lagged. The Broader markets extended their underperformance as Mid and Smallcaps corrected by 0.51% & 1.81% respectively.

The index shows a potential trend reversal with a long-legged DOJI candlestick pattern, and there could be a bullish divergence in the RSI. A close above 23,100 would confirm this. Immediate resistance is at 23,100 and support at 22,800.

Currency Check | Rupee closes 20 paise lower

Indian rupee ended 20 paise lower at 86.53 per dollar on Tuesday versus Monday's close of 86.33.

Market Close | Indian market bucks global trend, Sensex rises 535 pts, Nifty at 22,950

Indian equity indices broke 2-day losing streak and ended higher with Nifty at 22,950 on January 28.

At close, the Sensex was up 535.24 points or 0.71 percent at 75,901.41, and the Nifty was up 128.1 points or 0.56 percent at 22,957.25. About 1116 shares advanced, 2429 shares declined, and 84 shares unchanged.

BSE Midcap index shed 0.6 percent, while smallcap index fell 1.7 percent.

Axis Bank, HDFC Bank, Bajaj Finserv, Shriram Finance, Bajaj Finance were among major gainers on the Nifty, while losers included Sun Pharma, Britannia Industries, Eicher Motors, Grasim Industries, L&T.

Among sectors, auto, bank, realty indices rose 1-2 percent, while capital goods, power, metal, oil & gas, FMCG, healthcare and IT down 0.5-1 percent

Stock Market LIVE Updates | Bharat Electronics bags order worth Rs 531 crore

Bharat Electronics has secured additional orders worth Rs 531 crore since the last disclosure on 13th January, 2025.

Key aspects to monitor in the earnings report include the outlook for domestic demand and the trajectory of export growth, particularly in markets like Africa....Read More

Earnings Watch | JSW Infrastructure Q3 net profit up 31.7% at Rs 329.9 crore Vs Rs 250.7 crore, YoY

Global Markets | European Markets trade higher; FTSE, DAX up 0.4% each

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Indian Rupee declined as global risk sentiments were dampened amid tariff threats by the US President Donald Trump. This impacted the Chinese Yuan, which also led to strengthening of the US Dollar. A surge in US treasury yields and FII outflows also pressurised the Rupee. However, a decline in crude oil prices cushioned the downside.

We expect Rupee to trade with negative bias on a strong US Dollar and persistent FII outflows. Importer demand for Dollars and uncertainty over tariffs by the US administration may further weigh on the Rupee. However, overall weakness in crude oil prices and central bank intervention may support the Rupee. Investors may remain cautious ahead of FOMC meeting outcome this week.

RBI’s announcement of the OMO may also support the rupee at lower levels. USDINR spot price is expected to trade in a range of Rs 86.30 to Rs 86.80.

Stock Market LIVE Updates | FrieslandCampina selects Wipro to manage its core IT services

FrieslandCampina has selected Wipro to manage its core IT services for a period of five and a half years.

Earnings Watch | Nucleus Software Q3 net profit down 15.1% at Rs 35 crore Vs Rs 41.3 crore, YoY

Swiggy shares have tanked 15 percent over the past six sessions to briefly slip under the IPO price of Rs 390....Read More

Earnings Watch | Bajaj Housing Finance Q3 profit, NII jump 25%

#1 Profit grows 25% to Rs 548 crore Vs Rs 437 crore, YoY

#2 Net interest income increases 25% to Rs 806 crore Vs Rs 645 crore, YoY

Devarsh Vakil, Head - Prime Research, HDFC Securities

DeepSeek's breakthrough in AI model development, leveraging widely available resources, represents a paradigm shift in how artificial intelligence can be created and deployed. This approach directly challenges the narrative of U.S. technological exceptionalism, particularly the dominance of the 'Magnificent Seven' tech giants. Such disruption raises concerns for the NASDAQ index, where these companies' outsized market capitalizations, worth trillions of dollars, heavily influence market performance.

For AI users globally, particularly Indian software service companies, this democratization of AI development offers tremendous potential. The prospect of reduced costs in creating and deploying AI tools could enable organizations across sectors to harness this technology and expand their capabilities. This accessibility marks a significant step toward broader adoption and innovation in artificial intelligence.

Brokerage Call | KR Choksey Research maintains 'accumulate' rating on CreditAccess Grameen

Broking firm trim earnings by 11.3%/ 1.7%, for FY26E/ FY27E, respectively, to reflect a further slowdown in business growth and persistently high credit costs.

It has rolled over valuation to FY27E, adjusting P/ABV multiple to 1.5x (earlier 1.75x FY26E). Consequently, revised target price to Rs 988/share (previously Rs 1,011) on FY27E adj. book value of 658.4 and maintained "ACCUMULATE" rating on the shares.

Stock Market LIVE Updates | Greenlam Industries to consider bonus issue of shares on Jan 30

Earnings Watch| Great Eastern Shipping Q3 net profit Up 10.4% At Rs594 Cr Vs Rs538 Cr (YoY)

#1 Revenue Down 0.6% At Rs1,237 Cr Vs Rs1,245 Cr (YoY)

#2 EBITDA Down 6% At Rs611 Cr Vs Rs650 Cr (YoY)

#3 Margin At 49.4% Vs 52% (YoY)

Earnings Watch| Hyundai Motors Q3 net profit Rs1160 crore, down 19% YoY

#1 Revenue Rs16650 crore, down 1.3% YoY

#2 Total costs Rs 15330 crore, up 0.3% YoY

#3 Raw material costs Rs11540 crore, down 8.3% YoY

Earnings Watch| V-Guard Q3 net profit Rs60.22 crore vs Rs58.24 cr YoY

#1 Revenue Rs1268.65 crore vs Rs 1165.39 cr YoY

#2 Total costs Rs 1130 crore, up 11% YoY

#3 Other income Rs5.41 crore vs Rs2.24 crore YoY

#4 V-Guard chairman Emeritus Kochouseph Chittilappilly steps down

#5 Board approves proposal for capacity addition in fan making

#6 To invest Rs100 cr to add 2.6 mln fan manufacturing capacity

Earnings Watch| CG Power & Industrial Solutions Q3 net profit Rs241 cr, down 68% YoY

#1 Revenue Rs2520 crore, up 27% YoY

#2 Total cost Rs 2210 crore, up 27% YoY

#3 Board approves Rs712 crore investment for transformer plant

Earnings Watch| CSB Bank Q3 net profit up 1.3% YoY to Rs 152 crore

#1 Gross NPA 1.58% vs 1.68% QoQ

#2 Provisions Rs16.53 crore, up 19% YoY

#3 Operating Profit Rs 221 crore, up 13% YoY

Sensex Today| CG Power and Industrial Solutions aims QIP launch in Q1: Bloomberg

Earnings Watch| Hindustan Zinc Q3 net profit up 30% YoY to Rs 2650 crore

#1 Revenue up 17% YoY to Rs 8260 crore

#2 Total Cost at Rs 5290 crore, up 7.1% YoY

#3 Power & fuel expense Rs660 crore, down 8.7% YoY

Other income Rs 221 cr, down 28% YoY

Markets@2 | Sensex, Nifty trade higher

The Sensex was up 885.44 points or 1.17 percent at 76,251.61, and the Nifty was up 237.6 points or 1.04 percent at 23,066.75. About 1213 shares advanced, 2295 shares declined, and 90 shares unchanged.

Sensex Today | ITC Hotel to list on January 29

Stock Market LIVE Updates | Arvind SmartSpaces signs agreement for large industrial park in Ahmedabad

The real estate development company has signed an agreement for a large industrial park in Ahmedabad, with a total estimated area of 440 acres and a topline potential of Rs 1,350 crore.

Key aspects to monitor in the earnings report include the outlook for domestic demand and the trajectory of export growth, particularly in markets like Africa....Read More

Earnings Watch | Cipla Q3 net profit at Rs 1,570 crore and revenue at Rs 7,073 crore

DeepSeek Impact: Japan’s chipmaker stocks plunged into losses, while artificial intelligence and related stocks on Wall Street were hammered overnight amid concerns over the waning dominance of US tech giants in the AI space....Read More

Stock Market LIVE Updates | Bharat Aggarwal resigns as Business Head of Unsecured Lending of IIFL Finance

Bharat Aggarwal has resigned from the position of Business Head of Unsecured Lending at the company, effective January 27.

Sensex Today | Paytm Payments CEO Nakul Jain resigns amid awaited RBI nod for aggregator license

v

Analysts have noted that post-correction, the market is trading at valuations in line with long-term averages, presenting opportunities for investors. ...Read More

Earnings Watch | RITES Q3 net profit down 15.1% at Rs 109.4 crore Vs Rs 128.8 crore, YoY

Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services

Gold prices are likely to see some consolidation ahead of the key events and data releases lined up this week with major focus on the Fed and ECB policy meeting and later on the inflation numbers from major developed economies. However, the underlying bias remains positive amid uncertainty over the U.S. Presidents policies on tariffs/ immigration, etc. A corrective move in the U.S. dollar is likely to keep bullions supported.

Technically, the trend remains positive with support at 79250 and next at 78700, while on the upside prices may test 80850/ 81500 in the near-term.

Stock Market LIVE Updates | Azad Engineering secures purchase order from BHEL

The company has secured a purchase order from Bharat Heavy Electricals (BHEL) for the supply of advanced, high-complexity rotating airfoils for supercritical turbines.

Sensex Today | 1.52 million shares of Jio Financial traded in a block: Bloomberg

Earnings Watch | TTK Prestige Q3 net profit fall 6.4% at Rs 58.5 crore Vs Rs 62.5 crore, YoY

Stock Market LIVE Updates | Sammaan Capital raises Rs 1,300 crore

The company has raised Rs 1,300 crore by allotting 8.66 crore equity shares to qualified institutional buyers (including Smallcap World Fund, Societe Generale, Citigroup Global Markets Mauritius, Shine Star Build Cap, and Morgan Stanley Asia Singapore) at a price of Rs 150 per share.

Earnings Watch | Route Mobile Q3 net profit down 22% at Rs 82.5 crore Vs Rs 105.7 crore, YoY

Stock Market LIVE Updates | Transformers and Rectifiers (India) secures orders of Rs 362 crore

Earnings Watch | TVS Motor Q3 net profit up 4.2% at Rs 618 crore Vs Rs 593 crore, YoY

Global Markets | Asian Markets end mixed; Nikkei down 1.4%

Brokerage Call | Motilal Oswal reiterates 'buy' rating on Transport Corporation with target of Rs 1,370

Deepseek Impact on Big Tech: Investors should take advantage of any extreme volatility through strategies and buy the dip in quality stocks, said UBS. ...Read More

Stock Market LIVE Updates | TVS Motor Company share price gains 2% ahead of Q3 earnings

Sensex Today | 3.07 million shares of Samvardhana Motherson International traded in a block: Bloomberg

Stock Market LIVE Updates | Tata Power arm signs contract with Maharashtra State Power Generation Co

The company's subsidiary, TP Solar, has signed a contract worth Rs 455 crore with Maharashtra State Power Generation Company to supply 300 MWp ALMM modules for the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0 project.

Earnings Watch | Apar Industries Q3 net profit down 19.6% at Rs 175 crore Vs Rs 218 crore, YoY

Sensex Today | IOC, BHEL shares trade lower ahead of Q3 earnings

Earnings Watch | Aditya Birla Sun Life AMC Q3 consolidated profit rises 7%, revenie up 30%

#1 Profit grows 7.2 percent to Rs 224.5 crore Vs Rs 209.3 crore, YoY

#2 Revenue zooms 30.4 percent to Rs 445.1 crore Vs Rs 341.5 crore, YoY

Bajaj Finance Q3 Results Preview. The NBFC is likely to deliver robust earnings, driven by strong AUM growth and stabilising margins. However, rising credit costs and slight asset quality pressures are expected to draw attention....Read More

Earnings Watch | Maharashtra Seamless Q3 consolidated profit slips 32%, revenue falls

#1 Profit tanks 32.6 percent to Rs 186.1 crore Vs Rs 276.2 crore, YoY

#2 Revenue declines 1.6 percent to Rs 1,408.1 crore Vs Rs 1,431.1 crore, YoY

#3 Board appoints Arup Mandal as Chief Financial Officer of the company, effective January 27

#4 Board reappoints Saket Jindal as Managing Director of the company for five years, effective April 1, 2025

Earnings Watch | 360 ONE WAM Q3 consolidated profit jumps 44%

#1 Profit zooms 43.9 percent to Rs 276.5 crore Vs Rs 192.1 crore, YoY

#2 Revenue increases 20.7 percent to Rs 759.8 crore Vs Rs 629.8 crore, YoY

#3 Company enters into definitive agreement to acquire Batlivala & Karani (B&K) Securities, subject to regulatory approvals

Investors are likely to watch for commentary on JLR’s demand trends in the European and Chinese markets, along with the margin trajectory. ...Read More

Stock Market LIVE Updates | DEE Development Engineers acquires 70% equity shares of Molsieve Designs

DEE Development Engineers entered into a share purchase agreement with Molsieve Designs, whereby the company acquires 70% equity shares of Molsieve and Mr. Krishan Lalit Bansal (Promoter) acquires 15% equity shares of Molsieve.

Stock Market LIVE Updates | Cipla shares trade lower ahead of Q3 results

China is not a structural story for us, rather it is more to do with the stimulus from government - Vivek Paul, BlackRock

Electronics manufacturing services stocks are feeling the impact of a selloff in Nvidia shares, sparked by the rise of Chinese AI start-up DeepSeek....Read More

Stock Market LIVE Updates | Hyundai Motor shares gain ahead of Q3 earnings

Key aspects to monitor in the earnings report include the outlook for domestic demand and the trajectory of export growth, particularly in markets like Africa....Read More

Results Today | Bajaj Auto, Cipla, Hyundai Motor India, IOC, BHEL among others to announce earnings today

Bajaj Auto, Cipla, Hyundai Motor India, Indian Oil Corporation, BHEL, Bosch, JSW Energy, JSW Infrastructure, CG Power and Industrial Solutions, Colgate Palmolive, CSB Bank, Exide Industries, GMR Airports, Hindustan Zinc, Home First Finance Company, Le Travenues Technology, Mahindra & Mahindra Financial Services, Mahanagar Gas, Motilal Oswal Financial Services, Novartis India, Piramal Pharma, RITES, Route Mobile, R R Kabel, SBI Cards and Payment Services, SIS, Star Health and Allied Insurance Company, Baazar Style Retail, Suzlon Energy, TTK Prestige, TVS Motor Company, and UTI AMC will announce their quarterly earnings on January 28.

Earnings Watch | Petronet LNG Q3 standalone profit jumps, revenue falls

#1 Profit rises 2.3 percent to Rs 867 crore Vs Rs 847.6 crore, QoQ

#2 Revenue declines 6.1 percent to Rs 12,227 crore Vs Rs 13,021.8 crore. QoQ

#3 Company to sign definitive agreement with Deepak Phenolics for sale & purchase of propylene & hydrogen

Bajaj Finance Q3 Results Preview. The NBFC is likely to deliver robust earnings, driven by strong AUM growth and stabilising margins. However, rising credit costs and slight asset quality pressures are expected to draw attention....Read More

Stock Market LIVE Updates | HDFC Bank shares gain most in eight months

Stock Market LIVE Updates | Swiggy shares trade near IPO price

Earnings Watch | Mahindra Logistics Q3 consolidated loss narrows to Rs 9.03 crore

#1 Loss narrows to Rs 9.03 crore Vs loss of Rs 17.4 crore, YoY

#2 Revenue grows 14.1 percent to Rs 1,594.2 crore Vs Rs 1,397.2 crore, YoY

Stock Market LIVE Updates | Bajel Projects gets contract from Power Grid

The company has been awarded a supply of Goods and Services contract by PowerGrid Corporation of India for and on behalf of their project specific SPV i.e. Rajasthan IV 4A Power Transmission.

Financial stocks drove the Nifty 50 higher, supported by the Reserve Bank of India's liquidity-enhancing measures, which sparked anticipation of a possible rate cut in February....Read More

Stock Market LIVE Updates | Intellect Design inks pact with Coforge to modernise financial institutions systems

L&T will deliver the data centre through the engineering, procurement and construction route, adding the facility will be equipped with advanced AI capabilities, with minimal environmental impact and maximum energy efficiency....Read More

RailTel Corp's weak operational performance in Q3 was on account of a surge in expenses due to higher license fees towards the Department of Telecommunications and elevated project costs....Read More

Stock Market LIVE Updates | Amber Enterprises shares extend fall on second day