Closing Bell: Nifty near 25,200, Sensex up 320 pts; metal, financials shine

Indian equity indices ended on a positive note with Nifty above 25,150 on January 27. At close, the Sensex was up 319.78 points or 0.39 percent at 81,857.48, and the Nifty was up 126.75 points or 0.51 percent at 25,175.40.

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.

Today, the benchmark indices witnessed a volatile trading session. After a roller-coaster activity, the Nifty ended 127 points higher, while the Sensex was up by 320 points. Among sectors, the Metal Index was the top gainer, rallying 3.35 percent, whereas the Media Index lost the most, shedding over 1 percent. Technically, after an early morning intraday dip, the market took support near 24,900/81000 and bounced back sharply. From the day's lowest level, the market rallied over 300/950 points. On daily charts, the index has formed a long bullish candle, and on intraday charts, it formed a promising reversal pattern, which is largely positive.

We are of the view that 25,000/81,400 and 24,900/81,000 would act as key support zones. As long as the market trades above these levels, a pullback formation is likely to continue. On the higher side, 25,200/81,800 would be the immediate resistance zone for the bulls. A successful breakout of 25,200/81,800 could push the market up to 25,300-25,350/82,200-82,400.

On the flip side, below 24,900/81,000, sentiment could change. If the market falls below this level, traders may prefer to exit their long positions.

The NSE monthly expiry day proved to be a roller-coaster session for the market, as the Nifty witnessed a 300-point swing during the day. On closing, the index ended above the 200-DMA; however, a follow-up move is required before changing the bearish view on the Nifty.

Support remains at 24,900, and a slip below this level could unlock fresh selling pressure from the bears. On the higher end, 25,500 continues to be a crucial resistance zone. Until the Nifty decisively breaks above 25,500, a sell-on-rise strategy may continue to work in the market.

On monthly expiry, Nifty experienced a choppy session for the major part of the day before last hour short covering surge. The 25,190–25,200 zone, which acted as a support in the previous session, acted as a strong resistance for the major part of the session before Index managed to close higher. On the daily chart, Nifty formed a sizeable bullish candle with long lower wicks, indicating buying interest at lower levels. Notably, the index has managed to close above the 200-day EMA zone.

On the sectoral front, Nifty Metal continued its strong outperformance and ended the day as the top gainer with gains of 3.07%. Nifty PSU Banks also saw strong gains of over 1.76%. On the other hand, Nifty Media and Auto emerged as the top two sectoral losers. With regards to stocks, Adani Enterprise & Axis Bank emerged as the top stock gainers amongst the Nifty pack while M&M and Asian Paint emerged as the top two losers.

The Midcap Index formed a dragonfly doji like candle suggesting strong buying interest at lower levels. The Index still trades below key short- and long-term moving averages. Attempts to reclaim the 200-day EMA failed, followed by a decline. Rising ADX suggests strengthening bearish trend. Despite the pullback witnessed in the smallcap space, weakness is evident in this space. The 16,780–16,800 zone, which earlier was a strong support, now acts as strong resistance. RSI slipping below 30 indicates sustained bearish momentum.

The market breadth improved as the advance-decline ratio was skewed in the favour of bulls at day’s close. A total of 303 stocks out of the Nifty 500 universe ended in the green.

Nifty View

Going ahead, the key support for Nifty is placed in the 24,950–24,900 zone, which coincides with the upward-sloping trendline, drawn by connecting the swing lows of 24,338 (8th August) and 24,405 (29th August). A decisive breakdown below this zone could result in Nifty extending its weakness towards 24,700, followed by 24,500 in the near term. On the upside, the 25,250–25,300 zone is expected to act as a strong resistance area, limiting any pullback attempts.

Bank Nifty View

Bank Nifty shrugged off early weakness and staged a quick rebound, moving higher steadily as the day progressed. The index closed 1.25% higher at 59,205. Importantly, it found support near its 100-day EMA, making this level critical for any potential pullback in the coming sessions.

For Bank Nifty, the immediate resistance is seen in the 59,350–59,400 zone, which coincides with the 20-day EMA zone, making it a crucial supply area to watch. A sustained move above this zone could open the door for a pullback rally on the upside towards 59,700, followed by 60,000 in the near term. On the downside, the 58,700–58,600 zone is likely to act as a strong support.

Today, the Indian equity markets recovered, supported by positive sentiment around the finalization of the India-Eu FTA. During the session, the Sensex closed at 81,857, while the Nifty 50 closed at 25,175.

Investors remained cautious but optimistic as they assessed the long term impact of this major economic development along with global factors.

The India–EU FTA is being seen as a historic step after nearly 20 years of negotiations. The agreement creates a large free trade zone covering about two billion people and nearly 25% of global GDP. Under the deal, most tariffs on EU goods entering India will be reduced or removed, while India will gain better access to the EU market for sectors such as textiles, pharmaceuticals, chemicals, engineering goods, and gems and jewellery.

Import duties on automobiles and wine will also be sharply reduced over time. This is expected to improve India’s export competitiveness over the medium to long term.

In the market, metal stocks led the gains, with the Nifty Metal index rising around 3%. PSU banks also moved higher, reflecting confidence in stable credit growth. Stocks like Axis Bank, UltraTech Cement, JSW Steel, Adani Enterprises, and Adani Ports supported the indices.

Overall, the India–EU trade deal is a strong long-term positive for India. However, in the near term, markets are likely to remain volatile, driven more by earnings, global cues, currency movement, and fund flows than by the trade deal itself.

The domestic market exhibited a volatile trading day and ended the session positively on the monthly expiry day, influenced by mixed cues and renewed tariff concerns offset by optimism surrounding the conclusion of the India–EU trade agreement.

Auto and beverage stocks declined amid worries about increasing competitive pressures. Investors continued to assess ongoing corporate earnings, which have been mixed so far and offered limited scope for near-term upgrades. In the near term, investors are awaiting the US FED’s upcoming interest rate decision and the Union Budget for future direction.

Rupee traded stronger at 91.70, gaining around 0.16 paise, as optimism around a potential trade understanding with Europe supported sentiment. Short covering in the second half of the capital market session further lifted expectations of steadier capital flows.

With the Fed’s policy decision due late Wednesday, the rupee is likely to track global cues closely. Near-term range is seen between 91.35 and 92.15.

Bank Nifty closed with a long bullish candlestick on the daily chart, indicating strong buying interest. The index found support near the 58100 zone and witnessed a sharp follow-up rebound after the previous selling session, highlighting demand at lower levels. Volatility is expected to remain elevated in the coming sessions due to the Union Budget event. The 20-day moving average and the 59500 zone will be crucial; a sustained close above these levels could decide the next directional move. Support is placed at 58800, while resistance stands at 59500.

Indian rupee ended 24 paise higher at 91.72 per dollar on Tuesday versus Friday's close of 91.96.

Indian equity indices ended on a positive note with Nifty above 25,150 on January 27.

At close, the Sensex was up 319.78 points or 0.39 percent at 81,857.48, and the Nifty was up 126.75 points or 0.51 percent at 25,175.40. About 1901 shares advanced, 2209 shares declined, and 163 shares unchanged.

Biggest Nifty gainers were Adani Enterprises, Axis Bank, JSW Steel, Adani Ports, Grasim Industries, while losers included M&M, Kotak Mahindra Bank, Asian Paints, Bajaj Finserv and Eternal.

Except auto, FMCG, media and consumer durables, all other sectoral indices ended in the green with metal up 3%.

The Nifty midcap and smallcap indices rose 0.5 percent each.

NBCC (India) was quoting at Rs 97.45, up Rs 2.30, or 2.42 percent.

It has touched an intraday high of Rs 97.50 and an intraday low of Rs 93.75.

It was trading with volumes of 952,847 shares, compared to its five day average of 868,451 shares, an increase of 9.72 percent.

In the previous trading session, the share closed down 3.55 percent or Rs 3.50 at Rs 95.15.

The share touched a 52-week high of Rs 130.60 and a 52-week low of Rs 70.82 on 09 June, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 25.38 percent below its 52-week high and 37.6 percent above its 52-week low.

Market capitalisation stands at Rs 26,311.50 crore.

The India-EU Free Trade Agreement has the potential to significantly bolster India’s export and import competitiveness and enhance investor confidence over the medium term. By reducing tariffs and streamlining regulatory barriers, Indian exporters in sectors such as pharmaceuticals, textiles, automotive components, and information technology services stand to gain improved access to one of the world’s largest consumer markets.

This will produce higher export volumes and create better integration into European value chains. On imports, Indian manufacturers may benefit from more competition, particularly in capital goods and advanced intermediate products, boosting domestic productivity. Greater competition from EU imports could also prompt Indian industries to adopt higher quality standards and technological improvements, enhancing overall competitiveness.

Capital-intensive and high-value-added sectors should see modernisation, however, labour-intensive sectors may need additional support in order to adjust to increased competition.

The agreement signals India’s strengthening with global standards, which can strengthen investor confidence. This greater credibility, along with better market access, should attract foreign direct investment, and reinforce India’s role in global supply chains.

Hindalco Industries announced a major expansion of its aluminium operations in Odisha. The company flagged a Rs 21,000-crore, 3.6 lakh-tonne-per-annum smelter expansion at its Aditya Aluminium complex in Sambalpur and commissioned a 1.7 lakh-tonne-per-annum Flat Rolled Products (FRP) and battery-grade aluminium foil manufacturing facility with an investment of Rs 4,500 crore.

Hindalco Industries was quoting at Rs 962.85, up Rs 12.55, or 1.32 percent.

It has touched a 52-week high of Rs 984.20.

It has touched an intraday high of Rs 984.20 and an intraday low of Rs 950.55.

It was trading with volumes of 206,913 shares, compared to its five day average of 119,362 shares, an increase of 73.35 percent.

India’s rapid adoption of digital payments marks a fundamental shift in how the economy transacts. What began as a matter of convenience has now become an expectation across everyday use cases—from neighbourhood retail and transport to healthcare and education. This momentum has been driven by UPI’s interoperable and low-cost architecture, growing smartphone penetration, affordable data access, and a policy framework that has evolved alongside innovation. Together, these elements have strengthened trust, encouraged formalisation, and enabled scale across the digital payments ecosystem.

Looking ahead to Budget 2026, the fintech industry is seeking policy continuity with a sharper focus on long-term sustainability. While zero MDR has played a vital role in accelerating adoption and inclusion, differentiated economics for high-volume use cases can help support continued investment in infrastructure, security, and reliability without affecting smaller merchants. As transaction volumes rise, reinforcing payment resilience, cybersecurity, and fraud prevention will be increasingly important.

Technology—especially AI—is quietly transforming fintech operations, enabling real-time fraud detection, system monitoring, and efficiency at scale. Ultimately, trust in financial services is built on dependable systems backed by human accountability. The next phase of fintech growth will be defined not just by reach or speed, but by reliability on the ground and confidence in user support when it matters most.

The India–EU Free Trade Agreement is expected to positively influence India’s export and import competitiveness over the medium term. With both sides opening their markets, Indian industries will gain access to a much larger European market, helping to boost exports in sectors such as automobiles, textiles, and chemicals. Reduced trade barriers will make Indian products more competitive and enable smoother trade flows between the two regions.

The agreement also aligns with India’s focus on strengthening domestic manufacturing and increasing exports rather than relying heavily on imports. Improved trade terms with European countries can help industries scale up operations and enhance their global presence.

Sectoral growth is likely as multiple industries benefit from better market access and stronger trade relations. The deal highlights India’s continued efforts to build trade partnerships with major economies, reinforcing its global standing.

Overall, this agreement is expected to strengthen global investor confidence in India by signalling stable international trade relations and long-term economic growth potential.

The company has been declared the preferred bidder against a tender for the grant of a Mining Lease and Composite Licence by the Government of Madhya Pradesh.

The forward e-auction for the grant of the Composite Licence for the Baghwari–Khirkhori Copper and Associated Mineral Block was successfully concluded on January 22.

Hindustan Copper was quoting at Rs 560.85, up Rs 25.30, or 4.72 percent.

It has touched an intraday high of Rs 561.85 and an intraday low of Rs 544.30.

It was trading with volumes of 2,020,248 shares, compared to its five day average of 3,096,870 shares, a decrease of -34.76 percent.

The Sensex was up 88.04 points or 0.11 percent at 81,625.74, and the Nifty was up 69.50 points or 0.28 percent at 25,118.15. About 1530 shares advanced, 2407 shares declined, and 135 shares unchanged.

CG Power and Industrial Solutions was quoting at Rs 537.40, down Rs 12.05, or 2.19 percent.

It has touched an intraday high of Rs 555.10 and an intraday low of Rs 534.80.

It was trading with volumes of 215,893 shares, compared to its five day average of 362,451 shares, a decrease of -40.44 percent.

In the previous trading session, the share closed down 4.31 percent or Rs 24.75 at Rs 549.45.

The share touched a 52-week high of Rs 797.75 and a 52-week low of Rs 518.35 on 17 September, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 32.64 percent below its 52-week high and 3.68 percent above its 52-week low.

Market capitalisation stands at Rs 84,634.73 crore.

Precious metals are firmly back in the spotlight. Comex Gold has surged to a staggering record high of $5100/oz, fueled by aggressive accumulation from the central banks of China and Poland. Meanwhile, Comex Silver hit $117, catalyzed by safe-haven demand as US-South Korea tariff threats jumped from 15% to 25%.

On MCX, both metals trading over its key moving averages i.e. 20, 50 and 100-DEMA levels, which are at 145,550 – 137,300 and 128,300 for Gold and 286250 – 238700 – 199600 for Silver respectively. While the momentum is undeniably strong, there is a technical warning sign.

The RSI (Relative Strength Index) is currently in overbought territory across all timeframes. More importantly, a Daily RSI divergence has appeared—a classic "red flag" suggesting that long positions should proceed with caution despite the bullishness.

We are expecting moderately bullish trend in upcoming session in Gold and Silver. Crucial resistance would be at 168,790 for Gold which is a 78% of Trend based Fib. Extension level and for Silver 375,000 – 400,000 would be crucial resistance.

#1 Loss stands at Rs 21.3 crore Vs profit of Rs 231.8 crore, YoY

#2 Revenue spikes 32.9% to Rs 382.7 crore Vs Rs 287.9 crore, YoY

#3 Board approves entering into an agreement with Amber Enterprises India for manufacture and supply of the products under ‘Native’ brand of the company

Sumitomo Chemical India was quoting at Rs 412.50, down Rs 5.75, or 1.37 percent.

It has touched a 52-week low of Rs 407.65.

It has touched an intraday high of Rs 425.00 and an intraday low of Rs 407.65.

It was trading with volumes of 49,027 shares, compared to its five day average of 58,616 shares, a decrease of -16.36 percent.

Asian Paints was quoting at Rs 2,597.40, down Rs 104.85, or 3.88 percent.

It has touched an intraday high of Rs 2,732.10 and an intraday low of Rs 2,584.40.

It was trading with volumes of 30,504 shares, compared to its five day average of 45,262 shares, a decrease of -32.61 percent.

In the previous trading session, the share closed down 0.03 percent or Rs 0.85 at Rs 2,702.25.

The share touched a 52-week high of Rs 2,985.50 and a 52-week low of Rs 2,125.00 on 04 December, 2025 and 05 March, 2025, respectively.

Currently, the stock is trading 13 percent below its 52-week high and 22.23 percent above its 52-week low.

Market capitalisation stands at Rs 249,142.03 crore.

Raymond Realty was quoting at Rs 419.30, up Rs 7.35, or 1.78 percent.

It has touched a 52-week low of Rs 407.50.

It has touched an intraday high of Rs 438.70 and an intraday low of Rs 407.50.

It was trading with volumes of 22,547 shares, compared to its five day average of 11,542 shares, an increase of 95.35 percent.

The Sensex was down 74.36 points or 0.09 percent at 81,463.34, and the Nifty was down 2.40 points or 0.01 percent at 25,046.25. About 1478 shares advanced, 2417 shares declined, and 135 shares unchanged.

Mr. Abhinav Gupta, Chief Financial Officer, has relinquished his position as Chief Financial Officer with immediate effect, consequent upon his transition to a new role within the Company as Chief of Internal Audit. Accordingly, he shall cease to be a Key Managerial Personnel (KMP) but shall remain as Senior Management Personnel (SMP) of the Company with immediate effect. The letter received from Mr. Abhinav Gupta is attached.

Mr. Rajesh Choudhary, presently serving as Senior Vice President - Finance & Accounts is appointed as Chief Financial Officer of the Company, a Key Managerial Personnel (KMP) and a Senior Management Personnel (SMP), with immediate effect.

Tilaknagar Industries was quoting at Rs 394.75, up Rs 6.05, or 1.56 percent.

It has touched an intraday high of Rs 396.50 and an intraday low of Rs 386.00.

It was trading with volumes of 26,806 shares, compared to its five day average of 69,526 shares, a decrease of -61.44 percent.

Suratwwala Business Group has executed (i) Sale Deed and (ii) Development Agreement–Power of Attorney (DAPA) for redevelopment of housing project at Prabhat road Pune.

Suratwwala Business Group was quoting at Rs 34.08, down Rs 0.16, or 0.47 percent.

It has touched an intraday high of Rs 34.95 and an intraday low of Rs 33.36.

#1 Profit soars 22% to Rs 184.7 crore Vs Rs 151.4 crore

#2 Net interest income jumps 15% to Rs 624.7 crore Vs Rs 542.9 crore

#4 Gross NPA drops to 2.72% Vs 2.91%, QoQ

#5 Net NPA declines to 1.10% Vs 1.21%, QoQ

DCB Bank was quoting at Rs 195.40, up Rs 12.80, or 7.01 percent.

It has touched a 52-week high of Rs 199.00.

It has touched an intraday high of Rs 199.00 and an intraday low of Rs 187.20.

The Western Union Company (NYSE: WU) today announced the launch of its Global Capability Center (GCC) in Hyderabad, India, in collaboration with HCLTech.

HCL Technologies was quoting at Rs 1,716.00, up Rs 9.40, or 0.55 percent.

It has touched an intraday high of Rs 1,722.00 and an intraday low of Rs 1,701.20.

It was trading with volumes of 20,744 shares, compared to its five day average of 92,436 shares, a decrease of -77.56 percent.

In the previous trading session, the share closed up 0.23 percent or Rs 3.95 at Rs 1,706.60.

The share touched a 52-week high of Rs 1,752.00 and a 52-week low of Rs 1,304.00 on 27 June, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 2.05 percent below its 52-week high and 31.6 percent above its 52-week low.

Market capitalisation stands at Rs 465,664.93 crore.

Asian Paints, Aditya Vision, Bikaji Foods International, CG Power and Industrial Solutions, Vodafone Idea, International Gemmological Institute India, Mahindra Logistics, Marico, Motilal Oswal Financial Services, NESCO, Spandana Sphoorty Financial, Vishal Mega Mart, will announce their quarterly earnings on January 27.

#1 PIDF scheme not rolled over by RBI

#2 Incentive income was a key contributor to EBITDA

#3 EBITDA estimates cut by 8-14 percent

#4 Core business traction remains strong

The global currency landscape is clearly transitioning into a phase where monetary policy divergence and geopolitical risks will play a defining role. A softer US Dollar, coupled with potential capital reallocation towards emerging markets, creates both opportunities and risks for investors. For India, sustained foreign inflows, supported by stable macro fundamentals, could help the Rupee maintain its current range despite global volatility.

#1 Q3 EBITDA missed estimates due to curtailment & lower wind utilisation

#2 FY26 EBITDA cut by 7 percent, still grew 19 percent YoY on higher generation

#3 Capacity additions remain strong with upside risk to estimates

Adani Green Energy Limited was quoting at Rs 790.85, up Rs 18.75, or 2.43 percent.

It has touched an intraday high of Rs 818.45 and an intraday low of Rs 767.40.

It was trading with volumes of 1,190,693 shares, compared to its five day average of 85,550 shares, an increase of 1,291.81 percent.

In the previous trading session, the share closed down 14.63 percent or Rs 132.30 at Rs 772.10.

The share touched a 52-week high of Rs 1,179.20 and a 52-week low of Rs 758.00 on 23 September, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 32.93 percent below its 52-week high and 4.33 percent above its 52-week low.

Market capitalisation stands at Rs 130,266.93 crore.

Tata Consumer Products was quoting at Rs 1,162.75, up Rs 9.50, or 0.82 percent.

It has touched an intraday high of Rs 1,172.25 and an intraday low of Rs 1,150.20.

It was trading with volumes of 29,404 shares, compared to its five day average of 22,045 shares, an increase of 33.38 percent.

Indian rupee is trading higher at 91.73 per dollar versus Friday's close of 91.96.

The board has appointed Jagadip Narayan Singh as an Additional Director (Non-Executive Independent) and Chairman of the company for a period of five consecutive years, effective January 23, 2026.

Ramasamy Jeevanandam has resigned as the Managing Director of the company.

Hindustan Oil Exploration Company was quoting at Rs 145.50, down Rs 1.25, or 0.85 percent.

It has touched an intraday high of Rs 148.60 and an intraday low of Rs 144.00.

It was trading with volumes of 6,935 shares, compared to its five day average of 13,358 shares, a decrease of -48.09 percent.

The company has acquired 37.82 lakh equity shares of JB Chemicals (representing a 2.36 percent stake) from certain employees of JB Chemicals. With this acquisition, the company now holds a total of 7.82 crore equity shares of JB Chemicals, equivalent to a 48.75 percent stake.

Meanwhile, the US Food and Drug Administration (US FDA) has concluded its inspection of the company’s Dahej facility with zero observations. The inspection was conducted from January 19 to 23.

Torrent Pharmaceuticals was quoting at Rs 3,969.70, up Rs 42.75, or 1.09 percent.

It has touched an intraday high of Rs 3,977 and an intraday low of Rs 3,913.30.

It was trading with volumes of 1,230 shares, compared to its five day average of 5,659 shares, a decrease of -78.26 percent.

In the previous trading session, the share closed down 2.41 percent or Rs 97.05 at Rs 3,926.95.

The share touched a 52-week high of Rs 4,124.95 and a 52-week low of Rs 2,891.45 on 20 January, 2026 and 03 March, 2025, respectively.

Currently, the stock is trading 3.76 percent below its 52-week high and 37.29 percent above its 52-week low.

Market capitalisation stands at Rs 134,352.69 crore.

#1 Q3 reinforced leadership in growth & profitability

#2 Strong volume growth & margin expansion

#3 Management expects strong demand & better profitability in Q4

UltraTech Cement was quoting at Rs 12,697.15, up Rs 328.85, or 2.66 percent.

It has touched an intraday high of Rs 12,829.40 and an intraday low of Rs 12,483.70.

It was trading with volumes of 27,232 shares, compared to its five day average of 25,580 shares, an increase of 6.46 percent.

In the previous trading session, the share closed up 0.03 percent or Rs 3.80 at Rs 12,368.30.

The share touched a 52-week high of Rs 13,101.80 and a 52-week low of Rs 10,053 on 04 September, 2025 and 28 February, 2025, respectively.

Currently, the stock is trading 3.09 percent below its 52-week high and 26.3 percent above its 52-week low.

Market capitalisation stands at Rs 374,158.56 crore.

Axis Bank was quoting at Rs 1,315.60, up Rs 55.50, or 4.40 percent.

It has touched a 52-week high of Rs 1,333.50.

It has touched an intraday high of Rs 1,333.50 and an intraday low of Rs 1,279.95.

It was trading with volumes of 646,753 shares, compared to its five day average of 272,679 shares, an increase of 137.18 percent.

The European Union and India have concluded negotiations on a historic, ambitious and commercially significant free trade agreement, the largest such deal ever finalised by either side.

The pact is expected to strengthen economic and political ties between the world's second- and fourth-largest economies at a time of heightened geopolitical tensions and global economic uncertainty, underlining a shared commitment to economic openness and rules-based trade.

Marine Electricals (India) has received an order amounting to Rs 284.39 crore

1. Order from Digital Edge Dc (India) Private Limited for Supply of power distribution system for BOM-2 Data Center Project. The delivery of the said goods/services shall be made over a period of 6-8 months.

2. Order from Crescon Projects & Services Private Limited for supply of power distribution system for LBOM-12 Data Center Project.

The delivery of the said goods/services shall be made over a period of 1-2 months.

3. Order from SHM Shipcare Private Limited for Supply of power distribution system. The delivery of the said goods/services shall be made over a period of 4-5 months.

Marine Electricals India was quoting at Rs 181.20, up Rs 10.71, or 6.28 percent.

It has touched an intraday high of Rs 184.62 and an intraday low of Rs 170.34.

It was trading with volumes of 479,779 shares, compared to its five day average of 350,982 shares, an increase of 36.70 percent.

This year’s Budget is being presented against the backdrop of significant fiscal constraints. Tax collections in the current fiscal year have been relatively subdued, and with GST rate cuts, there is limited scope for any meaningful upside on the revenue front. At the same time, expenditure pressures remain elevated, particularly with higher outlays planned for Fertilizers subsidy compared to last year, requiring the government to navigate a very tight fiscal framework.

Compounding this is the constraint of lower nominal GDP growth, which further limits fiscal flexibility. Given the government’s stated commitment to fiscal consolidation, it would be unrealistic to expect any major sops, especially in the form of tax cuts. This is particularly true when the government is also contemplating customs duty rationalisation as part of ongoing and proposed FTAs. Accordingly, expectations of capital gains tax relief or other capital-market friendly tax measures are unlikely.

The government is likely to maintain capital expenditure broadly at current levels as a percentage of GDP, but without dramatic shifts in allocation.

That said, this Budget is unlikely to be a dull one. While large giveaways may be off the table, we expect the reform momentum to continue and possibly accelerate, which we believe will be the defining feature of this Budget. Deregulation will be given a bigger push and will be the central theme of this budget.On the reform f

ont, one of the most critical developments to watch will be progress on the Electricity (Amendment) Act. Any meaningful push in this direction would mark a major milestone in power distribution and broader power sector reforms. This would build on the reform trajectory already underway, spanning GST, insurance sector liberalisation, private participation in the nuclear sector, and ongoing IBC revamp.

Overall, our expectation from this Budget is reform-driven rather than populist, with structural changes taking precedence over short-term fiscal concessions. This, in our view, will be structurally very positive for Indian equities, though it can't stem the short-term sluggish market movements. Expect a bold budget this time given the Govt's willingness to bite the bullet in the face tariff and geopolitical challenges. The ongoing tariff challenges have given the Govt the required political space for bold reforms, which the Govt is wise enough not to miss.

Raymond was quoting at Rs 404.35, up Rs 34.75, or 9.40 percent.

It has touched a 52-week low of Rs 361.60.

It has touched an intraday high of Rs 419.15 and an intraday low of Rs 361.60.

It was trading with volumes of 94,392 shares, compared to its five day average of 16,870 shares, an increase of 459.51 percent.

GMR Airports was quoting at Rs 89.45, down Rs 1.65, or 1.81 percent.

It has touched an intraday high of Rs 91.80 and an intraday low of Rs 89.35.

It was trading with volumes of 799,108 shares, compared to its five day average of 378,591 shares, an increase of 111.07 percent.

In the previous trading session, the share closed down 4.21 percent or Rs 4.00 at Rs 91.10.

The share touched a 52-week high of Rs 110.30 and a 52-week low of Rs 67.75 on 02 December, 2025 and 28 February, 2025, respectively.

Currently, the stock is trading 18.9 percent below its 52-week high and 32.03 percent above its 52-week low.

Market capitalisation stands at Rs 94,450.04 crore.

Aurionpro Solutions announced a significant order win from Titagarh Rail Systems Limited (TRSL) for the design, supply, commissioning, and long-term maintenance of Platform Screen Door (PSD) systems for Line 5 of the Mumbai Metro Rail Project

Aurionpro Solutions was quoting at Rs 951.70, up Rs 36.50, or 3.99 percent.

It has touched a 52-week low of Rs 894.

It has touched an intraday high of Rs 951.70 and an intraday low of Rs 894.

It was trading with volumes of 4,739 shares, compared to its five day average of 66,067 shares, a decrease of -92.83 percent.

Medico Remedies has secured government supply order for Rs 37,17,62,439 to supply drugs to Uttar Pradesh Medical Supplies Corporation.

Medico Remedies was quoting at Rs 51.38, down Rs 2.15, or 4.02 percent.

It has touched an intraday high of Rs 53.55 and an intraday low of Rs 50.66.

It was trading with volumes of 12,787 shares, compared to its five day average of 24,186 shares, a decrease of -47.13 percent.

Asian Paints, Tata Consumer Products, Aditya Vision, Bikaji Foods International, CG Power and Industrial Solutions, Vodafone Idea, International Gemmological Institute India, Mahindra Logistics, Marico, Motilal Oswal Financial Services, NESCO, Raymond, Spandana Sphoorty Financial, Vishal Mega Mart, will announce their quarterly earnings on January 27.

Hindustan Petroleum Corporation Limited (HPCL) and Castrol India have signed a Memorandum of Understanding to explore the development of Re-Refined Base Oil (RRBO) ecosystem in India.

Under this MoU, the two companies will work together to evaluate a model for collecting used lubricating oil, have it re-refined for its use in lubricant production. The collaboration aims to assess the commercial, operational and technical feasibility of such a circular model at scale.

Castrol India was quoting at Rs 183.60, down Rs 0.15, or 0.08 percent.

It has touched an intraday high of Rs 184.60 and an intraday low of Rs 181.80.

It was trading with volumes of 72,899 shares, compared to its five day average of 150,897 shares, a decrease of -51.69 percent.

Hindustan Petroleum Corporation was quoting at Rs 419.40, up Rs 4.10, or 0.99 percent.

It has touched an intraday high of Rs 419.90 and an intraday low of Rs 412.50.

It was trading with volumes of 69,378 shares, compared to its five day average of 483,447 shares, a decrease of -85.65 percent.

The Sensex was up 93.95 points or 0.12 percent at 81,631.65, and the Nifty was up 62.60 points or 0.25 percent at 25,111.25. About 1636 shares advanced, 2133 shares declined, and 150 shares unchanged.

Highway Infrastructure announced the commencement of toll operations at Kaza Fee Plaza on the Chilakaluripet–Vijayawada section of NH-16 in Andhra Pradesh, effective January 23, 2026.

The project covers 355.0 Km to 437.5 Km (aggregate length of 82.5 km) on NH‑16 a key north–south national highway corridor connecting major economic hubs across southern and eastern India.

RateGain Travel Technologies announced the deployment of Sojern’s AI Concierge solution across Red Roof, a leading economy lodging brand in U.S.A.

Sojern, RateGain’s recently acquired AIpowered marketing platform built for hospitality, will help Red Roof enhance guest engagement, streamline operations, and strengthen commercial performance across the portfolio.

Rategain Travel Technologies was quoting at Rs 612.20, down Rs 4.80, or 0.78 percent.

It has touched an intraday high of Rs 624.70 and an intraday low of Rs 596.00.

It was trading with volumes of 9,311 shares, compared to its five day average of 18,551 shares, a decrease of -49.81 percent.

WeWork India Management was quoting at Rs 575.40, down Rs 4.50, or 0.78 percent.

It has touched a 52-week low of Rs 554.60.

It has touched an intraday high of Rs 590.45 and an intraday low of Rs 554.60.

It was trading with volumes of 15,608 shares, compared to its five day average of 2,339 shares, an increase of 567.35 percent.

Raymond Lifestyle was quoting at Rs 909.75, down Rs 2.20, or 0.24 percent. It has touched an intraday high of Rs 945.00 and an intraday low of Rs 888.30.

In the previous trading session, the share closed down 1.31 percent or Rs 12.15 at Rs 911.95. The share touched a 52-week high of Rs 1,819.95 and a 52-week low of Rs 860.05 on 30 January, 2025 and 07 April, 2025, respectively. Currently, the stock is trading 50.01 percent below its 52-week high and 5.78 percent above its 52-week low. Market capitalisation stands at Rs 5,542.53 crore.

#1 Profit zooms 67.6% to Rs 32.4 crore Vs Rs 19.33 crore, YoY

#2 Revenue jumps 16.1% to Rs 1,167.1 crore Vs Rs 1,005.3 crore, YoY

Gandhar Oil Refinery India was quoting at Rs 157.15, down Rs 6.75, or 4.12 percent.

It has touched an intraday high of Rs 163.10 and an intraday low of Rs 149.15.

It was trading with volumes of 62,417 shares, compared to its five day average of 112,602 shares, a decrease of -44.57 percent.

#1 Profit increases 0.8% to Rs 253.6 crore Vs Rs 251.7 crore, YoY

#2 Revenue grows 6.8% to Rs 1,104.2 crore Vs Rs 1,034.4 crore, YoY

Nuvama Wealth Management was quoting at Rs 1,272.75, down Rs 60.75, or 4.56 percent.

It has touched an intraday high of Rs 1,328.50 and an intraday low of Rs 1,241.10.

In the previous trading session, the share closed down 3.53 percent or Rs 48.80 at Rs 1,333.50.

The share touched a 52-week high of Rs 1,702 and a 52-week low of Rs 913.56 on 30 June, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 25.22 percent below its 52-week high and 39.32 percent above its 52-week low.

Market capitalisation stands at Rs 23,144.70 crore.

#1 Profit spikes 88.9% to Rs 7,188.4 crore Vs Rs 3,805.9 crore, YoY

#2 Revenue rises 5.2% to Rs 1.19 lakh crore Vs Rs 1.13 lakh crore, YoY

Bharat Petroleum Corporation was quoting at Rs 355.30, up Rs 6.00, or 1.72 percent.

It has touched an intraday high of Rs 359.75 and an intraday low of Rs 350.55.

It was trading with volumes of 278,186 shares, compared to its five day average of 165,301 shares, an increase of 68.29 percent.

Indian equity benchmarks traded modestly higher in late morning trade on Tuesday amid continued intraday swings. At 11:40 am, the Sensex was up 52 points, or 0.06 percent, at 81,590, while the Nifty rose 43 points, or 0.17 percent, to 25,091. Market breadth remained weak, with declines outnumbering advances, underscoring a cautious undertone. Sectorally, metal and PSU bank stocks outperformed, with the Nifty Metal index up over 2 percent and Nifty PSU Bank rising nearly 0.9 percent. The India VIX stayed elevated above 15, signalling persistent volatility despite marginal gains.

Silver-linked exchange-traded funds rallied sharply, emerging as the most actively traded securities on the NSE. Nippon India Silver ETF jumped nearly 7 percent to Rs 313, while Tata Silver ETF rose about 6.7 percent to Rs 31.6. Both ETFs saw exceptionally high volumes, underscoring heightened investor interest in silver during volatile equity market conditions.

Trading activity remained elevated in several large-cap names across exchanges. On the NSE, Axis Bank and HDFC Bank saw heavy volumes, while Eternal continued to attract strong participation amid intraday weakness. On the BSE, activity was pronounced in Mahindra & Mahindra, Laurus Labs, MCX, and Adani Green Energy.

Selling pressure persisted in several heavyweight stocks, weighing on the Nifty amid choppy trade. Mahindra & Mahindra stock led the losers, sliding over 3.5 percent, while Kotak Mahindra Bank fell more than 3.5 percent. Auto stocks remained under pressure, with Maruti Suzuki declining over 2 percent. Weakness was also seen in Eternal and Wipro, while Max Healthcare Institute also traded lower, adding to the drag on the benchmark.

Buying interest was concentrated in select heavyweight stocks, lifting pockets of the Nifty amid choppy trade. Axis Bank stock led the gainers, rising over 5.5 percent. Adani group stocks were also strong, with Adani Enterprises up more than 4.5 percent and Adani Ports and Special Economic Zone gaining nearly 3 percent. Among other gainers, JSW Steel, Grasim Industries and UltraTech Cement advanced over 2 percent each, providing support to the benchmark.

Several sectors remained under pressure amid volatile trade. The Nifty Auto index fell 1.45 percent to 26,415, while Nifty Media slid over 2 percent to 1,321. FMCG and consumer durables stocks also traded lower, and weakness persisted in realty shares. Midcaps and smallcaps were largely flat, reflecting a cautious undertone in the broader market.

Select sectors traded higher in late morning trade despite choppy broader markets. The Nifty Metal index rose nearly 2 percent to 11,706, extending gains on strength in metal stocks, while the Nifty PSU Bank index climbed 0.63 percent to 8,836. Energy, infrastructure and oil & gas indices also edged higher, even as the India VIX jumped over 8 percent to 15.35, amid elevated market volatility.

#1 Profit zooms 150.2% to Rs 419.9 crore Vs Rs 167.8 crore, YoY

#2 Revenue surges 67.4% to Rs 4,081.8 crore Vs Rs 2,438.9 crore, YoY

JSW Energy was quoting at Rs 441.00, down Rs 37.55, or 7.85 percent.

It has touched an intraday high of Rs 477.40 and an intraday low of Rs 433.20.

It was trading with volumes of 520,500 shares, compared to its five day average of 79,373 shares, an increase of 555.77 percent.

The US FDA conducted an inspection at the group’s Unit-2 manufacturing plant in Ankleshwar, Gujarat. The inspection was carried out from January 19 to 23 and concluded with three observations. There were no data integrity-related observations.

Zydus Lifesciences was quoting at Rs 890.15, up Rs 8.20, or 0.93 percent.

It has touched an intraday high of Rs 898.00 and an intraday low of Rs 879.65.

It was trading with volumes of 14,105 shares, compared to its five day average of 23,401 shares, a decrease of -39.73 percent.

In the previous trading session, the share closed down 0.33 percent or Rs 2.90 at Rs 881.95.

The share touched a 52-week high of Rs 1,059.00 and a 52-week low of Rs 797.05 on 19 September, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 15.94 percent below its 52-week high and 11.68 percent above its 52-week low.

Market capitalisation stands at Rs 89,569.92 crore.

The Sensex was down 274.84 points or 0.34 percent at 81,262.86, and the Nifty was down 56.30 points or 0.22 percent at 24,992.35. About 1363 shares advanced, 2325 shares declined, and 157 shares unchanged.

Asian Paints, Tata Consumer Products, Aditya Vision, Bikaji Foods International, CG Power and Industrial Solutions, Vodafone Idea, International Gemmological Institute India, Mahindra Logistics, Marico, Motilal Oswal Financial Services, NESCO, Raymond, Spandana Sphoorty Financial, Vishal Mega Mart, and WeWork India Management will announce their quarterly earnings on January 27.

Sun TV Network was quoting at Rs 525.30, down Rs 39.60, or 7.01 percent.

It has touched an intraday high of Rs 550.80 and an intraday low of Rs 513.05.

It was trading with volumes of 48,721 shares, compared to its five day average of 14,261 shares, an increase of 241.65 percent.

In the previous trading session, the share closed up 2.31 percent or Rs 12.75 at Rs 564.90.

The share touched a 52-week high of Rs 691.00 and a 52-week low of Rs 485.10 on 15 April, 2025 and 23 January, 2026, respectively.

Currently, the stock is trading 23.98 percent below its 52-week high and 8.29 percent above its 52-week low.

Market capitalisation stands at Rs 20,701.27 crore.

Vishnu Prakash R Punglia has successfully completed and handed over the Silchar 24×7 Water Supply Project under

the AMRUT Mission in Assam.

The project was executed for the Assam Urban Water Supply & Sewerage Board (AUWSSB) at an approximate cost of Rs 177.47 crore.

Vishnu Prakash R Punglia was quoting at Rs 43.93, down Rs 1.09, or 2.42 percent.

It has touched a 52-week low of Rs 43.23.

It has touched an intraday high of Rs 45.02 and an intraday low of Rs 43.23.

It was trading with volumes of 1,860,479 shares, compared to its five day average of 906,934 shares, an increase of 105.14 percent.

Wockhardt announced that its novel intravenous antibiotic Foviscu (WCK 4282) has successfully met the primary endpoint in a Phase 3 clinical trial in patients with complicated urinary tract infections (cUTI) and acute pyelonephritis caused by Gram-negative bacteria, including extended-spectrum β-lactamase (ESBL)- producing pathogens. ESBL enzymes make many commonly used antibiotics ineffective and are a major cause of difficult-to-treat hospital infections.

Wockhardt was quoting at Rs 1,364, up Rs 18.10, or 1.34 percent.

It has touched an intraday high of Rs 1,407.35 and an intraday low of Rs 1,349.10.

It was trading with volumes of 12,475 shares, compared to its five day average of 39,367 shares, a decrease of -68.31 percent.

izmo has partnered with FordDirect, a joint venture between Ford dealers, Lincoln retailers and Ford Motor Company, to join the e-commerce platform for dealer solutions called The Shop.

IZMO was quoting at Rs 620.10, down Rs 7.00, or 1.12 percent.

It has touched an intraday high of Rs 646.70 and an intraday low of Rs 613.40.

It was trading with volumes of 4,086 shares, compared to its five day average of 5,509 shares, a decrease of -25.84 percent.

RailTel Corporation of India has received the Letter of Acceptance (LoA) from Andhra Pradesh Central Power Distribution Corporation for supply, installation, testing and configuration of software defined wide area network (SD-WAN) devices along with hardware and licenses at APCPDCL offices, with 5 years warranty and support.

Railtel Corporation of India was quoting at Rs 333.15, up Rs 5.10, or 1.55 percent.

It has touched an intraday high of Rs 335.50 and an intraday low of Rs 325.00.

It was trading with volumes of 58,778 shares, compared to its five day average of 365,994 shares, a decrease of -83.94 percent.