Taking Stock: Nifty above 23,150, Sensex rises 632 points; all eyes on Fed decision

Market Today

The Indian benchmark indices continued the gaining momentum on the second consecutive session on January 29 with Nifty rising above 23,150 amid buying seen in the broader indices and across the sectors, barring FMCG.

The rally was driven by strong global cues ahead of US Federal Reserve’s rate decision later tonight.

At close, the Sensex was up 631.55 points or 0.83 percent at 76,532.96, and the Nifty was up 205.85 points or 0.90 percent at 23,163.10.

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On the sectoral front, media, capital goods, IT, metal, realty rose 2-3 percent, while auto, bank, pharma, oil & gas gained between 0.5-1.5 percent. The FMCG index was down 0.5 percent.

BSE Midcap index added 2.5 percent and Smallcap indices rose 3.2 percent.

Biggest gainers on the Nifty included Shriram Finance, Bharat Electronics, Wipro, Tata Motors, SBI Life, while losers were Asian Paints, Maruti Suzuki, BPCL, Britannia Industries, ITC.

Outlook for January 30

Index	Prices	Change	Change%
Sensex	85,265.32	158.51	+0.19%
Nifty 50	26,033.75	47.75	+0.18%
Nifty Bank	59,288.70	-59.55	-0.10%

Nifty 50 26,033.75 47.75 (0.18%)

Thu, Dec 04, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
TCS	3,229.20	49.20	+1.55%

Biggest Loser	Prices	Change	Change%
Interglobe Avi	5,436.50	-159.00	-2.84%

Best Sector	Prices	Change	Change%
Nifty IT	38360.30	535.00	+1.41%

Worst Sector	Prices	Change	Change%
Nifty Energy	34986.10	-118.90	-0.34%

Aditya Gaggar Director of Progressive Shares

After a long duration, Bulls have shown their power right from the word Go; the Index seen compounding its gains which was well supported by the strong performance of Mid and Smallcap stocks. Nifty50 settled the trade at 23,163.10 with gains of 205.85 points. Except for FMCG, all the other sectors ended in the green territory where Realty and IT emerged as top performers.

The positive divergence in the RSI worked well and at present, the Index stands on the brink of a Falling Wedge formation breakout which could drive the Index further up to 23,550 if the breakout occurs between 23,200-23,250. The immediate resistance and support are positioned at 23,270 and 23,000 respectively.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty moved up, shrugging off two days of weakness. Though sentiment has improved slightly, overall weakness is likely to persist as the index remains below the 21EMA.

On the lower end, 23,000 is likely to act as immediate support, and a fall below this level might trigger panic in the market. However, above 23,200, the Nifty could gather more strength.

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