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Indian stock markets saw a volatile session on 29th January, with Sensex and Nifty recovering strongly from intraday lows. Metals and private banks led gains, supported by FII-DII buying and optimism over global trade deals.
Sensex Surges Over 900 Points
New Delhi: On 29th January 2026, the Indian stock market experienced a volatile session marked by sharp swings but ended on a positive note. The BSE Sensex rose by 221.69 points, closing at 82,566.37, while the Nifty 50 gained 76.15 points, settling at 25,418.90.
Intraday, the Sensex fell nearly 630 points, creating concerns among investors, but it staged a strong recovery of almost 900 points from its lowest level of the day. Analysts attribute this rebound to a combination of strong domestic buying and optimism regarding global trade developments.
Among the Sensex 30 constituents, some stocks saw strong buying, including Tata Steel, Larsen & Toubro, Eternal, Axis Bank, and NTPC. On the other hand, Asian Paints, Interglobe Aviation, Maruti Suzuki India, BEL, and M&M were among the top losers, reflecting mixed market sentiment.
In the mid-cap and small-cap space, minor buying was observed. The Nifty Midcap 100 Index rose 0.18%, while the Nifty Smallcap 100 Index gained 0.21%, indicating cautious optimism among retail and institutional investors.
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Nifty Metal Index led the gains, rising over 3%, marking its third consecutive day of strong performance.
Private Bank Index gained 1%, driven by positive buying sentiment.
Sectors like Nifty Auto (-0.68%), FMCG (-0.91%), IT (-0.76%), Media (-0.02%), Pharma (-0.81%), and PSU Banks (-0.79%) closed in the red, reflecting selective buying rather than broad-based rally.
| Index | Change |
|---|---|
| Nifty Metal | +3.07% |
| Nifty Private Bank | +1.03% |
| Nifty Auto | -0.68% |
| Nifty FMCG | -0.91% |
| Nifty IT | -0.76% |
| Nifty Pharma | -0.81% |
| Nifty PSU Bank | -0.79% |
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One key positive for the market was that foreign institutional investors (FIIs) turned buyers after 15 sessions, investing around ₹480 crore in the cash market. Domestic institutional investors (DIIs) continued their strong buying trend, contributing nearly ₹3,360 crore.
Experts suggest that potential announcements of US-India trade deals, especially after the recent India-EU trade agreement, could boost investor sentiment and significantly impact corporate earnings in FY27, leading to further market rallies.
The rally in metal stocks was supported by a combination of rising global metal prices, a weaker US dollar, and geopolitical tensions, which propelled the Nifty Metal Index to a record high. This strong momentum in metals underscores their role as a key driver of market performance.
Overall, despite intraday volatility, the Indian stock market ended positive, driven by selective sectoral buying, strong FII and DII participation, and optimism surrounding trade developments. Metals and private banks emerged as market leaders, while other sectors remained under pressure.
