Post-Market Report: Sensex and Nifty Scale New Heights on India-EU FTA Optimism

Market Performance Today

The Indian stock market extended its winning streak for the second consecutive session on Wednesday, January 28, 2026, with both benchmark indices settling at record closing levels. The 30-share BSE Sensex jumped 487.20 points, or 0.60%, to finish the day at 82,344.68. During intraday trade, the index touched a high of 82,503.97.

Similarly, the broader NSE Nifty 50 surged 167.35 points, or 0.66%, to end at 25,342.75. The market opened on a positive note following strong global cues and maintained its momentum throughout the session, despite some bouts of volatility.

Top Movers (Sectors and Stocks)

The day was dominated by state-run enterprises and commodity-linked stocks, while the auto sector faced pressure due to tariff adjustments in the new trade deal.

• Top Gainers: Bharat Electronics (BEL) was the star performer, surging nearly 9% following robust Q3 earnings. Other major gainers included ONGC (up over 8%), Coal India, Eternal Ltd, Hindalco, and Bajaj Finance.
• Top Losers: Asian Paints dropped over 4% after reporting a decline in consolidated net profit. Tata Consumer Products, Maruti Suzuki, Sun Pharma, and Infosys were also among the primary laggards.
• Sectoral Performance: The Nifty CPSE index led the sectoral charts with a 5% jump, followed by Oil & Gas (3.4%) and Metals (2.3%). Conversely, the Auto sector fell roughly 0.9% as investors weighed the impact of slashed car tariffs under the India-EU FTA.

Key Drivers of Today's Market

Several factors converged to drive the indices to record territory:

• India-EU FTA: The primary catalyst was the finalization of the "mother of all deals"—a free trade agreement between India and the European Union. The pact is expected to reduce tariffs on 99% of Indian exports to the EU, significantly boosting the outlook for textiles, chemicals, and pharma.
• Strong Earnings: Positive Q3 FY26 results from heavyweights like BEL and TVS Motor provided fundamental support to the rally.
• Supportive Global Cues: A weak US dollar index and a stronger Indian Rupee improved risk appetite among domestic investors.
• Budget Anticipation: With the Union Budget 2026 approaching, stocks related to capital expenditure saw increased buying interest in expectation of continued government focus on infrastructure.

Broader Market Performance

The broader market significantly outperformed the front-line benchmarks, indicating a healthy and widespread participation in the rally. The Nifty MidCap 100 index gained 1.66%, while the Nifty SmallCap 100 index soared 2.26%. The market breadth remained strongly in favor of the bulls, with over 2,600 shares advancing on the BSE compared to approximately 1,300 declines. The India VIX, a measure of market volatility, cooled off by over 5%, settling around the 13.70 level.

TAGS: Post-Market, Stock Market, Nifty, Sensex, Market Analysis

Tags: Post-Market Stock Market Nifty Sensex Market Analysis