Pre-Market Report: Nifty Crossed 25,400 as Rupee Hits Record Low

Markets finished in the green on Thursday, 29 January 2026, posting their third consecutive session of gains. The day did not start that way. Benchmarks fell in early trade before reversing course as sentiment gradually improved.

The BSE Sensex rose 221.69 points and closed at 82,566.37. The NSE Nifty 50 added 76.15 points, settling at 25,418.90. Both indices had dipped during morning hours before buyers stepped in.

Support came from the government’s Economic Survey for 2025-26, which projected GDP growth of 6.8–7.2% in the next fiscal year. The growth outlook helped steady sentiment after recent volatility.

Yesterday’s Market Recap

Thursday’s session was far from smooth. Markets opened lower, tracking weak cues from overseas, and stayed under pressure in early trade.

The tone shifted later in the day. Buying interest picked up after investors absorbed the Economic Survey’s growth projections.

Index

Nifty 50 — Close: 25,418.90 | % Change (1d): +0.30%

BSE Sensex — Close: 82,566.37 | % Change (1d): +0.27%

*As of 29 January 2026

Participation remained selective despite the rebound, indicating caution about currency fluctuations and global threats.

Sectoral Performance

Metal, power, and energy companies led the gains, drawing buying activity throughout the afternoon as potential for growth picked up. Strength in these segments played a key role in keeping the benchmarks in positive territory.

Not all sectors participated. IT, auto, and FMCG stocks finished lower, weighed down by earnings-related worries and margin pressures.

Stocks in Focus

The stock-specific action remained in effect. As investors responded to sector trends and earnings, a number of names saw significant changes.

Among the winners, Larsen & Toubro, Tata Steel, and Axis Bank stood out due to improved sentiment and strength in their respective industries.

Asian Paints and Maruti Suzuki India finished lower after reporting lower-than-anticipated quarterly results. These stocks were under pressure due to the disappointing results, which also limited the gain for the entire industry.

Rupee at an All-Time Low

Due to pressure from foreign outflows and ongoing global risk aversion, the Indian rupee reached a new record low of about ₹92 per dollar. For equity markets, currency fluctuations continue to be a crucial indicator.

The India VIX slipped to 13.37, down 1.18%, though intraday price action suggested caution remains.

Global Cues: What Do They Indicate?

In the US, all three major indices closed lower. The Dow Jones ended at 48,785.69. The S&P 500 declined to 6,913.55, while the Nasdaq fell 1.61% to 23,473.87.

Asian markets were mixed in early trade. Japan’s Nikkei 225 was marginally higher at 53,375.60, while Hong Kong’s Hang Seng rose 0.51% to 27,968.09.

Gift Nifty & Early Signal

The GIFT Nifty's 112-point decline to 25,404.50 (down 0.44%). Traders are pricing in headwinds from two fronts: uninspiring overnight action on Wall Street and continued strain on the rupee.

What Should We Expect in Today's Market?

Trading desks may adopt a wait-and-watch stance at the open, amid India's solid economic footing and choppy international markets, along with the rupee's weakness.

While the Economic Survey painted an encouraging picture, offshore events have not loosened their hold on trader psychology. Today's session will likely reward selective positioning, with earnings outcomes and sectoral shifts steering individual stocks more decisively than the overall market tide.

Sources:

Moneycontrol

BSE

NSE

PIB

The Hindu