The key equity indices trade with moderate gains in Mid-afternoon trade as value buying emerged, supported by positive economic data and the Economic Survey’s growth forecast of 6.8%–7.2% for FY27. Participants are keeping a close watch on the rupee’s movement, ongoing Q3 corporate earnings, and evolving geopolitical developments.
Investors are also awaiting quarterly results from ITC, Tata Motors, and Vedanta, due later today, along with the upcoming Union Budget 2026 scheduled for February 1, 2026. Meanwhile, the Nifty traded above the 25,400 level.
Auto shares declined after registering gains in the previous trading session.
At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 185.55 points or 0.23% to 82,530.23. The Nifty 50 index added 68.60 points or 0.27% to 25,411.35.
In the broader market, the S&P BSE Mid-Cap index remained flat and the S&P BSE Small-Cap index fell 0.41%.
The market breadth was strong. On the BSE, 1,578 shares rose and 2,563 shares fell. A total of 160 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.09% to 13.67.
Economic Survey 2025-2026:
The Economic Survey 2025–26, tabled in Parliament on January 29 ahead of the February 1 Union Budget, highlighted both improving macro fundamentals and a clear shift in India’s export strategy as exporters steadily reduce their reliance on the US amid tariff-related uncertainties. The survey noted that while the India–US trade agreement remains under discussion, export data for April to November FY26 show a pivot towards West Asia, Europe, Africa and parts of Asia to sustain growth. Sectors such as gems and jewellery, marine products, auto components and textiles saw weaker demand from the US, but this was offset by stronger shipments to alternative markets, while pharmaceuticals remained resilient with healthy growth led by Africa, Latin America and Europe.
On the broader economy, the survey said the fiscal deficit has sharply improved from 9.2% of GDP in FY21 to 4.8% in FY25 and is budgeted at 4.4% in FY26, while real GDP growth for FY26 is estimated at a robust 7.4%, driven largely by domestic demand. Looking ahead, the Indian economy is expected to grow 6.8%–7.2% in FY27, supported by strong macro fundamentals and ongoing regulatory reforms, underscoring a combination of internal strength and strategic diversification on the global trade front.
Economy:
India’s industrial production rose to a 26-month high of 7.8% in December, up from 7.2% in November, according to data released by the government on January 28. The sharp pickup was driven by a broad-based acceleration across manufacturing, capital goods and infrastructure-linked segments, signalling resilient momentum at the end of the calendar year.
Buzzing Index:
The Nifty Auto index fell 0.96% to 26,481.60. The index gained 0.69% in the past trading session.
Maruti Suzuki India (down 2.57%, Mahindra & Mahindra (M&M) (down 2.55%), TVS Motor Company(down 2.07%), Bharat Forge (down 1.51%), Uno MInda Corporation(down 0.90%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was added 0.18% to 6.715 as compared with the previous close of 6.703.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 91.8950 compared with its close of 91.9975 during the previous trading session.
MCX Gold futures for 5 February 2026 settlement rallied 5.75% to Rs 1,75,450.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 96.26.
The United States 10-year bond yield rose 0.31% to 4.264.
In the commodities market, Brent crude for March 2026 settlement advanced $1.15 or 1.68% to $69.55 a barrel.
Stocks in Spotlight:
Quadrant Future Tek rose 3.28% after the company received a major domestic order from the Integral Coach Factory, Chennai. The company said it has received and accepted an offer from ICF for the supply, retrofitting, testing and commissioning of 192 onboard KAVACH equipment Version 4.0.
The contract includes warranty and long-term annual maintenance. The total contract value stands at Rs 230.42 crore. The order is to be executed within 12 months and is entirely domestic in nature.
GE Vernova T&D India rallied 7.86% after the company’s standalone net profit surged 103.81% to Rs 290.8 crore on 58.4% increase in revenue from operations to Rs 1700.64 crore in Q3 FY26 over Q3 FY25.