The headline equity benchmarks traded with minor losses in early afternoon trade amid profit booking and mixed cues from global markets as cautious investor sentiment overshadowed optimism over the conclusion of the India–EU free trade agreement (FTA) and positive economic data. 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 below the 25,300 level. FMCG shares slipped for fourth consecutive trading session.
At 12:30 IST, the barometer index, the S&P BSE Sensex declined 228.63 points or 0.28% to 82,116.05. The Nifty 50 index fell 67.80 points or 0.27% to 25,274.95.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.63% and the S&P BSE Small-Cap index fell 0.83%.
The market breadth was weak. On the BSE, 1,417 shares rose and 2,605 shares fell. A total of 165 shares were unchanged.
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.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.24% to 13.49. The Nifty 24 February 2026 futures were trading at 25,369.80, at a premium of 94.85 points as compared with the spot at 25,274.95.
The Nifty option chain for the 24 February 2026 expiry showed a maximum call OI of 35.3 lakh contracts at the 25,500 strike price. Maximum put OI of 42.9 lakh contracts was seen at 25,000 strike price.
Buzzing Index:
The Nifty FMCG index declined 1.50% to 50,221.80. The index tanked 3.37% in the four trading session.
Emami (down 1.11%), United Breweries (down 1.08%), Dabur India (down 1.06%), ITC (down 0.99%), United Spirits (down 0.88%), Nestle India (down 0.65%), Colgate-Palmolive (India) (down 0.49%), Godrej Consumer Products (down 0.46%) and Britannia Industries (down 0.28%) declined.
Stocks in Spotlight:
ASK Automotive added 2.40% after the company reported an 21.29% rise in consolidated net profit to Rs 79.92 crore in Q3 FY26, compared with Rs 65.89 crore in Q3 FY25. Revenue from operations increased 18.48% YoY to Rs 1,084.22 crore in the quarter ended 31 December 2025.
Gland Pharma advanced 6.65% after the company reported 27.7% increase in consolidated net profit to Rs 261.48 crore on a 22.5% rise in net sales to Rs 1695.36 crore in Q3 FY26 as compared with Q3 FY25.