Market Commentary - Quick Review
28-Jan-2026 15:56
Sensex, Nifty end with strong gains; broader mrkt outperform
Oil & gas, metal and media shares advanced while FMCG and pharma shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 487.20 points or 0.60% to 82,344.68. The Nifty 50 index added 167.35 points or 0.66% to 25,342.75. In two consecutive trading sessions, the Sensex added 0.99% while the Nifty rose 1.17%.
The broader market outperformed frontline indices. The S&P BSE Mid-Cap index rose 1.69%, while the S&P BSE Small-Cap index added 1.81%.
The market breadth was strong. On the BSE, 2,945 shares rose and 1,291 shares fell. A total of 144 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 6.93% to 13.45.
New Listing:
Shares of Shadowfax Technologies ended at Rs 109.90 on the BSE, representing a discount of 11.37% as compared with the issue price of Rs 124
The stock debuted at Rs 113 on the BSE, exhibiting a discount of 8.87% over the issue price.
The stock has hit a high of 119.55 and a low of 109. On the BSE, over 33.05 lakh shares of the company were traded in the counter.
Indian Politics:
Ajit Pawar, NCP chief and Maharashtra's Deputy Chief Minister, died in a plane crash near Baramati on Wednesday while travelling from Mumbai. Four others, including the pilots and his security personnel, were also killed. The small aircraft, a Learjet 45 operated by VSR, reportedly crashed during a landing attempt near Baramati airport about 45 minutes after take-off, as Pawar was on his way to attend public meetings ahead of the local body polls.
Television visuals showed fire and wreckage at the site, while media reports said all five people on board died. The 66-year-old leader was the nephew of Sharad Pawar and the cousin of Supriya Sule, both of whom were in Delhi and later arrived in Baramati.
Stocks in Spotlight:
TVS Motor Company rallied 4.72% after its standalone net profit jumped 52.04% to Rs 940.37 crore on 37.14% jump in revenue from operations to Rs 12,476.26 crore in Q3 FY26 over Q3 FY25. During the quarter under review, the company's electric vehicle (EV) sales rose 40% year on year to a record 1.06 lakh units in the quarter ended December 2025, compared with 0.76 lakh units in the corresponding period last year.
Vodafone Idea advanced 1.02% after the company's consolidated net loss narrowed to Rs 5,286 crore in Q3 FY26 from Rs 6,609 crore in Q3 FY25. Revenue for the quarter stood at Rs 11,323 crore, up 1.9% YoY.
Bharat Electronics (BEL) surged 8.90% after its standalone net profit jumped 20.81% to Rs 1,590.06 crore on 23.72% rise in revenue from operations to Rs 7,121.98 crore in Q3 FY26 over Q3 FY25. The company's order book position stood at Rs 73,015 crore as of 1 January 2026.
Maruti Suzuki India (MSIL) declined 2.39%. The company reported a 4.08% YoY rise in net profit to Rs 3,879.1 crore in Q3 FY26, compared with Rs 3,726.9 crore in Q3 FY25. Revenue from operations rose 29.2% YoY to Rs 47,534.4 crore, driven by a sharp recovery in the Indian car market led by the small car segment.
Sunteck Realty rose 1.62%. The company reported a 33.7% increase in consolidated net profit to Rs 56.84 crore on a 112.7% rise in revenue from operations to Rs 344.12 crore in Q3 FY26 over Q3 FY25.
Vishal Mega Mart tanked 4.12%. The company reported a 19.10% rise in consolidated net profit to Rs 312.92 crore in Q3 FY26, compared with Rs 262.72 crore posted in Q3 FY25. Revenue from operations rose 17.04% year-on-year (YoY) to Rs 3,670.41 crore for the quarter ended 31 December 2025.
Mahindra Logistics surged 15.33% after the company reported a consolidated net profit of Rs 3.25 crore in Q3 FY26, compared with a net loss of Rs 9.03 crore in Q3 FY25 Mahindra Logistics surged 14.65% to Rs 337 after the company reported a consolidated net profit of Rs 3.25 crore in Q3 FY26, compared with a net loss of Rs 9.03 crore in Q3 FY25..
Motilal Oswal Financial Services surged 7.69% after the company reported a strong set of earnings for the quarter ended December 2025. The company's profit after tax (PAT), including treasury income and other comprehensive income (OCI), jumped 58% year on year to Rs 721 crore in Q3 FY26, aided by healthy traction in its asset and private wealth management businesses. Total revenue improved 11% to Rs 1,497 crore in Q3 FY26 as against Rs 1,345 crore in Q3 FY25.
Bondada Engineering declined 3.58%. The company's consolidated net profit zoomed 119.12% to Rs 54.19 crore in Q3 FY26 as against Rs 24.73 crore in Q3 FY25. Revenue from operations jumped 89.40% year on year (YoY) to Rs 712.27 crore in Q3 FY26.
Nesco shed 1.48%. The company reported a 4.82% YoY decline in net profit to Rs 104.64 crore in Q3 FY26, on a 20.03% increase in revenue from operations to Rs 247.92 crore compared with Q3 FY25.
Global Markets:
European markets declined on Wednesday as investors digested a wave of corporate earnings and remained cautious ahead of the U.S. Federal Reserve's interest rate decision, due later in the day.
Investors will also be keeping an eye on U.S. earnings calendar on Wednesday with Microsoft, Meta Platforms, and Tesla set to post their quarterly financial results after the closing bell. Apple will post its results on Thursday.
Most Asian markets ended higher, with strong gains in technology and AI-related shares.
Meanwhile, Australia saw its headline inflation come in at 3.6% for the last quarter of 2025, its highest level of inflation in six quarters.
Overnight in the U.S., the Nasdaq Composite climbed 0.91% to settle at 23,817.10, while the Dow Jones Industrial Average broke ranks, losing 408.99 points, or 0.83%, and settling at 49,003.4 while S&P 500 added 0.41% to end at 6,978.60.
The S&P 500 futures edged higher ahead of the Federal Reserve's interest rate decision and earnings reports from major tech companies.
The central bank is widely expected to keep its benchmark interest rate steady at a target range of 3.5% to 3.75%, but traders will be seeking hints on longer-term changes to monetary policy.
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