The indices opened flat, with the Sensex at 82,368.96 against the previous close of 82,344.68 and the Nifty at 25,345.00 versus 25,342.75, before falling into negative territory in early trade amid continued caution over the Union Budget on February 1.
Capital goods and metal stocks led the recovery, with Larsen & Toubro emerging as the biggest gainer on the Nifty50, up 3.43 per cent to ₹3,924.00. NTPC rose 2.63 per cent to ₹357.20, while Hindalco rose 2.35 per cent to ₹1,021.65. ONGC rose 2.24 per cent to ₹274.60 and Axis Bank rose 2.12 per cent to ₹1,347.80.
Consumer and auto stocks came under selling pressure with Asian Paints falling 3.73 per cent to ₹2,418.10, registering the sharpest fall in the index. SBI Life fell 3.28 per cent to ₹1,985.90, while Mahindra & Mahindra fell 3.21 per cent to ₹3,338.50. IndiGo fell 2.96 per cent to ₹4,608.50 and Maruti Suzuki fell 2.69 per cent to ₹14,477.00.
The market breadth remained negative with 2,592 shares declining against 1,429 advances on the BSE, while 153 remained unchanged. A total of 4,174 shares were traded. As many as 192 stocks hit their 52-week lows, compared to 88 at the 52-week high, while 172 stocks were in the lower circuit compared to 142 in the upper circuit.
Broader indices underperformed with the Nifty Midcap 100 down 0.67 per cent to 58,049.50 and the Nifty Smallcap 100 down 0.36 per cent to 16,732.75. The Nifty Next 50 fell 0.29 percent to 68,007.05 points.
Banking and financial stocks showed resilience with the Nifty Bank gaining 0.36 percent to 59,811.15 and the Nifty Financial Services rising 0.22 percent to 27,399.05.
The Economic Survey 2025-26 released earlier in the day highlighted a narrowing credit-GDP gap from -10.3 percent in the first quarter of 2025 to -0.3 percent in the first quarter of 2023, indicating sustained credit expansion and improved asset quality in the financial sector.
Published on January 29, 2026
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