Indian Stock Market Poised for Flat Opening on January 29
The Indian stock market is anticipated to commence trading on a flat note this Thursday, January 29, as investors navigate a landscape of mixed signals from global markets. Early indicators from the Gift Nifty futures point towards a marginally negative start, with the index trading down by 62 points, or approximately 0.24%, settling at 25,364 levels.
Market Sentiment and Key Drivers
According to market experts, Indian equity markets are expected to open anywhere from flat to mildly positive. This cautious optimism is largely fueled by sustained positive sentiment surrounding the recently concluded India–European Union Free Trade Agreement (FTA). The agreement, which eliminates tariffs on an impressive 90–96% of traded goods, is viewed as a structurally positive development for India's export-oriented sectors.
Ponmudi R, CEO of Enrich Money, provided insights on the market outlook: "The FTA is a significant boost for sectors such as textiles, apparel, leather, gems & jewellery, marine products, tea, coffee, chemicals, and MSMEs. Beyond goods, it also facilitates technology inflows, enhances services mobility, and strengthens India's long-term competitiveness in the global arena."
However, he also cautioned that near-term market upside might face headwinds. These include persistent outflows from Foreign Institutional Investors (FIIs), strategic positioning by investors ahead of the upcoming Union Budget, and a cocktail of mixed global cues, notably the heightened geopolitical tensions in the Middle East region.
Previous Session Recap
On Wednesday, Indian stock markets closed firmly in the green, buoyed by broad-based buying activity. The benchmark indices posted solid gains, with the Nifty 50 successfully closing above the psychologically important 25,300 mark.
- The Sensex surged by 487.20 points, or 0.60%, to conclude at 82,344.68.
- The Nifty 50 advanced by 167.35 points, or 0.66%, settling at 25,342.75.
Stocks in Focus for Today's Trading Session
Against this backdrop, several stocks are poised to attract significant investor attention and could see heightened volatility during Thursday's trading session.
Key Companies Declaring Q3 Results
A cluster of major companies is scheduled to announce their quarterly earnings for the October-December period today. Investors will closely monitor the performance and management commentary from:
- ITC
- Tata Motors
- Swiggy
- Paytm
- Canara Bank
- Adani Power
- Vedanta
Quarterly Earnings Highlights
Larsen & Toubro (L&T): The engineering and construction giant reported a 4.3% year-on-year decline in its consolidated net profit for the December quarter. Profit slipped to ₹3,215 crore from ₹3,359 crore in the same quarter last fiscal year.
Cochin Shipyard: The state-owned shipbuilding company witnessed an 18% drop in consolidated net profit year-on-year for Q3. Earnings fell to ₹145 crore from ₹177 crore in the corresponding period last year.
Garden Reach Shipbuilders & Engineers: In contrast, this company reported a robust increase in net profit for the quarter ended December 2025. Profit rose to ₹171 crore, a significant jump from ₹98 crore recorded in the same quarter a year earlier.
Corporate Developments and Other News
Vedanta & Hindustan Zinc: Vedanta has decided to exercise the oversubscription option in its ongoing offer-for-sale. This move adds 1.4 crore shares of Hindustan Zinc to the base offer size of 3.35 crore shares.
Wipro: The technology services firm has forged a strategic partnership with Factory, a leading agent-native software development platform and a portfolio company of Wipro Ventures. This collaboration aims to assist enterprises in deploying and scaling agent-native development across their engineering teams.
Rail Vikas Nigam (RVNL): The joint venture between Rail Vikas Nigam and GPT has emerged as the lowest bidder for a Northern Railway project. The contract is valued at ₹1,201.35 crore.
Mahindra & Mahindra Financial Services (M&M Fin): The company delivered a mixed financial performance for the December quarter. It reported a net profit of ₹810.4 crore, which represents a 9.9% decline from the ₹899.5 crore profit posted in the same quarter last year.
NSDL: The depository reported a mixed Q3, with its net profit increasing by 4.4% year-on-year to ₹89.6 crore, up from ₹85.8 crore.
SBI Cards and Payment Services: The credit card issuer posted a rise in its third-quarter profit on Wednesday. The improved performance was supported by a surge in consumer spending on credit cards during India's recent festive season.
Disclaimer: This market analysis and information is provided for educational purposes only. Investors are strongly advised to consult with a qualified investment advisor before making any financial decisions.
