The Indian stock market is anticipated to commence trading on a higher note this Wednesday, January 28, driven by the recently announced free trade agreement between India and the European Union and positive trends observed in global markets. Early indicators from the Gift Nifty suggest a firm opening, with the index trading up by 41 points, or 0.16%, reaching 25,485 levels. Asian markets have also opened mostly higher, while the US stock market concluded its previous session in mixed territory as investors await the Federal Reserve's interest rate decision and earnings reports from major technology companies.
Market Outlook and Expert Analysis
According to Ponmudi R, CEO of Enrich Money, Indian equity markets are expected to open on a firm footing today, extending the late-session recovery witnessed in the previous trading session. He noted that improving global risk sentiment is likely to encourage fresh buying from oversold levels and prompt short-covering across derivative segments. Furthermore, rising optimism ahead of the upcoming Union Budget could lend additional support to investor sentiment, setting the stage for a positive start to the trading session.
However, Ponmudi R also highlighted potential near-term headwinds that could restrain market momentum at higher levels. These include sustained pressure on the Indian rupee against the U.S. dollar, continued net selling by foreign portfolio investors, and unresolved geopolitical tensions in the Middle East. Despite these challenges, the overall sentiment remains cautiously optimistic.
Previous Session Recap
On Tuesday, Indian stock indices closed higher following Prime Minister Narendra Modi's announcement of a free trade agreement between India and the European Union. The Sensex finished at 81,857.48, gaining 320 points or 0.39%, while the Nifty 50 settled at 25,175.40, up 127 points or 0.51%. This upward movement reflects investor confidence in the potential economic benefits of the trade deal.
Stocks to Watch Today
Against this backdrop, several stocks are likely to attract investor interest and experience significant movement during today's trading session. Here is a detailed look at key companies and their recent developments:
Quarterly Results in Focus
Shares of Maruti Suzuki, Larsen & Toubro, TVS Holdings, Cochin Shipyard, and Bharat Electronics Ltd will remain in focus as these companies are set to declare their third-quarter results. Investors will closely monitor their financial performance for insights into sectoral trends and corporate health.
Corporate Announcements and Developments
Vedanta: The company has announced plans to sell up to 6.7 crore equity shares of Hindustan Zinc Ltd, representing 1.59% of its paid-up capital, via an offer for sale on January 28–29. This move could impact market dynamics for both Vedanta and Hindustan Zinc.
Vodafone Idea: The telecom operator delivered a sequential improvement in Q3 FY26, with its net loss narrowing to ₹5,286 crore from ₹5,524 crore in the previous quarter. This improvement was aided by higher average revenue per user and stronger operating performance.
Marico: The company posted a solid Q3 showing, reporting a net profit of ₹460 crore. Revenue for the quarter stood at ₹3,537 crore, indicating robust operational efficiency.
Life Insurance Corporation of India: According to an exchange filing, LIC has invested in 5.12 lakh debentures issued by Bajaj Finance Ltd, each with a face value of ₹1 lakh, taking the total investment to ₹5,120 crore. This strategic investment highlights LIC's confidence in Bajaj Finance's prospects.
Motilal Oswal Financial Services: The company reported a steady Q3FY26 performance, with consolidated net profit increasing 5.9% year-on-year to ₹565.9 crore. Revenue jumped 18% to ₹2,111.6 crore, reflecting strong growth in its financial services segment.
Rail Vikas Nigam: RVNL has been declared the lowest bidder for a ₹242.5 crore overhead electrification upgradation project awarded by South Central Railway, as per an exchange filing. This project win could boost the company's order book and future revenue streams.
ONGC: The company, via its joint ventures with Japan’s Mitsui OSK Lines, has signed shipbuilding contracts with South Korea’s Samsung Heavy Industries for the construction of two very large ethane carriers. This expansion into ethane transportation aligns with global energy trends.
PC Jeweller: The company delivered a solid Q3 performance, with net profit jumping 31% year-on-year to ₹190 crore. Revenue climbed 37% YoY to ₹875 crore, driven by strong festive and wedding-season demand along with better operating leverage.
Vishal Mega Mart: The retailer posted a robust Q3 showing, with net profit increasing 19.1% year-on-year to ₹312.9 crore from ₹262.7 crore. Revenue climbed 17% to ₹3,670 crore, indicating healthy consumer spending and operational efficiency.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
