Mumbai, Jan 29, 2026, 16:10 (IST)
- Sensex jumped 487 points while Nifty gained 0.7% on Jan. 28, buoyed by optimism over a potential India-EU trade deal
- India’s Economic Survey forecasted real GDP growth for FY27 between 6.8% and 7.2%, highlighting strong domestic demand prospects
- On Jan. 29, markets grew choppy as investors zeroed in on the federal budget and global interest rate cues
Indian shares pushed higher for a second day on Wednesday, with both the Sensex and Nifty closing up. Traders seemed buoyed by hopes of a free trade deal between India and the European Union, alongside a solid domestic economic backdrop. 1
The BSE Sensex climbed 487.20 points, or 0.60%, closing at 82,344.68. The NSE Nifty added 167.35 points, or 0.66%, ending at 25,342.75. Gains came largely from defence, financial, and infrastructure sectors, according to exchange data reported by local media. 1
This shift is crucial as India approaches its budget weekend, with investors adjusting expectations for domestic policy amid a U.S. Federal Reserve pause that tempered bets on near-term rate cuts. 2
The Economic Survey forecasted India’s real GDP growth for FY27 between 6.8% and 7.2%, highlighting robust domestic demand despite a shaky global backdrop. 3
On the Nifty 50, Bharat Electronics surged 8.91%, with ONGC climbing 8.33% among the biggest winners. Asian Paints dropped 4.24%, and Maruti Suzuki slid 2.42%, according to the Times of India. 1
“Indian equity markets ended the day higher,” said Ponmudi R, CEO at Enrich Money. He pointed to improving global signals and boosted sentiment following what he called the successful wrapping up of the India-EU free trade agreement. 1
The rally showed strong intraday momentum, with the Sensex surging up to 646.49 points to hit 82,503.97 before trimming some of those gains, according to PTI coverage featured in Deccan Herald. 4
Thursday’s edition of Moneycontrol’s “Closing Bell” focused squarely on the Economic Survey’s FY27 growth forecast, sparking lively debate among analysts like Centrum Broking’s Nilesh Jain, along with market veterans Anshul Saigal and Sunil Subramaniam. 5
By early Thursday, the mood turned sour: Indian benchmarks slipped after two straight days of gains, as focus shifted to the federal budget due Sunday. IT and auto shares took the brunt of the selloff, Reuters reported. 2
A major risk is that “deal optimism” wanes if the trade agreement timeline slips, and the budget falls short on growth support or fiscal targets. Foreign selling has been heavy this month, and overseas flows alongside rate expectations might keep volatility high, according to Reuters. 2
