Overview

• Sensex fell over 292 points as selling pressures hit auto, FMCG, and IT stocks.

• Metal stocks surged, led by Hindustan Copper shares’ 18% rally to record highs.

• Indian rupee hit record lows as the US Fed held rates and Union Budget 2026 uncertainty weighed.

Indian stock market today on January 29 faced selling pressure and benchmark indices showed bearish sentiments. Sensex was down 292.63 points or 0.36% at 82,052.05 at press time. Nifty also fell 80.95 points or 0.32% to 25,261.80. Earlier in the session, Sensex had fallen as much as 557 points to 81,787.52. Metal stocks emerged as top gainers, while auto, FMCG, and IT sectors struggled. Here’s everything you need to know about the stock market today based on Moneycontrol market data. 

Sectoral Trends

Nifty Metal index stood out as the star performer in stock market today. The index climbed over 2.3% to around 12,393 points, marking its third consecutive day of gains. Energy and oil & gas stocks also traded in the green zone, supporting the broader market.

On the other hand, Nifty Auto index fell about 1.6%. Meanwhile, Nifty FMCG index slipped over 1.4%. IT sector also bore the brunt with Nifty IT index declining nearly 1.4%. Both midcap and smallcap indices traded lower during the session.

Major Stock Movers

Hindustan Copper share price surged 18% to hit an all-time high of Rs. 745. The stock has rallied a massive 305% in just nine months from its 52-week low of Rs. 183.82. Many other Nifty 50 stocks touched fresh 52-week highs as well. Hindalco Industries stock hit Rs. 1,029.20, while Tata Steel touched Rs. 198.75.

ONGC share price was up to Rs. 275.73, and Coal India reached Rs. 452.90. In the financial sector, State Bank of India shares touched a 52-week high of Rs. 1,075. Meanwhile JSW Steel and Shriram Finance also hit fresh yearly highs.

Maruti Suzuki shares, on the other hand, extended their losing streak for the seventh straight day. The stock fell 3% during trading. The auto major was among the top losers on Nifty 50 in the stock market today.

Share Market News: Corporate Earnings Updates

Larsen & Toubro reported a 4% decline in consolidated net profit at Rs. 3,215 crore for Q3. Although the company’s revenue grew 10% to Rs. 71,450 crore. The stock also surged over 2% on strong order inflows and improved margins. The company made a one-time provision of Rs. 1,191 crore for employee benefits.

Gland Pharma shares jumped 8% after reporting strong quarterly results. The company's Q3 profit rose 27.7% to Rs. 261.5 crore and the revenue was up 22.5% to Rs. 1,695.4 crore.

SBI Cards and Payment Services saw a 45.2% jump in Q3 profit to Rs. 556.6 crore. However, the stock went down by 1.3% at Rs. 772.

Heritage Foods fell to a nine-month low, dropping 9.7% to Rs. 358. The dip came after  a 20% decline in Q3 net profit of the company as higher milk procurement prices hurt margins.

Also Read: Vodafone Idea Share Price at Rs. 9.94, Up 1.12% on Promising Q3 Results

Global Influences

The US Federal Reserve kept interest rates unchanged at 3.5%-3.75%, as widely expected. Fed Chair Jerome Powell on Jan 28 indicated the US central bank was ‘well-positioned to wait’ and observe economic developments before making any rate changes. Asian markets traded lower following the Fed decision, with Taiwan Weighted down 0.5%. Wall Street showed mixed performance, with the S&P 500 ending virtually flat.

Currency and Commodities

Indian rupee hit a fresh record low, opening at 91.99 per dollar and crossing the 92 mark for the first time. This continued weakness in the domestic currency added to market concerns.

Gold and silver ETFs dominated trading activity. Nippon India Silver ETF soared 5.7% and Nippon India ETF Gold BeES surged over 7%. Experts predict gold prices may climb over $8,000 by 2027.

Oil prices rose for the third consecutive day on increasing concerns about potential US military action against Iran. This could disrupt supply from the Middle East region.

Market Outlook

The stock market today reflected cautious sentiment ahead of the Indian Union Budget 2026 presentation scheduled on Feb 1. While FIIs turned net buyers after fifteen sessions of selling, purchasing shares worth Rs. 480 crore, overall market direction remains uncertain. Analysts expect consolidation to continue with support placed at 25,200 levels for Nifty. Investors should keep an eye on upcoming earnings reports and budget updates.

Also Read: US Stock Market Today: S&P 500 Tops 7,000 as Investors Await Fed Decision and Big Tech Earnings

FAQs

1. What was Sensex down today?

Sensex declined today as there was widespread selling in major sectors such as auto, FMCG, and IT. Investors were wary leading up to the Union Budget and responded to global signals after the US Federal Reserve decided to keep interest rates as they are. A generally weak market, rising instability, and worries about the rupee reaching record lows further discouraged risk during the day's trading.

2. Why did metal stocks rise in the Indian stock market today?

Metal stocks increased because investors moved into commodity-related stocks given global economic uncertainty. Higher metal prices, projections of strong demand, and advantages from a weaker rupee helped the sector. Stocks like Hindustan Copper, Tata Steel, and Hindalco increased due to better earnings predictions and strong price trends, helping metals stand out despite overall market weakness.

3. Should investors be worried about the falling Indian rupee?

Indian rupee reaching record lows causes worries about increased import costs, particularly for crude oil, which can drive inflation higher. It may also have an impact on India’s trade balance and hurt foreign investor confidence. Although exporters might benefit in the short term, a consistently weak rupee often increases market swings and uncertainty for stock investors.

4. What is the latest US Fed rate cut news? 

The Federal Reserve maintaining steady interest rates suggested that global money conditions will stay tight for a longer period. Fed Chair Jerome Powell’s remarks on Jan 28 hinted that there was no need to cut rates quickly, which made global markets cautious. This influenced Indian stocks as investors reduced their exposure to riskier assets and awaited clearer signs about future monetary policy.

5. What is the future outlook for Indian stock market?

Investors should pay close attention to the Union Budget announcements, specifically regarding government spending and infrastructure. Changes in the rupee, crude oil prices, and global interest rate predictions will also be important. Also, sector trends in metals, energy, and banking stocks, together with foreign investor actions, will shape the market direction in the near future.