Overview

• Sensex fell over 500 points, and Nifty traded at 25,269 as heavy selling in metal and IT stocks weakened overall market sentiment.

• Nifty Metal plunged over 4% with Vedanta, Hindustan Zinc, and NALCO seeing sharp profit booking.

• Tata Motors Commercial Vehicles reported a 48% decline in quarterly profit to Rs. 705 crore. Meanwhile, Vedanta’s profit surged 61% to Rs. 5,710 crore. 

Indian stock market today, on January 30, 2026, witnessed a sharp wave of profit-booking. Sensex fell 509.13 points, or 0.62%, to 82,057.24 at press time. Nifty echoed the bearish mood by dipping 149.10 points or 0.59% to 25,269.80. BSE Smallcap index also declined 2.19%, losing 1,050.74 points.

Heavy selling in the metal and IT sectors triggered the downtrend. Investors chose to take money off the table ahead of the Union Budget 2026. This cautious mood was fueled by a sliding rupee and a sudden drop in global commodity prices, showing how sensitive the market has become to both domestic and international triggers.

Here’s everything you need to know about the stock market today based on Moneycontrol data. 

Sectoral Performance

Nifty Metal index was the biggest loser in the stock market today. The index plunged over 4% and broke its three-day winning streak. Metals' downward rally was led by Hindustan Zinc stock, falling 7.47%. Vedanta share price followed, down by 6.99%, and NALCO dropped 6.62%. 

The IT sector also faced pressure. Nifty IT index declined 1.39% as it extended losses for the second straight day. Tech Mahindra, Infosys, and HCL Tech led the sectoral decline with losses between 1.87% to 2.41%.

However, the FMCG sector offered some support, rising 1% and snapping a four-day losing streak. Nifty Bank index showed resilience, falling only 0.30% despite broader market weakness.

Share Market News: Earnings Drive Sentiment

ITC posted a marginal profit increase of 0.07% to Rs. 5,087.87 crore in Q3. The company's revenue grew 6.7% year-on-year to Rs. 21,706.6 crore. The board also declared an interim dividend of Rs. 6.50 per share. ITC shares traded at Rs. 321.95, up 1.04% on the news of better-than-expected Q3 results.

Tata Motors Commercial Vehicles disappointed investors with a 48% decline in quarterly profit to Rs. 705 crore. The company’s losses widened to Rs. 1,643 crore. Despite revenue jumping 16.1% to Rs. 21,847 crore, the stock fell 2.56% to Rs. 458.15.

Vedanta reported strong Q3 results with profit surging 61% to Rs. 5,710 crore and revenue jumping 37% to Rs. 23,369 crore. However, the stock declined 6.99% to Rs. 712.80 as profit booking set in after recent gains.

Paytm (One97 Communications) turned profitable with a net profit of Rs. 225 crore compared to a loss of Rs. 208 crore year-on-year. Revenue rose 20% to Rs. 2,194 crore, showing great operational improvement.

Swiggy stock, on the other hand, faced selling pressure, falling 6%. The drop came after the company reported losses of Rs. 1,065 crore in Q3, though revenue surged 54% to Rs. 6,148 crore. CLSA downgraded the stock to 'Hold' with a target price of Rs. 335. It cited disappointing quick commerce performance and missed revenue expectations.

Dixon Technologies bucked the trend, surging 2.87% after Q3 profit jumped 67.8% to Rs. 287.3 crore. The stock was among the most active in the F&O segment with trading value over Rs. 1,361 crore. Nomura maintained a 'Buy' rating with a target price of Rs. 14,678.

Manappuram Finance declined 1.90% to Rs. 291.15 after Q3 profit fell 15.9% to Rs. 381.2 crore, with net interest income slipping 0.9%. Jefferies maintained a 'Hold' rating with concerns over elevated stress in the non-gold loan book and near-term pressure on profitability.

NTPC Green Energy plunged 4.63% to Rs. 88.02. Its Q3 profit sank 73.4% to Rs. 17.5 crore due to joint venture losses of Rs. 31.95 crore. There was also a sharp drop in other income to Rs. 30.93 crore from Rs. 76.38 crore year-on-year.

Colgate Palmolive India hit a 52-week low of Rs. 2,030.75, declining 0.44%. The company posted flat Q3 results with profit rising just 0.3% to Rs. 323.9 crore and revenue up only 1.66%.

Budget Day Jitters Hit Markets

With the Union Budget 2026 scheduled for February 1, investors remained cautious as volatility is expected to stay elevated. The Economic Survey released ahead of the budget projected India's GDP growth at 6.8-7.2% for FY2. The survey highlighted key policy priorities, including urbanization, employment, AI ecosystem development, education reforms, and scaling up MSMEs. It is focused on helping the economy 'run a marathon and sprint at the same time'.

Also Read:  ITC Share Price Falls to Rs. 319 as Q3 Results Loom, Profit Likely Under Pressure

FII and DII Activity

Foreign Institutional Investors (FIIs) continued their selling spree. They offloaded equities worth Rs. 393.97 crore on January 29. Meanwhile, Domestic Institutional Investors (DIIs) offered support by purchasing shares worth Rs. 2,638.76 crore, helping cushion the market fall.

Global Cues

Asian markets traded mixed, with Hong Kong's Hang Seng falling 1.7% while South Korea's Kospi gained 1%. Oil prices hovered near multi-month highs with Brent crude futures falling 21 cents to $70.50 a barrel. They are heading for their biggest monthly gains in years amid tensions over a possible US attack on Iran. Indian rupee opened marginally higher at 91.92 per dollar versus the previous close of 91.95.

Investor Outlook

Today's correction is a classic example of pre-event nerves. With the Union Budget just 48 hours away, investors are feeling wary. The sharp fall in metals, despite strong corporate earnings from players like Vedanta, shows that global macro factors like US-Iran tensions are controlling the narrative in the stock market today.

The surge in volatility is expected to continue into next week. The focus will likely shift from broad index moves to specific sectors. These will include Defence, Infrastructure, and Renewable Energy, which are expected to be the big winners in the upcoming Budget.

For the market to regain its bullish momentum, foreign selling needs to slow down, and we need to see Nifty reclaim the 25,550 level. Until then, a ‘wait-and-watch’ approach is being adopted by most institutional players.

Also Read: US Stock Market Today: S&P 500 Futures Rise Slightly as Investors Question Returns on AI Data-Center Expenditure

FAQs

1. Why did Indian stock market go down today?
It fell because investors are jittery before the Union Budget scheduled for February 1. Many traders decided to book profits, especially in metals and IT. A weaker rupee, foreign investors selling shares, and falling global commodity prices made things worse.

2. Why are metal stocks like Vedanta crashing?

Nifty Metal index dropped over 4% today, stopping its three-day winning streak. Even though Vedanta and others had strong profits, its stock fell almost 7% as people sold to book early profits. Investors are also reacting to a big dip in global commodity prices, which hurts metal companies.

3. How is the IT sector doing in the stock market today?

IT is under pressure for the second day. Nifty IT index went down by 1.39%, with big losses in Tech Mahindra, Infosys, and HCL Tech. Investors are selling off tech stocks because of global economic uncertainty.

4. What are the latest updates on stock earnings?

ITC’s profits went up 0.07%, and the company announced a dividend of Rs. 6.50 per share. Paytm became profitable with Rs. 225 crore. However, Tata Motors stock fell 2.56% due to big losses of around 48%. Swiggy dropped 6% after reporting losses of Rs. 1,065 crore in Q3. NTPC Green Energy also saw a 73% profit fall.

5. What is the market outlook before the Union Budget 2026?

The market will likely be volatile until the Budget comes out on February 1. The Economic Survey says GDP should grow steadily at 6.8-7.2%, but foreign investors' selling remains a worry. Experts say to focus on companies that are doing well and to watch for government policy changes on infrastructure and jobs.