Stock Market Today: Sensex at 82,259, Nifty Above 25,300; Vedanta Share Price Rises 3.4%

Overview

• Sensex rose 490 points to 82,259, while Nifty was up 0.60% on broad-based buying.

• ONGC share price jumped 5.62%, metals rose 2%, while FMCG and auto stocks fell 1%.

• Gold hit $5,220, RBI announced $10 billion swap, DIIs bought Rs. 9,000 crore.

Indian stock market today showed bullishness on Jan 28. Benchmark indices climbed, driven by sector-specific rallies and favorable global developments like Indian-EU Free Trade Agreement. Sensex was up by 490 points at 82,259 at press time. Meanwhile, Nifty was up by 151.55 points or 0.60% at 25,326.95. The surge reflected broad-based buying interest in metal, energy, and financial stocks.

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

Sectoral Highlights

Metal stocks were the top gainers, surging 2% alongside energy and oil and gas indices. However, auto and FMCG sectors faced selling pressure, declining around 1% each. Market breadth was healthy and over 2,400 shares advanced against 1,168 declining stocks on NSE. Nifty Midcap index gained 0.5% and smallcap indices climbed 1%.

Share Market News: Key Corporate Developments

ONGC share price was one of the biggest gainers in stock market today. The shares jumped 5.62% to Rs. 262. The surge came after the company announced that its joint ventures with Mitsui OSK Lines entered into shipbuilding contracts with Samsung Heavy Industries. The contracts are for constructing two very large ethane carriers. The stock also touched a fresh 52-week high of Rs. 266.05 on the news, with trading volumes surging over 500%.

Larsen & Toubro secured a contract from the Royal Commission of Riyadh City in Saudi Arabia for the extension of the Riyadh Metro. The order is for designing and turnkey construction of an 8.4 km metro line with five stations. The stock went up 0.32% to Rs. 3,802.

Vedanta announced plans to sell up to 6.7 crore equity shares, around 1.59% of paid-up equity of Hindustan Zinc. The sale would be made through an offer-for-sale on January 28-29. The floor price was fixed at Rs. 685 per share. Vedanta shares climbed 3.45% to Rs. 730. On the other hand, Hindustan Zinc declined 1.13% to Rs. 718.40 as investors assessed the dilution impact.

1.01 million JSW Energy shares were traded in a block, with the stock gaining 2.13% to Rs. 448.75. Tata Power Company was up 1.82% to Rs. 354.40 after its 2.16 million shares changed hands in two separate block deals.

Quarterly Earnings Updates

Motilal Oswal Financial Services reported marginal profit growth of 0.25% to Rs. 566 crore for Q3. Meanwhile, the revenue increased 5.9% year-on-year. The stock surged 9.46% to Rs. 803.35 following the results announcement.

Marico’s profit soared 13.3% to Rs. 460 crore with revenue jumping 26.6% to Rs. 3,537 crore. However, the stock declined 1.73% to Rs. 733 as investors booked profits.

Vodafone Idea narrowed its quarterly losses to Rs. 5,286 crore from Rs. 6,609 crore year-on-year. Its ARPU (Average Revenue Per User) improved to Rs. 186 from Rs. 173. The stock traded flat.

RBI Swap Auction 

The Reserve Bank of India announced it would conduct a $10 billion USD/INR Buy/Sell Swap auction. It would be for a three-year tenure starting on February 4, 2026. The auction timing is scheduled between 10:30 AM and 11:30 AM, with the spot leg on February 6, 2026.

Currency and Commodity Movements

Indian rupee opened stronger at 91.61 per dollar compared to the previous close of 91.72, gaining 11 paise. The currency later traded at 91.60, showing continued strength against the US dollar.

Gold prices hit an all-time high globally. The prices went above $5,220 per ounce as the dollar weakened to a four-year low. Silver futures also surged nearly 6.5% to reach a lifetime high of Rs. 3,79,400 per kilogram in March expiry contracts. The jump boosted silver ETFs significantly.

Market Outlook

The stock market today reflected cautious optimism as investors await the Union Budget on February 1 and the US Federal Reserve's policy decision. Foreign institutional investors continued selling. However, domestic institutional investors offered strong support by purchasing equities worth Rs. 9,000 crore. Analysts suggest Nifty needs to decisively break above 25,500 to confirm a sustained uptrend

FAQs

1. Why did the stock market go up today?

The market went up because people were buying metal, energy, and bank stocks. Good news from around the world, rising raw-material prices, and strong buying by Indian institutions offset foreign investors selling.

2. Which stocks did the best today?

ONGC did the best, rising by more than 5% after saying it had big shipbuilding deals. Metal stocks also went up almost 2%, and some energy and power stocks were bought in big chunks. L&T and Vedanta stocks were also in focus. 

3. Why did consumer goods and auto stocks drop today?

Auto and consumer goods stocks were sold off as investors took their profits and moved their money into areas that do better when the global economy grows and commodity prices rise, like metals and energy.

4. How did gold and currency markets affect stocks?

Gold hitting a record of $5,220 showed people were avoiding risk around the world, while a stronger rupee helped the mood. But rising gold prices also showed investors are still cautious before important events.

5. What should investors watch for next in the market?

Investors are watching the Union Budget on February 1, the US Fed's decision, and whether the Nifty can go above 25,500; an even stronger rise would follow. Favourable global cues like the impact of the India-EU Free Trade Agreement would also impact the stock market in the coming days.