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After Economic Survey, the BSE Sensex rose to day’s high of 82,615, up 267 points or 0.33%, as of 2:00 pm, while the NSE Nifty rises above the 25,400 mark at 25,433.60, up 0.34%.
Why Is Stock Market Rising Today?
Why Is Share Market Rising Today, January 29? The domestic equity market staged a sharp recovery during Thursday afternoon, recovering from the day’s lows, with the BSE Sensex surging 905 points from its day’s low of 81,707.94 and the NSE Nifty rising above 25,400. The BSE Sensex was trading at the day’s high of 82,615, up 267 points or 0.33%, as of 2:00 pm, while the NSE Nifty rose above the 25,400 mark at 25,433.60, up 91.55 points or 0.34% compared with the previous close.
The BSE Metal index gained nearly 2.47 per cent to hit a record high. Hindustan Copper hit its upper circuit of 20%. Nalco surged by 5.75 per cent, VEDL rose by 3.8 per cent, NMDC jumped 3.79 per cent, Jindal Steel was up 3.66 per cent and Tata Steel gained 3.61 per cent.
In the morning trade, the BSE Sensex had fallen to the day’s low of 81,707.94 at around 10:00 am, while the NSE Nifty had declined below the 25,200 mark before staging a smart recovery.
In the broader market, small and midcap stocks also recovered from day’s low. The BSE 150 MidCap Index was trading marginally lower by 0.05 per cent and the BSE 250 SmallCap Index was down nearly 0.5%.
Why markets staged a sharp recovery today:
Metal stocks extend rally on global cues
The BSE Metal index gained nearly 2.47 per cent to hit a record high. Hindustan Copper hit its upper circuit of 20%. Nalco surged by 5.75 per cent, VEDL rose by 3.8 per cent, NMDC jumped 3.79 per cent, Jindal Steel was up 3.66 per cent and Tata Steel gained 3.61 per cent.
Supporting the rally, three-month copper prices on the London Metal Exchange jumped 6.7 per cent to a record high of $13,967.50 a tonne.
Expiry-led volatility, technical support kicks in
Markets witnessed sharp swings on January 29 as the session coincided with the monthly Sensex F&O expiry, a day typically marked by heightened volatility. The India VIX, a key volatility gauge, rose around 2 percent, reflecting nervous but active trading.
Despite the choppiness, benchmark indices recovered strongly from intraday lows, with Nifty, Sensex and Bank Nifty gaining over 1 percent by the close.
“For day traders now, 25200/82000 would act as a key support zone. Above 25200/82000, the pullback rally could continue till 25500/82800. Further upside may also continue, potentially lifting the index to 25575/83000. On the flip side, below 25150/81900, sentiment could change, and the index may gradually fall to 25000/81500-24900/81200. The strategy should be to buy Nifty between 25300-25250, but with a strict stop loss at 25150,” said Shrikant Chouhan, Head of Equity Research, Kotak Securities.
FII buying returns after 15 sessions
Sentiment improved as foreign institutional investors (FIIs) turned net buyers after 15 consecutive sessions, purchasing shares worth Rs 480 crore in the cash market. Domestic institutional investors (DIIs) continued to provide strong support, investing Rs 3,360 crore during the session.
“Markets can always surprise. Some positive news/event can trigger a rally in the market. There are rumours of a sudden announcement of a US-India trade deal. If that happens close on the heels of the path breaking India-EU-trade deal, that would be a major boost to Indian economy and corporate earnings in FY27, and therefore, the market will respond positively,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Economic Survey adds to sentiment support
Market mood also drew support from the broadly positive tone of the Economic Survey 2025-26, which reinforced confidence in India’s macro fundamentals despite global uncertainty. The Survey projected 7.4 per cent real GDP growth for FY26 and 7.2 per cent for FY27, and highlighted easing inflation, improved fiscal metrics and a multi-decadal low in banking sector stress.
With headline inflation averaging 1.7 percent during April–December 2025, gross NPAs at 2.2 percent, rising revenue receipts and strong external buffers, the Survey helped reassure investors that the recent market correction is not being driven by any deterioration in domestic fundamentals.
The emphasis on sustained public capital expenditure, revival in private investment and structural gains in manufacturing and services added to the stabilisation in sentiment, especially as markets were already grappling with expiry-led volatility.
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January 29, 2026, 14:21 IST
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