Benchmark Indices Continued Their Positive Momentum

The Nifty ended 76 points higher, while the Sensex was up by 222 points

Shrikant Chouhan, 

Head Equity Research, 

Kotak Securities

Mumbai, 29 January 2026: Today, the benchmark indices continued their positive momentum. The Nifty ended 76 points higher, while the Sensex was up by 222 points. Among sectors, the Metal index outperformed today, rallying over 3 percent, whereas intraday profit booking was seen in the Defence index, which shed 1 percent. Technically, after an early morning intraday dip, the market took support near 25,150/81700 and reversed sharply. From the day's lowest point, the market rallied over 300/900 points. Additionally, on intraday charts, the market is holding an uptrend continuation formation, and on daily charts, it has formed a bullish candle, which supports further uptrend from the current levels. For trend-following traders, now 25,300/82200 and 25,150/81700 would act as key support zones. As long as the market is trading above these levels, the pullback formation is likely to continue. On the higher side, 25,500/82800 would be the immediate hurdle for the bulls. A successful breakout above 25,500/82800 could push the market up to 25,600-25,650/83100-83300. On the flip side, below 25,150/81700, the uptrend would become vulnerable.

Gaurav Garg, Lemonn Markets Desk, reports:

“Indian equity markets closed in the green on Wednesday after a sharp intraday recovery, supported by foreign fund buying, a strong rally in metal stocks and expiry-led volatility. The Sensex rebounded nearly 950 points from the day’s low to end up 339 points, or 0.41 percent, at 82,684, while the Nifty recovered from sub-25,250 levels to settle near 25,453, up 0.44 percent.

Sentiment improved as foreign institutional investors turned net buyers after 15 sessions, while domestic institutions continued aggressive accumulation. The Nifty Metal index hit a record high, led by a 17 percent surge in Hindustan Copper, amid a spike in global copper prices.

However, elevated India VIX and derivatives expiry kept volatility high, with caution suggesting that sustained upside hinges on a decisive break above the 25,500 level on the Nifty.”