TLDR
Market Recap: January 29, 2026
On January 29, Indian equities closed higher for a third straight session after early volatility, supported by a strong metal-led rally and improved sentiment post the Economic Survey ahead of the Budget. Sensex ended at 82,566.37, up 221.69 points (+0.27%), while Nifty 50 closed at 25,418.90, up 76.15 points (+0.30%). Broader markets stayed positive with Nifty Midcap 100 +0.18% and Nifty Smallcap 100 +0.20%, while India VIX eased to 13.3225 (about -1.50%) signalling contained near-term risk pricing. Institutional flow data published so far shows FII cash net buy of ₹480.26 cr and DII net buy of ₹3,360.59 cr (latest available: Jan 28, provisional), keeping the tape supported into month-end events.
Key Drivers :
Survey boost into Budget positioning: FY27 growth guidance and fiscal path commentary kept dip-buying active despite choppy expiry swings.
Metals leadership stayed strong: Heavyweights in metals led the rebound and helped absorb stock-specific earnings volatility.
Volatility cooled even on expiry: VIX drifted lower, suggesting traders were not aggressively bidding protection despite intraday swings.
Today’s Top Stories:
Tata Motors: One-offs crushed headline profit, but core profitability looked stronger; focus shifts to post-demerger execution.
Adani Power: Demand softness hit Q3 numbers, yet the stock held up as expectations were already lowered.
Swiggy: Instamart-led growth powered revenue, losses narrowed sequentially, and the market stays locked on unit economics.
Canara Bank: PAT beat could not offset a core income miss, and the stock dropped as margin scrutiny intensified.
Maruti Suzuki: Profit missed estimates, shares slid, and autos stayed sensitive to margins, exports, and policy headlines.
TOP STORIES
1. Tata Motors’ profit slumps on one-time charges, core stays steady
Gemini-2.5
Print: Q3 profit ₹5.61 bn, down 60% YoY; one-time charges ₹15.45 bn hit headline.
So what: Ex one-offs, PBT rose 45%; demand outlook held up into Q4.
Tape: Market looked through noise, focusing on post-demerger execution and mix.
Tata Motors headline profit slumped on one time charges, but core improved. Your read?
2. Adani Power profit falls 19% as demand eases, stock holds up
Gemini-2.5
Print: Q3 profit ₹24.8 bn, down 18.9%; revenue down 8.9% to ₹124.51 bn.
So what: Weather-led demand softness hurt volumes; recovery signs emerged in December.
Tape: Shares rose about 0.9%, suggesting expectations were already reset.
Adani Power profit fell 19% on softer demand, stock still held up. What next?
3. Swiggy revenue jumps 54% on Instamart, losses still heavy
Gemini-2.5
Print: Revenue ₹61.48 bn, up 54%; loss narrowed slightly QoQ to ₹10.65 bn.
So what: Quick commerce scaled fast; network density and dark stores drove efficiency gains.
Tape: Investors stayed locked on unit economics and the Q1 FY27 break-even target.
$SWIGGY.NSE ( ▲ 2.67% )
Swiggy revenue surged on Instamart, losses remain large. Your stance?
4. Canara Bank beats on profit, stock drops on core income miss
Gemini-2.5
Print: Q3 profit ₹5,155 cr, up 26% YoY; NII ₹9,252 cr, up about 1.1%.
So what: Market penalized weaker core income versus expectations, keeping NIM scrutiny alive.
Tape: Shares fell up to about 4.5% despite the headline profit beat.
Canara Bank profit beat, but core income missed and the stock dropped. What matters most now?
5. Maruti slips after Q3 miss, autos stay under pressure
Gemini-2.5
Print: Profit rose about 3.7% to ₹3,794 cr, but missed estimates; one-time costs flagged.
So what: Margins and exports are the swing factors, not volumes alone.
Tape: Shares dropped over 3% and dragged the auto pack.
Maruti profit rose but missed expectations, stock fell over 3%. Your call?
GYAANI HOT TAKES
Disclaimer:
The IndiaStox Research Hackathon is intended for educational and community engagement purposes only. Submissions do not constitute investment advice, nor should they be construed as recommendations to buy or sell any securities.
By participating in the IndiaStox Research Hackathon and submitting content, you grant IndiaStox a worldwide, royalty-free, perpetual, and irrevocable license to use, reproduce, modify, publish, distribute, and display your submission, whether in whole or in part, across its digital platforms and in promotional materials. This license extends to both commercial and non-commercial purposes, including content seeding, editorial use, and advertising.
By submitting your work, you confirm that it is your original creation and that you have the right to grant the above license.
