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Last hour value buying fuel some recovery in markets
Jan-30-2026

Last hour value buying in the Indian markets ahead Union Budget 2026-27, fuelled some recovery in afternoon session, however, markets continued to trade below the neutral lines. The decline in intensity of Foreign Institutional investors’ (FIIs) selling has lend some support to the markets. However, weakness in Metal stocks have weighed on trading sentiments. Metal sector stocks like, Hindalco, Vedanta, Tata Steel, Hindustan Zinc and many other faced significant selling pressure, led by decline in commodity prices and profit booking.  

On the global front, Asian equity markets were trading mixed as Apple warned of rising memory chip prices. European equity markets were trading higher after U.S. lawmakers reached a bipartisan funding deal to avoid a government shutdown and reports emerged that President Donald Trump is set to announce former Federal Reserve official Kevin Warsh as his choice to replace Jerome Powell as the chair of the central bank.

The BSE Sensex is currently trading at 82343.34, down by 223.03 points or 0.27% after trading in a range of 81941.03 and 82430.82. There were 13 stocks advancing against 17 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 2.19%, FMCG up by 1.25%, Healthcare up by 0.95%, Consumer Durables up by 0.89% and Realty up by 0.76%, while Metal down by 4.59%, Basic Materials down by 2.38%, Energy down by 0.98%, Oil & Gas down by 0.92% and IT down by 0.74% were the top losing indices on BSE.

The top gainers on the Sensex were SBI up by 1.53%, Mahindra & Mahindra up by 1.34%, ITC up by 1.02%, Titan Company up by 1.01% and Bharat Electronics up by 0.85%. On the flip side, Tata Steel down by 4.37%, Power Grid Corporation down by 1.73%, ICICI Bank down by 1.72%, Tech Mahindra down by 1.51% and Trent down by 1.30% were the top losers.

Meanwhile, continuing structural reforms in the mining sector, the Government of India has accorded a Critical and Strategic Mineral status to Coking Coal under the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act). Although India has an estimated 37.37 billion tonnes of coking coal resources, largely located in Jharkhand, with additional reserves in Madhya Pradesh, West Bengal and Chhattisgarh, the country remains heavily dependent on imports. Besides, around 95% of the coking coal requirement of the steel sector is currently met through imports, leading to significant foreign exchange outgo.

Classifying coking coal as a critical and strategic mineral will enable optimal utilisation of domestic coking coal resources and reinforce national mineral security. This move is expected to facilitate faster approvals, improve ease of doing business, and accelerate exploration and mining activities, including of deep-seated deposits. Mining of critical minerals is exempt from public consultation requirements and permits the utilisation of degraded forest land for compensatory afforestation, measures that are also expected to encourage greater private sector participation.

This will also reduce import dependence, strengthen supply-chain resilience for the steel sector, and support the objectives of the National Steel Policy. It is also expected to promote private investment in exploration, beneficiation, and the adoption of advanced mining technologies, while generating employment across the mining, logistics, and steel value chain.

The CNX Nifty is currently trading at 25322.50, down by 96.40 points or 0.38% after trading in a range of 25213.65 and 25370.70. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Nestle up by 3.18%, Tata Consumer Products up by 2.46%, Apollo Hospitals Enterprise up by 2.30%, Mahindra & Mahindra up by 1.52% and SBI up by 1.35%. On the flip side, Hindalco down by 5.57%, Tata Steel down by 4.40%, Coal India down by 3.66%, ONGC down by 2.28% and ICICI Bank down by 1.76% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 surged 73.4 points or 0.14% to 53,449.00, KOSPI increased 3.11 points or 0.06% to 5,224.36 and Jakarta Composite gained 71.99 points or 0.87% to 8,304.19, while Taiwan Weighted lost 472.52 points or 1.47% to 32,063.75, Hang Seng declined 589.09 points or 2.15% to 27,379.00, Straits Times fell 19.48 points or 0.4% to 4,910.55 and Shanghai Composite weakened 40.03 points or 0.97% to 4,117.95.

European equity markets were trading higher; UK’s FTSE 100 increased 18.74 points or 0.18% to 10,190.50, France’s CAC rose 31.94 points or 0.4% to 8,103.30 and Germany’s DAX gained 253.04 points or 1.04% to 24,562.50.
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