Markets ended higher on Thursday after a volatile session, with the Sensex closing at 82,566.37, up 221.69 points or 0.27 per cent, while the Nifty rose 76.15 points or 0.30 per cent to settle at 25,418.90. The recovery was led by a sharp rally in metal stocks, even as the rupee breached the 92-mark against the dollar for the first time.
The Nifty Metal index surged over 3 per cent, driving the benchmark indices higher. Tata Steel emerged as the top gainer on the Nifty 50, jumping 4.49 per cent to close at ₹202.55, followed by Larsen & Toubro, which climbed 3.80 per cent to ₹3,938. Axis Bank gained 3.42 per cent at ₹1,364.90, while TMPV and NTPC advanced 3.39 per cent and 3.00 per cent to ₹352 and ₹358.50, respectively.
However, the session witnessed pressure on select stocks. Asian Paints led the decliners, plunging 3.85 per cent to ₹2,415, followed by IndiGo, which fell 2.71 per cent to ₹4,620.50. SBI Life dropped 2.69 per cent to ₹1,998, Maruti Suzuki declined 2.64 per cent to ₹14,484 and Tata Consumer Products slipped 2.54 per cent to ₹1,103.10.
Winning streak
“The Nifty 50 extended its winning streak to a third session, adding 76 points to settle at 25,418 in a highly volatile session. First 45 minutes saw bears in total control, dragging the Nifty down 200 points immediately after the opening. Post 10.00 am, Nifty found support on its 200 DEMA (25160) and changed its direction with a recovery of almost 300 points from the day’s low,” said Nandish Shah, Deputy Vice-President, HDFC Securities.
Market breadth remained weak despite the headline gains, with 2,533 stocks declining against 1,706 advancing on the BSE. Out of 4,389 stocks traded, 107 hit 52-week highs while 273 touched 52-week lows.
Mixed show
Sectoral performance was mixed, with Nifty Financial Services rising 0.64 per cent and Nifty Bank gaining 0.60 per cent. The Nifty Midcap 100 and Nifty Smallcap 100 both advanced 0.18 per cent and 0.20 per cent, respectively.
“Today, the benchmark indices continued their positive momentum. Among sectors, the Metal index outperformed today, rallying over 3 per cent, whereas intraday profit booking was seen in the Defence index, which shed 1 per cent,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Foreign institutional investors turned net buyers after 15 consecutive sessions of selling, while domestic institutional investors continued their support with inflows of ₹3,360 crore.
The rupee remained under pressure, falling 17 paise to close at 91.95 against the dollar. “The Indian rupee has touched a record low, breaking 92 level, pressured by persistent capital outflows and the rising price of imported commodities. Despite a softening greenback, central bank interventions and an improvement in risk sentiment, the rupee depreciated against a backdrop of deep-seated supply-demand imbalances of the dollar,” said Dilip Parmar, Research Analyst, HDFC Securities.
Brent crude oil prices have risen above $70 per barrel for the first time since September amid escalating geopolitical tensions.
Looking ahead, markets are expected to remain volatile in the run-up to the Union Budget on February 1. “For trend-following traders, now 25,300/82200 and 25,150/81700 would act as key support zones. On the higher side, 25,500/82800 would be the immediate hurdle for the bulls,” Chouhan added.
Published on January 29, 2026
