Did the Sensex and Nifty Rise Due to the India–EU FTA?
Synopsis
On January 28, the Indian stock market saw the Sensex and Nifty end on a positive note, buoyed by the India–EU FTA and December quarter earnings. Despite volatility, optimism prevailed as key sectors outperformed.
Key Takeaways
The Sensex closed at 82,345, up 487 points.
The Nifty ended at 25,343, gaining 167 points.
Public sector undertakings led the market rally.
Broader markets outperformed benchmark indices.
Profit booking was noted in FMCG stocks.
Mumbai, Jan 28 (NationPress) The Indian equity benchmark indices, Sensex and Nifty, concluded Wednesday's trading session with moderate gains, successfully remaining in the positive territory despite experiencing significant fluctuations throughout the day.
Market sentiment was buoyed by earnings reports from the December quarter and the finalization of the India–European Union Free Trade Agreement.
The Sensex finished at 82,345, marking an increase of 487 points, or 0.60 percent. Throughout the session, the index oscillated between a peak of 82,504 and a trough of 81,815, reflecting a day of volatility.
Similarly, the Nifty also reported a favorable close, concluding at 25,343, up 167 points, or 0.66 percent.
The index reached an intra-day high of 25,372 and dipped to a low of 25,188 before recovering as the day progressed.
“Despite the index continuing to trade below its short-term moving averages—indicating caution in the near term—immediate resistance is anticipated at 25,400–25,450, followed by a robust supply zone at 25,600–25,650, aligned with the 20/50-EMA cluster,” noted an analyst.
Shares of Bharat Electronics Limited jumped by 9 percent, becoming the top performer on both the Sensex and Nifty.
Additional stocks that contributed positively to the market included ONGC, Coal India, Hindalco, Bajaj Finance, Power Grid, Adani Enterprises, Trent, Mahindra & Mahindra, Cipla, and Shriram Finance.
Conversely, Tata Consumer Products experienced a decline of 4.5 percent. Other stocks such as Asian Paints, Maruti Suzuki, Sun Pharma, Max Healthcare, Dr Reddy’s Laboratories, Infosys, and Eicher Motors also faced losses of up to 4.2 percent.
The broader markets continued to outperform the benchmark indices, with the Nifty Midcap 100 index rising by 1.66 percent, while the Nifty Smallcap 100 gained an impressive 2.26 percent.
On a sectoral basis, public sector undertakings led the surge, with the Nifty CPSE index soaring by 5 percent, while the Nifty Oil and Gas index rose by 3.4 percent.
The Nifty Metal index increased by 2.3 percent, and the Nifty PSU Bank index climbed by 1.7 percent, contributing to the market's positive close.
“Domestic markets exhibited ongoing optimism, supported by the India–EU FTA,” remarked an expert.
“Broader indices excelled, propelled by strength in Metals, Financials, and Oil & Gas, while FMCG stocks witnessed profit-booking amid investors shifting towards cyclical sectors,” an analyst concluded.
Point of View
The recent gains in the Sensex and Nifty highlight the resilience of the Indian market amidst global fluctuations. The finalized India–EU FTA provides a positive outlook, indicating potential growth and opportunities for various sectors. However, caution remains as volatility persists. NationPress will continue to monitor these developments closely.
NationPress
8 Jul 2026
Frequently Asked Questions
What influenced the rise of Sensex and Nifty?
The rise was influenced by the finalization of the India–EU Free Trade Agreement and earnings announcements for the December quarter.
Which stocks performed well?
Top performers included Bharat Electronics Limited , ONGC , and Coal India .
What sectors led the market rally?
The market rally was led by public sector undertakings, Metals , Financials , and Oil & Gas sectors.
Was there any profit booking in the market?
Yes, profit booking was observed in the FMCG sector.
What is the market outlook?
The market outlook remains optimistic due to the India–EU FTA , but caution is advised due to ongoing volatility.
