:::LALKAR GROUP::::

The benchmark equity indices began Sunday's session on a mixed footing in early trade, with the Sensex edging higher and the Nifty slipping marginally, as markets turned cautious ahead of the Union Budget 2026. The Nifty hovered around the 25,300 mark in early trade.

Investors are gearing up for the release of the Union Budget 2026-27 today. Apart from sectoral announcements, all eyes would be on the growth projections and the fiscal deficit numbers that would be laid out by the Central Government today.

Meanwhile, traders are also closely monitoring movements in the rupee, the flow of Q3 corporate earnings, and shifting geopolitical developments, all of which could influence near-term market sentiment.

Metal, PSU bank and IT shares leading the fall while auto, private bank and pharma stocks advanced.

At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 28.66 points or 0.03% to 82,298.44. The Nifty 50 index fell 18.25 points or 0.07% to 25,306.

In the broader market, the BSE 150 Mid-Cap index fell 0.77% and the BSE 250 Small-Cap index declined 0.72%.

The market breadth was positive. On the BSE, 1,566 shares rose and 1,442 shares fell. A total of 164 shares were unchanged.

Foreign portfolio investors (FPIs) had bought shares worth Rs 2,251.37 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 601.03 crore in the Indian equity market on 29 January 2026, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper remain unchanged at 6.695

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 91.9350 compared with its close of 91.9950 during the previous trading session.

MCX Gold futures for 5 February 2026 settlement tumbled 9% to Rs 1,36,185.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.74% to 96.99.

The United States 10-year bond yield advanced 0.33% to 4.241.

In the commodities market, Brent crude for March 2026 settlement advanced 23 cents or 0.33% to $69.82 a barrel.

Stocks in Spotlight:

Sun Pharmaceutical Industries rallied 3.13% after the company has reported a 16.03% rise in consolidated net profit to Rs 3,368.81 crore on a 13.49% increase in revenue to Rs 15,520.54 crore in Q3 FY26 over Q3 FY25.

Bajaj Auto added 1.65% after the company's standalone net profit increased 18.68% to Rs 2,502.81 crore on an 18.84% jump in revenue from operations to Rs 15,220.33 crore in Q3 FY26 over Q3 FY25.

AstraZeneca Pharma India shed 0.08%. The company said it has received approval from the CDSCO to import, sell, and distribute Durvalumab (Imfinzi) solution for infusion in 120 mg/2.4 mL and 500 mg/10 mL strengths.

Global Markets:

On Friday, stocks witnessed some profit taking, with technology shares remaining in a funk, even as investors largely approved of President Donald Trump's pick of Kevin Warsh to lead the Federal Reserve.

The S&P 500 fell 0.43% to finish at 6,939.03, its third straight down day. The Dow Jones Industrial Average pulled back 179 points, or 0.36%, to settle at 48,892.47. The tech-heavy Nasdaq Composite underperformed, dropping 0.94%, to end the day at 23,461.82. All three indexes fell more than 1% at session lows.

Spot gold and silver dropped around 9% and 28%, respectively. Over the past year, gold and silver futures have soared about 67% and 142%, respectively.

Warsh's selection was likely to ease concern about Fed independence because of his experience as a Fed governor and strong stance at times against inflation. While he is likely to push for lower rates in short term as Trump wants, the financial markets view him as someone who wouldn't always follow the president's direction and maintain credibility for monetary policy.