Quote on Evening Markets 28th January 2026 by Mr. Vikram Kasat, Head - Advisory, PL Capital
Please find appended below, Perspective on Markets by Mr. Vikram Kasat, Head - Advisory, PL Capital for your kind perusal.
Markets extend gains for second day; Nifty closes above 25,300, midcaps outperform
Indian equity benchmarks ended higher for a second consecutive session on Wednesday, closing near the day’s highs amid broad-based buying. Sentiment was supported by optimism around the India–EU trade agreement, strong earnings-led stock action, and a sharp rise in crude oil prices.
The BSE Sensex advanced 487 points to close at 82,345, while the Nifty 50 added 167 points to settle at 25,343, holding comfortably above the key 25,300 mark. The Bank Nifty also gained 393 points to end at 59,599.
Broader markets outperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 rising 1.6% and 1.9%, respectively. Market breadth remained firmly positive, with the NSE advance-decline ratio at 7:2, signalling wide participation beyond frontline stocks.
Sectorally, media, metals, energy, oil & gas, realty and PSU banks rose between 1–4%. In contrast, FMCG, consumer durables and pharmaceutical stocks ended lower.
Within the Nifty 50, Bharat Electronics, ONGC, Eternal, Coal India and Hindalco Industries were among the top gainers, while Tata Consumer Products, Asian Paints, Maruti Suzuki, Max Healthcare and Sun Pharma declined.
On the earnings front, Bharat Electronics Ltd emerged as one of the top gainer, surging nearly 9% to hit a record high following strong quarterly performance. Energy stocks also rallied sharply, with Oil & Natural Gas Corporation and Oil India gaining close to 10% each, tracking the sharp rise in crude oil prices.
Looking ahead, markets will closely watch the outcome of the upcoming US Federal Reserve meeting, along with key corporate earnings scheduled for the week ahead, as investors position cautiously in the run-up to the Union Budget.
