Stock market today: Sensex jumps 550 pts, Nifty above 25,350; Axis Bank shares gain 4%
On the technical front, Shah said the 50-pack index remains locked in a volatile and narrow range. He noted that the 25,300–25,400 zone is an immediate resistance band.
- Jan 28, 2026,
- Updated Jan 28, 2026 9:27 AM IST
Domestic equity benchmarks Sensex and Nifty opened higher on Wednesday, extending Tuesday’s gain after optimism over the India-EU trade deal amid mixed cues from global markets.
At 9:17 am, the BSE Sensex jumped 430.38 points, or 0.53%, to 82,287.86 after gaining nearly 550.38 points in early trade. The NSE Nifty advanced 145.60 points, or 0.58%, to 25,321, after briefly touching a high of 25,355.30.
Overall sentiment remains delicate, weighed down by sustained foreign fund outflows, rising volatility ahead of the Union Budget, and mixed global cues. While intermittent relief rallies are possible, traders are expected to stay selective and maintain a guarded stance, said Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited.
Among Sensex constituents, Axis Bank gained 3.83% to Rs 1364.80. Trent rose 1.27%, while ITC, Bajaj Finserv and Power Grid advanced 1.08%, 1.05% and 1.04%, respectively.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said daily charts show a long bullish candle, while intraday charts signal a positive reversal pattern. According to him, 25,000 on the Nifty and 81,400 on the Sensex, along with the lower band of 24,900 and 81,000, are key support zones to watch.
“As long as the market trades above these levels, the pullback formation is likely to continue,” Chouhan said.
Asian markets traded mixed. At last check, Japan’s Nikkei 225 was down 0.57% to 53,029.97, while South Korea’s Kospi rose 1.02% at 5,136.93. Hong Kong’s Hang Seng Index gained 2.38% to 27,773.77.
Wall Street ended mixed overnight, with two of the three major indices closed in the green. The S&P 500 advanced 0.41% to close at 6,978.60, while the Dow Jones Industrial Average slipped 0.83% to 49,003.41. The Nasdaq Composite rose 0.91% to settle at 23,817.10.
Meanwhile, on Tuesday, the Sensex gained 319.78 points, or 0.39%, to end at 81,857.48, while the Nifty climbed 126.75 points, or 0.51%, to settle at 25,175.40.
On the technical front, Shah said the 50-pack index remains locked in a volatile and narrow range. He noted that the 25,300–25,400 zone is an immediate resistance band, adding that sustained strength above this level is necessary to trigger meaningful short-covering.
“On the downside, 25,000 remains a critical psychological support, followed by 24,800. A decisive breakdown below this support could renew selling pressure and extend the corrective phase. Momentum indicators remain subdued, though oversold conditions in pockets may lead to brief, stock-specific pullbacks,” Shah said. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said the highly volatile market session yesterday reflected the tug of war between the FIIs and DIIs. He said FIIs continued their selling spree with cash market selling of Rs 3068 crores. DIIs, flush with funds, aggressively bought beaten down fundamentally strong stocks for a massive Rs 8999 crores.
Domestic equity benchmarks Sensex and Nifty opened higher on Wednesday, extending Tuesday’s gain after optimism over the India-EU trade deal amid mixed cues from global markets.
At 9:17 am, the BSE Sensex jumped 430.38 points, or 0.53%, to 82,287.86 after gaining nearly 550.38 points in early trade. The NSE Nifty advanced 145.60 points, or 0.58%, to 25,321, after briefly touching a high of 25,355.30.
Overall sentiment remains delicate, weighed down by sustained foreign fund outflows, rising volatility ahead of the Union Budget, and mixed global cues. While intermittent relief rallies are possible, traders are expected to stay selective and maintain a guarded stance, said Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited.
Among Sensex constituents, Axis Bank gained 3.83% to Rs 1364.80. Trent rose 1.27%, while ITC, Bajaj Finserv and Power Grid advanced 1.08%, 1.05% and 1.04%, respectively.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said daily charts show a long bullish candle, while intraday charts signal a positive reversal pattern. According to him, 25,000 on the Nifty and 81,400 on the Sensex, along with the lower band of 24,900 and 81,000, are key support zones to watch.
“As long as the market trades above these levels, the pullback formation is likely to continue,” Chouhan said.
Asian markets traded mixed. At last check, Japan’s Nikkei 225 was down 0.57% to 53,029.97, while South Korea’s Kospi rose 1.02% at 5,136.93. Hong Kong’s Hang Seng Index gained 2.38% to 27,773.77.
Wall Street ended mixed overnight, with two of the three major indices closed in the green. The S&P 500 advanced 0.41% to close at 6,978.60, while the Dow Jones Industrial Average slipped 0.83% to 49,003.41. The Nasdaq Composite rose 0.91% to settle at 23,817.10.
Meanwhile, on Tuesday, the Sensex gained 319.78 points, or 0.39%, to end at 81,857.48, while the Nifty climbed 126.75 points, or 0.51%, to settle at 25,175.40.
On the technical front, Shah said the 50-pack index remains locked in a volatile and narrow range. He noted that the 25,300–25,400 zone is an immediate resistance band, adding that sustained strength above this level is necessary to trigger meaningful short-covering.
“On the downside, 25,000 remains a critical psychological support, followed by 24,800. A decisive breakdown below this support could renew selling pressure and extend the corrective phase. Momentum indicators remain subdued, though oversold conditions in pockets may lead to brief, stock-specific pullbacks,” Shah said. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said the highly volatile market session yesterday reflected the tug of war between the FIIs and DIIs. He said FIIs continued their selling spree with cash market selling of Rs 3068 crores. DIIs, flush with funds, aggressively bought beaten down fundamentally strong stocks for a massive Rs 8999 crores.