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Nifty trades below 25,300 level; metal shares under pressure

30-Jan-26   10:40 Hrs IST
Frontline equity benchmarks trimmed some losses and traded with modest declines in morning trade, tracking weak global cues, as investors remained cautious ahead of the Union Budget 2026, scheduled to be presented on February 1. Market participants are closely monitoring the rupee's movement, ongoing Q3 corporate earnings, and evolving geopolitical developments for fresh direction.

Investor focus is also on quarterly results due later today from key companies such as Bajaj Auto, NTPC, Power Grid Corporation of India, Nestl' India, and Ambuja Cements. Reflecting the subdued sentiment, the Nifty slipped below the 25,300 level during morning trade.

Metal shares dropped after advancing in the past three consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex dropped 380.57 points or 0.45% to 82,185.80. The Nifty 50 index fell 126 points or 0.50% to 25,292.90.

In the broader market, the S&P BSE Mid-Cap index is flat and the S&P BSE Small-Cap index fell 0.20%.

The market breadth was positive. On the BSE, 2,012 shares rose and 1,667 shares fell. A total of 189 shares were unchanged.

Result Today:

Bajaj Auto (down 0.61%), NTPC (down 0.53%), Power Grid Corporation of India (down 0.06%), Nestle India (up 1.43%), Bank of Baroda (up 0.03%), Meesho (up 2.05%), Ajanta Pharma (up 2.53%), Ambuja Cements (down 0.76%), Ashoka Buildcon (up 1.07%), Aster DM Healthcare (up 0.68%), Antony Waste Handling Cell (up 6.08%), Brigade Enterprises (up 1.10%), Cholamandalam Investment and Finance Company (up 0.65%), Exide Industries (up 0.70%), Glenmark Pharmaceuticals (down 0.61%), Jindal Steel (down 2.85%), KEC International (up 2.69%), Dr Lal PathLabs (up 0.32%), LIC Housing Finance (up 0.91%), National Aluminium Company (down 7.69%), New India Assurance Company (up 1.33%), Steel Authority of India (down 4.26%) and Welspun Corp (up 1.61%) will announce their quarterly earnings today.

Buzzing Index:

The Nifty Metal index dropped 4.18% to 11,955.90. The index rallied 8.71% in the past three consecutive trading sessions.

Stocks in Spotlight:

Hindustan Aeronautics (HAL) rose 0.35%. The company said that it has secured a domestic contract from Pawan Hans for the supply of 10 Dhruv NG helicopters, along with associated spares and accessories.

Colgate-Palmolive (India) shed 0.90%. The company reported a marginal 0.3% increase in standalone net profit to Rs 323.9 crore, while revenue from operations rose 1.4% to Rs 1,472.9 crore in Q3 FY26 over Q3 FY25.

Dabur India rose 1.52% after the company reported a 7.3% increase in consolidated net profit to Rs 553.61 crore on a 6.1% rise in revenue from operations to Rs 3,558.65 crore in Q3 FY26 over Q3 FY25.

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