INDICES SNAP THREE-SESSION SLIDE ON GLOBAL RISK-ON MOOD

Domestic equities rebounded on Thursday after three consecutive sessions of losses, snapping the recent decline and restoring some investor confidence.

The BSE Sensex and the Nifty 50 rose sharply in early trade, tracking a positive global market trend that lifted risk appetite. The Sensex jumped more than 800 points at the day�s high, while the Nifty 50 moved back above the 25,400 level, before trimming part of the gains later in the session. PSU banks and chemical shares advanced while consumer durables and realty shares were under pressure.

Market sentiment improved amid a broader rebound in global equities. Comments from Russian President Vladimir Putin helped ease geopolitical concerns, while remarks from former US President Donald Trump raised hopes of progress on a potential US-India trade agreement. Optimism around a possible European Union trade deal also supported risk-taking.

The S&P BSE Sensex jumped 397.74 points or 0.49% to 82,307.37. The Nifty 50 index rose 132.40 points or 0.53% to 25,289.90. In the previous three sessions, the Sensex slipped 1.99% while the Nifty declined 2.09%.

Bharat Electronics (up 3.75%), Adani Ports & SEZ (up 2.57%) and State Bank of India (up 1.95%) boosted the Nifty today.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.28%, while the S&P BSE Small-Cap index added 1.13%.

The market breadth was strong. On the BSE, 2,951 shares rose and 1,280 shares fell. A total of 161 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, declined 3.12% to 13.35.

World Economic Forum:

Maharashtra Chief Minister Devendra Fadnavis said Tata Sons has committed $11 billion to develop the proposed innovation city. While the location has been identified and broad contours finalized, the state expects the planning phase to take another six to eight months before execution begins.

The project aims to create a "plug-and-play" ecosystem tailored for startups and innovation-led companies, lowering entry barriers for entrepreneurs as well as global firms.

Britain will not sign US President Donald Trump�s proposed Board of Peace treaty on Thursday, Foreign Secretary Yvette Cooper said, citing concerns over Russia�s potential involvement in the initiative aimed at resolving global conflicts. She said the UK would not be among the signatories, as the legal treaty raises broader issues and because of concerns over President Vladimir Putin�s role in a peace initiative.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper was down 0.24% to 6.639 as compared with the previous close of 6.655.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 91.6000 compared with its close of 90.6500 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement dropped 0.91% to Rs 1,51,469.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.01% to 98.57.

The United States 10-year bond yield declined 0.26% to 4.240.

In the commodities market, Brent crude for March 2025 settlement lost 71 cents or 1.09% to $64.53 a barrel.

Global Markets:

The US Dow Jones index futures is currently up by 194 points, signaling a strong opening for US stocks today.

European indices advanced on Thursday after U.S. President Donald Trump said a �framework� agreement had been reached over Greenland, and called off imposing escalating tariffs on a group of European countries.

Asian indices ended higher, tracking overnight gains on Wall Street after U.S. President Donald Trump dialed back his threat to impose tariffs on European countries over Greenland.

Trump also said at the World Economic Forum in Davos that he would not use force to acquire the Arctic island, calming nerves over a possible U.S. military action, adding that he had �formed the framework of a future deal with respect to Greenland,� along with NATO Secretary General Mark Rutte.

Meanwhile, South Korea�s economy unexpectedly shrank 0.3% on a quarterly basis in the October to December period, its sharpest contraction since 2022. Gross domestic product grew 1.5% year on year, while full-year economic growth slowed to 1%, the weakest since 2020, when output contracted 0.7% during the pandemic.

U.S. equities leaped on Wednesday after President Donald Trump called off new Europe tariffs, saying a deal framework has been reached over Greenland. Meanwhile, Russian President Vladimir Putin said he is not concerned about the issue. "What happens to Greenland is none of our business," Putin said in his televised remarks at the national Security Council meeting late on Wednesday night.

The Dow Jones Industrial Average surged 588.64 points, or 1.21%, to end at 49,007.23. The S&P 500 gained 1.16% and closed at 6,875.62, while the Nasdaq Composite advanced 1.18% to settle at 23,224.82.

Back in Washington, Supreme Court justices expressed skepticism about whether Trump has the authority to fire Lisa Cook as a Federal Reserve governor.

During oral arguments Wednesday, Justice Brett Kavanaugh told a Trump administration lawyer that arguments the president can fire Cook without judicial review �would weaken, if not shatter, the independence of the Federal Reserve."

Stocks in Spotlight:

Bajaj Consumer Care was locked in a 20% upper circuit after the company�s net profit rose 83.2% YoY to Rs 46.4 crore in Q3 FY26 from Rs 25.3 crore in Q3 FY25. Revenue from operations increased 32.7% YoY to Rs 306.1 crore in Q3 FY26 from Rs 230.7 crore in Q3 FY25.

V-Mart Retail rallied 3.21% after the company reported a standalone net profit of Rs 87.99 crore in Q3 FY26, up 22.83% from Rs 71.63 crore posted in Q3 FY25. Revenue from operations rose 9.70% year on year (YoY) to Rs 1,126.38 crore in the quarter ended 31 December 2025.

Eternal fell 2.61%. The company reported a 72.88% rise in consolidated net profit to Rs 102 crore on a 201.85% surge in revenue from operations to Rs 16,315 crore in Q3 FY26 over Q3 FY25.

Dr Reddy�s Laboratories rose 5.34%. The company reported a 14.4% decline in consolidated net profit to Rs 1209.8 crore despite a 4.4% jump in revenue to Rs 8,716.8 crore in Q3 FY26 over Q3 FY25.

Anant Raj added 2.66% after the company reported a 30.75% year-on-year (YoY) increase in consolidated net profit to Rs 144.25 crore in Q3 FY26, compared with Rs 110.32 crore recorded in the same quarter last year.

Radico Khaitan jumped 5.69% after the company reported 61.6% increase in net profit to Rs 155.1 crore on a 19.5% rise in net revenue from operations to Rs 1,546.7 crore in Q3 FY26 as compared with Q3 FY25.

Bank of India rallied 5.62% after the bank�s standalone net profit jumped 7.47% to Rs 2,705 crore in Q3 FY26 as against Rs 2,517 crore in Q3 FY25. Total income stood at Rs 21,205.95 crore in Q3 FY26, up 6.25% as against Rs 19,956.9 crore in Q3 FY25.

Gravita India declined 2.42%. The company�s consolidated net profit jumped 25.33% to Rs 97.67 crore on 2.07% increase in revenue from operations to Rs 1,017.07 crore in Q3 FY26 over Q3 FY25.

Zee Entertainment Enterprises added 3.86% after the company�s net profit surged 102.99% to Rs 155.29 crore in Q3 FY26 as against Rs 76.5 crore in Q2 FY26. Total income rallied 15.17% to Rs 2,298.5 crore in Q3 FY26 over Q2 FY26.

Waaree Energies surged 9.29% after the company reported a 115.64% year-on-year (YoY) jump in consolidated net profit to Rs 1,062.46 crore in Q3 FY26, compared with Rs 492.69 crore recorded in the same quarter last year.

Indian Bank rallied 5.66% after the bank�s standalone net profit jumped 7.33% to Rs 3,061.48 crore on 9.78% increase in total income to Rs 19,663.34 crore in Q3 FY26 over Q3 FY25.

IPO Update:

The initial public offer (IPO) of Shadowfax Technologies received bids for 24,18,75,720 shares as against 8,90,88,807 shares on offer, according to stock exchange data at 16:40 IST on Thursday (22 January 2026). The issue was subscribed 2.71 times.

The issue opened for bidding on Tuesday (20 January 2026) and it will close on Thursday (22 January 2026). The price band of the IPO is fixed between Rs 118 and 124 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.

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