Weekly Update- 30 January 2026

NIFTY50

Nifty closed the week at 25,321, gaining 272 points (+1.09%). The week began with an initial downmove amid sector-specific selling, but sentiment improved sharply thereafter, leading to a strong recovery from lower levels. The rebound was supported by broad participation from key sectors such as CPSE and defence, driven by positioning ahead of Budget 2026. Toward the end of the week, the index moved into a sideways consolidation phase on the last trading day, indicating a pause after the recovery. Going forward, key support is placed around 25,000, while resistance is seen near 25,700.

BANKNIFTY

Bank Nifty ended the week at 59,610, gaining 1,137 points (+1.95%) and clearly outperforming Nifty. After an initial downmove at the start of the week, the index witnessed a strong recovery from lower levels, reflecting renewed buying interest and improved sentiment in the banking space. The upmove was primarily led by PSU banks, which remained in focus throughout the week on the back of continued strength and positioning. Toward the end of the week, private banks also contributed to the rally, showing improving momentum on the last trading day. Overall, the price action suggests strengthening structure at lower levels. Going forward, key support is placed around 58,800, while resistance is seen near 60,200, keeping the outlook constructive.

TOP GAINING SECTOR

NIFTY CPSE was top gainer sector for the week

Major gainers were:-

OIL INDIA:- up by 17.06%

ONGC:- up by 9.57%

PFC:- up by 5.77%

COAL INDIA:- up by 5.34%

IMPORTANT NEWS

• Income Tax Union Budget 2026 Expectation Live: What can India’s middle class expect from FM Nirmala Sitharaman in the Union Budget? From income tax slab changes to standard deduction hike, here’s what to watch out for. Budget 2026 will be presented on Sunday, February 1.

• Bajaj Auto Q3 Results: Two-wheeler major Bajaj Auto on Friday reported 19% year-on-year (YoY) growth in its consolidated net profit at Rs 2,503 crore. Revenue from operations to rose 19% YoY to 15,220 crore, driven by record quarterly volumes and a richer mix.

• Meesho reported a 13-fold jump in Q3 losses to Rs 491 crore after its December listing, even as revenue rose 32% year-on-year, driven by aggressive user acquisition, higher advertising spends and continued investments to fuel long-term growth.

• The Securities and Exchange Board of India, SEBI, is simplifying investment processes. A Letter of Confirmation for credit of securities will no longer be required. Instead, securities will be directly credited to investors' demat accounts. This change aims to speed up the process significantly. The new system will be effective from April 2, 2026.

• SAIL reported a sharp rise in December-quarter profit to Rs 374 crore, driven by higher volumes, operating leverage and disciplined cost control, despite volatile input costs and competitive pricing, while total income also rose strongly year-on-year.