29 January 2026 (Opening): Market Update: Nifty Slips Below 25,250 as Metals, Energy Stocks Shine; FMCG and Consumer Names Drag

Indian equity benchmarks traded in the red on 29 January 2026 morning, with the Nifty 50 slipping nearly half a percent amid mixed sectoral cues. While heavyweight FMCG and consumer stocks weighed on the index, strong buying in select metal and energy counters provided some support. Market breadth reflected a tug-of-war between defensives and cyclicals as investors assessed earnings momentum and near-term valuations.

Also Read: 28 January 2026: Market Close: Nifty 50 Ends Strong at 25,343; BEL, ONGC Lead Rally While FMCG and Auto Drag

Benchmark Performance

As of 10:56 AM IST, 29 January 2026, the Nifty 50 stood at 25,220.10, down 122.65 points (-0.48%).

• Open: 25,345.00

• Day’s High: 25,359.35

• Day’s Low: 25,159.80

Other key indices also reflected cautious sentiment:

• Nifty Next 50: 67,884.70 (-0.47%)

• Nifty Financial Services: 27,296.60 (-0.14%)

• Nifty Bank: 59,619.95 (+0.04%), showing marginal resilience compared to broader markets

Top Gainers: Metals and Energy Lead the Rally

Cyclical stocks dominated the gainers’ list, suggesting selective risk appetite in commodity-linked sectors:

• Larsen & Toubro (LT): ₹3,912.50, up 3.12%

• NTPC: ₹357.00, up 2.57%

• Hindalco Industries: ₹1,021.20, up 2.30%

• ONGC: ₹273.50, up 1.83%

• Tata Steel: ₹197.04, up 1.65%

Strong volumes in counters such as ONGC and Tata Steel indicate active participation from traders, possibly driven by expectations of firm commodity prices and continued infrastructure push.

Top Losers: FMCG and Consumer Discretionary Under Pressure

On the flip side, heavy selling was seen in select large-cap consumer names:

• Asian Paints: ₹2,431.50, down 3.20%

• IndiGo (InterGlobe Aviation): ₹4,599.00, down 3.16%

• Titan Company: ₹3,853.50, down 3.06%

• Mahindra & Mahindra: ₹3,345.10, down 3.02%

• Hindustan Unilever: ₹2,317.00, down 2.58%

Weakness in FMCG majors like HUL and Asian Paints suggests investor caution around high valuations and margin pressures, while declines in Titan and M&M reflect profit-booking after recent rallies.

Sectoral Trend and Market Mood

The session so far points to a rotation-driven market, where investors are selectively accumulating industrials, metals, and energy stocks while trimming exposure to expensive consumption plays. Banking stocks remain relatively stable, preventing a sharper fall in the headline indices.

Conclusion: 29 January 2026

Overall, the market tone remains cautious but not decisively bearish. With the Nifty hovering near key support zones around 25,150–25,200, the next directional move will likely depend on upcoming earnings announcements and global cues. Until then, traders may continue to witness sector-specific action rather than a broad-based rally.