Stock market today: The Indian stock market is expected to open flat to mildly positive today, with sustained optimism around the India–EU Free Trade Agreement (FTA) likely to support the positive momentum witnessed over the past two trading sessions. With tariffs eliminated on 90–96% of traded goods, the FTA is structurally positive for India’s export-led sectors such as textiles, apparel, leather, gems & jewellery, marine products, tea, coffee, chemicals, and MSMEs, while also aiding technology inflows, services mobility, and long-term competitiveness.
That said, near-term market upside may remain capped by persistent FII outflows, pre-Budget positioning, and mixed global cues, including heightened geopolitical tensions in the Middle East.
Economic Survey 2026
Attention today is firmly on the Economic Survey 2025–26 at 11:00 AM, which will guide expectations for the Union Budget on February 1, especially around capex (~Rs12 lakh crore for FY27), fiscal discipline, and policy support for infrastructure, defence, and manufacturing. Cooling India VIX, stable domestic macros, and banking sector strength offer downside support, keeping trade largely range-bound with selective stock-specific action.
US Fed meeting outcome
The US Federal Reserve, led by chair Jerome Powell, announced the outcome of its two-day US Fed meeting on Wednesday, 28 January 2026, during which the central bank kept the interest rate steady in the range of 3.5% to 3.75%.
“In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 per cent,” FOMC said.
Gold, silver rates today
Following the weak US Dollar (USD) and steady US Fed rates, both gold and silver rates today witnessed strong buying in the early morning session. The COMEX silver rate today opened with an upside gap and touched an intraday high of $119.450/oz, which is a new peak for the precious metal.
Likewise, the COMEX gold rate today opened with a strong gap-up during the early morning session. The COMEX gold futures contract for April 26, 2026, expiry is currently up over 3.50% at $5,530/oz.
USD vs INR
Speaking on the outlook of the US Dollar (USD) against the Indian National Rupee (INR), Jateen Trivedi, VP Research Analyst — Commodity & Currency at LKP Securities, said, “The Indian Rupee found support also due to the secondary market showing strong positive momentum, largely driven by Pre-Budget positioning. The Nifty PSE and the Nifty CPSE indices are seeing significant gains. This surge is attributed to higher fund flows into state-owned enterprises as investors anticipate policy support in the upcoming Union Budget.”
Stock market today
Speaking on the outlook of the Nifty 50/ Sensex today, Shrikant Chouhan, Head – Equity Research at Kotak Securities, said, “For day traders, 25,200/82,000 would act as a key support zone. Above 25,200/82,000, the pullback rally could continue till 25,500/82,800. Further upside may also continue, potentially lifting the index to 25,575/83,000. On the flip side, below 25,200/82,000, sentiment could change. If the index falls below this level, traders may prefer to exit their long positions.”
On the outlook of the Bank Nifty today, Rupak De, Senior Technical Analyst at LKP Securities, said, “The Bank Nifty has formed an interesting chart setup, as it moved above the 50 EMA after spending a good four days below it. Prior to this, the index formed a piercing line pattern on the daily timeframe. The RSI was seen making lower lows along the falling trendline without piercing it, and has recently entered a positive crossover. On the hourly chart, the index has reclaimed the 200 DMA, suggesting waning bearishness. Immediate resistance is placed at 59,700; a decisive move above this level could further improve sentiment in the banking space. Supports are placed at 59,400 and 59,000.”
Stocks to buy today
Regarding stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: Canara Bank, Jindal Steel, Paytm, Hindustan Petroleum, UPL, HBL Engineering, Rashtriya Chemicals and Fertilizers, and BHEL.
Sumeet Bagadia’s stock recommendations
1] Canara Bank: Buy at ₹157.70, Target ₹168.40, Stop Loss ₹152.
The stock has consistently formed higher highs and higher lows, reflecting sustained bullish momentum. With robust volumes, highlighting renewed participation and strong entry of fresh buyers, which have fuelled the ongoing momentum. The stock is well positioned above its 20-, 50-, 100-, and 200-day EMAs, all trending upward, which confirms sustained strength across multiple timeframes and reflects solid underlying demand.
2] Jindal Steel: Buy at ₹1120, Target ₹1200, Stop Loss ₹1080.
The stock is in a strong bullish trend, with price action showing a clear shift from consolidation to a sharp upward move. After spending time in a sideways range, the stock has formed a rounding base and broken out to the upside, recently reaching its all-time high of ₹1122, indicating steady accumulation followed by renewed buying interest.
Ganesh Dongre’s buy or sell stocks
3] Paytm: Buy at ₹1177, Target ₹1220, Stop Loss ₹1145.
The has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹1177 and has established a solid support base at ₹1145. This level has historically acted as a cushion, and recent price action suggests a reversal from it, reinforcing bullish sentiment.
4] Hindustan Petroleum: Buy at ₹433, Target ₹450, Stop Loss ₹420.
The stock has exhibited a strong, notable, and continuous bullish pattern, offering another promising opportunity for short-term traders.
5] UPL: Buy at ₹712, Target ₹740, Stop Loss ₹680.
With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹680 is a prudent way to capture the anticipated upside.
Shiju Koothupalakkal’s intraday stocks for today
6] HBL Engineering: Buy at ₹734, Target ₹785, Stop Loss ₹714.
The stock has witnessed a decent correction, with good consolidation visible near the ₹700 to ₹725 zone. Currently, with significant revival, volume participation has improved the bias to anticipate a further rise in the coming sessions. The RSI has indicated a positive trend reversal from the oversold zone, signalling a buy, and, with the chart technically looking good, can expect further gains.
7] Rashtriya Chemicals and Fertilizers: Buy at ₹135, Target ₹145, Stop Loss ₹132.
The stock, after a decent correction, has found support near the ₹126 zone and is indicating a significant revival with a positive candle formation on the daily chart, improving the bias and anticipating a further rise in the coming days.
8] BHEL: Buy at ₹259.65, Target ₹280, Stop Loss ₹252.
The stock, after a good correction, has arrived near the base of the ascending channel pattern on the daily chart, taking support near the ₹242 zone, and has currently indicated a strong revival with a bullish candle formation, improving the bias to anticipate a further rise in the coming sessions.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.