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Informist, Friday, Jan. 30, 2026

By Eshitva Prakash

MUMBAI – The equity market will be open for trading Sunday on account of the Union Budget for 2026-27 (Apr-Mar), with Finance Minister Nirmala Sitharaman scheduled to speak in the Lok Sabha at 1100 IST. Analysts expect benchmark indices to be volatile Sunday as Sitharaman is likely to announce policies across sectors. While the government is expected to continue with the curret fiscal consolidation target, investors are likely to look for any positive surprise. 

The market may also focus on the views of the new US Federal Reserve Chair appointee Kevin Warsh on interest rates. US President Donald Trump nominated Warsh to serve as the next chair of the board of governors of the US Federal Reserve. During his time as a a policymaker for the US Fed, Warsh was known for favouring higher interest rates to keep a check on inflation, NDTV reported. In recent weeks, however, the new appointee has criticised the current US Fed and its members and called for "regime change", the report said.

Analysts are unanimous in expecting the Budget to have limited room for expenditure. "The government is likely to balance gradual consolidation with continued emphasis on capital expenditure, manufacturing incentives, and ease of doing business, while containing revenue expenditure," Anand Rathi Share and Stock Brokers said. The brokerage expects the FY27 fiscal deficit at around 4.2% of GDP, which will be consistent with the path required to achieve the central government's debt-to-GDP ratio of around 50% by FY31.

However, analysts also said there are possibilities of some surprises, particularly in capital expenditure, relating to sectors such as defence and public transport. "The Centre may target sunrise sectors such as semiconductors, EVs (electronic vehicles), renewables (energy) and green mobility, defence, aerospace, deep-tech, and artificial intelligence," Emkay Global Financial Services said in a report. Moreover, to boost front-loaded manufacturing capital expenditure, the government may reintroduce lower corporate tax on dividends for plants and machinery in high-growth sectors, the brokerage said.

Additionally, brokerages expect funding support for labour-intensive exports amid possiblity of a delay in trade negotiations between India and the US. This support could come in the form of expanded micro, small, and medium enterprise definitions, easier financial conditions for micro units development and refinance agency loans, credit guarantees, and enhanced allocation to the export promotion mission, brokerages said. Elara Securities expects a growth of 9.5-10% in capital expenditure in FY27.

Until the Budget presentation, investors could react to earnings released after market hours Friday. NTPC reported a net profit of INR 49.87 billion, slightly above the Street's view. Lower fuel costs helped the company's bottom line rise nearly 6% for the quarter. Bajaj Auto's net profit and revenue hit quarterly record highs in the December quarter and grew in double digits year-on-year, but missed consensus estimates. The company's net profit for the period was INR 25.03 billion, up 19% on year. The company's revenue from operations for the December quarter grew 19% on year to INR 152.20 billion. 

The Securities and Exchange Board of India has given a no-objection certificate for the initial public offering of the National Stock Exchange, confirmed NSE Chairperson Srinivas Injeti in a statement. NSE is said to be planning to file its draft listing papers by the end of March and is in discussions with investment bankers and law firms to finalise the prospectus and assess investor appetite, Reuters had reported two weeks back, quoting sources. 

Investors await monthly sales data from various carmakers, which is expected Sunday. On Friday, the Nifty 50 and the Sensex ended 0.4% lower each at 25320.65 and 82269.78 points, respectively. The key resistence for the Nifty 50 is seen at 25500 points, while support is seen near 25200 points, according to technical analysts.   End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Tanima Banerjee

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