Indian stock markets opened on a strong note on January 29, with benchmark indices gaining momentum amid positive global cues. The Sensex surged 295.68 points, or 0.39 per cent, to 76,197.09, while the Nifty climbed 76.80 points, or 0.33 per cent, to 23,034.05. The broader market sentiment remained upbeat, with 1,392 stocks advancing, 802 declining, and 123 remaining unchanged.

In sectoral action, Nifty Auto led the charge with over a 1 per cent gain, buoyed by TVS Motor and Bajaj Auto, despite both companies reporting weaker-than-expected Q3 profits due to sluggish domestic sales. The Nifty IT index also surged by more than 1.5 per cent, driven by gains in Persistent Systems, LTTS, Infosys, and Coforge.

Among individual stocks, Bajaj Auto, Cipla, Infosys, Wipro, and Tech Mahindra were the top gainers on the Nifty, whereas BPCL, HDFC Life, JSW Steel, NTPC, and SBI Life Insurance lagged behind. On the Sensex, Infosys, Zomato, Tech Mahindra, Bajaj Finance, TCS, and ICICI Bank saw notable gains, while NTPC, Nestle India, HUL, Maruti, and Asian Paints opened lower.

Shares rallied over 4.5 per cent to hit an intraday high of Rs 8,775.40 after reporting a 3 per cent YoY increase in standalone net profit to Rs 2,109 crore for Q3FY25, with revenue from operations rising 6% to Rs 12,807 crore.

Shares hit a 5 per cent upper circuit at Rs 52.76 after reporting a 90 per cent YoY jump in net profit to Rs 387 crore for Q3FY25.

The stock gained over 4 per cent, reaching Rs 196.10 after the company’s Q3 PAT surged 123.5 per cent YoY to Rs 135 crore.

Shares slid 10 per cent, hitting the lower circuit at Rs 453.60, as Q3 PAT dropped 32 per cent YoY to Rs 157 crore.

As the earnings season progresses, key results to watch today include Bajaj Finance, Maruti, Tata Motors, Adani Power, and Ambuja Cements. Additionally, ITC Hotels is set to list on the stock exchanges following its demerger from ITC. Investors will closely monitor market trends, with global cues and macroeconomic data influencing sentiment in the coming sessions.