As of January 27, 2026, the stock market is navigating a heavy week of corporate earnings and significant geopolitical shifts, most notably a landmark trade agreement between India and the European Union.
India-EU Free Trade Agreement Announced
The “mother of all deals” was finalized today, covering nearly 25% of global GDP. Prime Minister Narendra Modi and EU leaders announced the pact, which will eliminate or reduce tariffs on 96.6% of EU goods exports to India by 2032. This has caused significant volatility:
Winners: Textile, shrimp, and chemical stocks surged up to 12% on expectations of better European market access.
Losers: Indian automakers like Mahindra & Mahindra, Maruti Suzuki, and Tata Motors fell up to 6% due to concerns over cheaper luxury car imports as duties are slashed.
Major Q3 Corporate Earnings
Nearly 60 companies are declaring results today, impacting several major sectors:
Axis Bank: Shares jumped over 5% after reporting a steady core operating performance.
Asian Paints: Shares fell 5% after net profit slipped 4.5% due to exceptional losses and lower-than-projected volume growth.
UltraTech Cement: Rose 3% following strong results that beat analyst estimates, supported by reduced debt.
Tata Consumer Products: Reported a 38% jump in net profit, leading to a share price increase.
Adani Group and Embraer Partnership
Adani Enterprises and Adani Ports rebounded up to 6% today. The uptick follows the announcement of a memorandum of understanding (MoU) between the Adani Group and Brazil’s Embraer to establish a regional aircraft manufacturing facility in India.
Bullion Markets: Gold and Silver Hit Record Highs
Precious metals continue a massive rally in 2026, driven by geopolitical tensions and currency concerns.
Silver: Futures on the MCX jumped over 7% to hit a fresh lifetime high of ₹3,59,800 per kg.
Gold: Prices breached $5,100 per ounce globally, reflecting a flight to safety among investors.
Impact: Shares of Hindustan Zinc jumped 5% as a direct result of the silver price surge.
Global Market Tensions & US Policy
Global markets remain resilient but cautious as a key Federal Reserve meeting and major US “Big Tech” earnings (including Tesla and Microsoft) loom this week.
Tariff Shocks: US President Trump’s threat to raise tariffs on South Korean goods to 25% initially rattled Asian markets, though South Korean auto stocks like Hyundai and Kia showed some recovery later in the day.
US Litigation: Market sentiment is also being shaped by President Trump’s $5 billion lawsuit against JPMorgan Chase over alleged politically motivated account closures.
