SGX Nifty January 2026 futures declined by 17.50 points, indicating a bearish opening for the Nifty 50 today. The Federal Reserve on Wednesday decided to maintain its key interest rate within the range of 3.5%-3.75%. The decision has interrupted a series of three consecutive quarter percentage point reductions, characterized as precautionary measures to protect against possible declines in the labor market. The committee, in its decision to maintain the current stance, has upgraded its outlook on economic growth. It also alleviated its worries regarding the labor market in relation to inflation.

Meanwhile, India’s industrial production increased to a 26-month high of 7.8% in December, rising from 7.2% in November, as reported by the government on January 28. The notable increase was fueled by widespread growth in manufacturing, capital goods, and infrastructure-related sectors, indicating strong momentum as the calendar year concludes.

Institutional Flows:

On 28 January 2026, provisional data indicated that foreign portfolio investors (FPIs) acquired shares valued at Rs 480.26 crore, whereas domestic institutional investors (DIIs) were net buyers amounting to Rs 3,360.59 crore in the Indian equity market.

The foreign institutional investors have divested shares amounting to Rs 43,292.62 up to this point in January. Their cash sales amounted to Rs 34,349.62 crore in December and Rs 17,500.31 crore in November.

Global Markets:

On Thursday, the Asian market predominantly experienced declines following the U.S. Federal Reserve’s decision to maintain its benchmark rate at a target range of 3.5% to 3.75%. Market participants are closely monitoring the situation in Indonesia following a significant decline of over 8% in the benchmark Jakarta Composite on Wednesday. This drop came in response to a statement from index provider MSCI, which cautioned about a possible downgrade of the country to frontier-market status.

Meanwhile, Singapore’s central bank maintained its monetary policy on Thursday, while cautioning about potential upward pressures on inflation and demand as the city-state’s economic outlook remains robust. The country’s benchmark Straits Times Index experienced a modest increase of 0.19%. Overnight in the U.S., the S&P 500 achieved a significant milestone, reaching 7,000 for the first time, before experiencing a pullback as the Federal Reserve maintained interest rates and revised its economic growth outlook upward.

The broad market index concluded the day with a slight decline of 0.01%, settling at 6,978.03. Earlier, the S&P 500 increased by 0.3% for the day, reaching an unprecedented intraday high of 7,002.28. The Dow Jones Industrial Average experienced a slight increase of 0.02%, concluding the session at 49,015.60. The Nasdaq Composite exhibited strong performance, increasing by 0.17% to close at 23,857.45.

Domestic Market:

The primary equity benchmarks recorded gains for the second consecutive session on Wednesday, driven by an enhanced risk appetite that bolstered market sentiment. The positive sentiment surrounding the finalization of the India-EU free trade agreement, along with encouraging global indicators, fueled the upward movement. In the current scenario, a stable rupee alongside steady crude oil prices has provided reassurance for investors. The Nifty concluded the session above the 25,300 level, driven by strength in energy and metal stocks.

The S&P BSE Sensex increased by 487.20 points, representing a rise of 0.60%, reaching a level of 82,344.68. Meanwhile, the Nifty 50 saw an uptick of 167.35 points, or 0.66%, closing at 25,342.75. In the last two trading sessions, the Sensex has increased by 0.99%, while the Nifty has advanced by 1.17%.