Mumbai, Jan 29: The Indian equity markets traded lower early on Thursday, tracking mixed global cues and weakness in IT stocks.

As of 9.30 am, Sensex eased 347 points, or 0.42 per cent, to reach 81,997, and Nifty lost 81 points, or 0.32 per cent at 25,260.

The rupee declined past the key 92 a dollar barrier in early trade, eclipsing its previous all-time low of 91.9650 last week.

Main broad-cap indices showed divergence with benchmark indices, as the Nifty Midcap 100 gained 0.21 per cent, and the Nifty Smallcap 100 surged 0.47 per cent.

All sectoral indices were trading in the red except metal, PSU bank, realty as well as oil and gas. Nifty metal and PSU bank were notable gainers up 1.76 per cent and 0.70 per cent. Nifty oil and gas gained 0.78 per cent.

Nifty IT was the major loser, down 1.29 per cent. Immediate support lies at 25,200 zone, while resistance is anchored at 25,400–25,500 zone, market watchers said.

Analysts dubbed Nifty’s surge of 300 points during the last two trading days as “a temporary response in anticipation of the Union Budget”. Since the bears won’t risk going into the Budget with huge open short positions, they have covered some shorts and this has contributed to the rally, they added.

FIIs short to medium-term strategy of ‘sell India’ and shift capital to other markets will remain unchanged unless there are notable announcements in the Budget, nudging them to return to India, they said.

Asia-Pacific markets mostly traded lower in the morning session after the US Federal Reserve overnight kept its benchmark rate steady at a target range of 3.5 per cent to 3.75 per cent.

In Asian markets, China’s Shanghai index eased 0.1 per cent, and Shenzhen added 0.01 per cent, Japan’s Nikkei traded flat, while Hong Kong’s Hang Seng Index gained 0.34 per cent. South Korea’s Kospi added 0.94 per cent.

The US markets ended largely in the green overnight as Nasdaq advanced 0.17 per cent. The S&P 500 eased 0.01 per cent, and the Dow gained 0.02 per cent.

On January 27, foreign institutional investors (FIIs) became net buyers for the first time in 2026, and net bought equities worth Rs 480 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 3,360 crore.

New Delhi, Jan 29: Nirmala Sitharaman is the first woman to present the Union Budget for the ninth consecutive time, making history in the country’s Parliamentary history, Prime Minister Narendra Modi said on Thursday.

Addressing the 2026 Budget Session in Parliament, PM Modi said that one-fourth of the 21st century has gone by. “This is the beginning of the next quarter. To attain the goal of Viksit Bharat in 2047, the important phase of these 25 years has begun. The first Budget of this second quarter of the century is about to be presented,” the Prime Minister noted.

PM Modi further stated that Sitharaman is the first woman finance minister of the country to present the Budget in Parliament for the ninth consecutive time.

“This is registered as a proud moment in the Parliamentary history of the country,” PM Modi highlighted.

FM Sitharaman will present the 15th Budget of the PM Modi government on February 1. This will also be the second full Budget since the National Democratic Alliance (NDA) came to power for a third consecutive term in 2024.

For the Union Budget 2026, the finance minister is backed by a strong team of bureaucrats and economists, including several new entrants.

Anuradha Thakur, Economic Affairs Secretary, is widely seen as the key figure in shaping the overall Budget architecture. She leads the Budget Division, which drafts the core documents and frames the macroeconomic strategy for FY2026-27. Her responsibilities include guiding resource allocation, assessing fiscal space, and ensuring that growth priorities align with overall economic stability.

Chief Economic Adviser V. Anantha Nageswaran provides the analytical backbone for the Union Budget. His office assesses global risks, projects economic growth, and evaluates sectoral trends across agriculture, industry, and services. It also advises the Finance Minister on major reforms, fiscal policy choices, and long-term financial strategy.

Revenue Secretary Arvind Shrivastava supervises both direct taxes, such as income tax and corporate tax, and indirect levies, including GST and customs duties. Budget 2026-27 will be his first as Revenue Secretary.

Expenditure Secretary Vumlunmang Vualnam oversees public spending, subsidy reforms, and the rollout of major central schemes. His department plays a key role in maintaining fiscal discipline and managing the fiscal deficit.

Department of Financial Services Secretary M. Nagaraju supervises public sector banks, insurance companies, and pension institutions. His department is deeply involved in pushing financial inclusion, expanding credit, and strengthening social security programmes.

Arunish Chawla, Secretary, Department of Investment and Public Asset Management, is responsible for managing non-tax revenue targets arising from the sale of government stakes in central public sector enterprises.

Ahmedabad, Jan 28: Cement major ACC Limited, part of the diversified Adani Portfolio, on Wednesday reported a standout performance for the quarter ended December 31 (Q3 FY26), with profit after tax (PAT) surging by 346 per cent (normalised basis) at Rs 380 crore year-on-year, with highest-ever quarterly revenue at Rs 6,483 crore — up by 22 per cent.

The company also recorded its highest-ever quarterly volume at 11.3 million tonnes, up 15 per cent (on-year).

“We have sustained our growth momentum with another strong quarter, delivering our highest‑ever quarterly volumes. Higher trade and premium cement sales, alongside continued expansion in RMX, have supported better realisations than industry peers and strengthened our market position in core regions,” said Vinod Bahety, Whole-Time Director and CEO, ACC Limited.

The company’s momentum during the quarter reflects transformative steps, chief among which is the announcement of the amalgamation of ACC Limited into Ambuja Cements Limited — establishing a unified ‘One Cement Platform’ that will accelerate its growth trajectory, drive operational excellence, improve capital efficiency, reinforce its industry leadership and support long-term value creation.

“The proposed integration into the One Cement Platform is expected to accelerate both efficiency and growth, enabling deeper synergies across procurement, manufacturing and distribution once statutory approvals are completed,” Bahety mentioned.

Pursuant to the implementation of the new Labour Codes with effect from November 21, 2025, the company has recognised Rs 50 crore as an exceptional expense towards additional Gratuity and Leave Encashment obligations.

Along with the parent company, ACC continues to work on cost leadership and targets to achieve Rs 3,650/ MT by FY28 under the One Cement Platform, it said.

Cement grinding units at Salai Banwa (2.4 MTPA) and Kalamboli (1.0 MTPA) are on track to be commissioned in Q4 FY26, the company informed.

“On the market side, our premium portfolio, led by ACC Gold, continues to deliver superior EBITDA margins, and the increasing share of Trade and Premium is expected to sustain realisation advantages. We are grateful to our customers, our expansive dealer and retailer network of over one lakh partners, and the seven‑lakh‑plus influencers (masons/contractors) who power the Adani Cement Parivar,” said Bahety.

Moreover, the concrete business footprint increased through the addition of 14 plants YoY — and now there are 117 plants spread over 45 cities.