Sudip Chanda, The Bengal News, January 22, 2026 : The Indian equity markets snapped a three-day losing streak on Thursday, bolstered by a wave of positive global cues and a bullish revision of national growth forecasts. As the World Economic Forum at Davos highlights India’s transition from an “emerging” to a “pivotal” global player, domestic benchmarks reflected this optimism with a solid recovery.
The BSE Sensex surged by 397.74 points (0.49%) to settle at 82,307.37, while the NSE Nifty 50 climbed 132.40 points (0.53%) to close at 25,289.90. The rally was largely driven by a cooling of international trade tensions and strong buying from Domestic Institutional Investors (DIIs), who pumped in over ₹4,500 crore to offset continued selling by foreign funds
Key Market Movers (Jan 22, 2026):
- Top Gainers: Dr. Reddy’s Laboratories (+5.31%), Bharat Electronics (+3.76%), and Adani Enterprises (+2.76%).
- Top Losers: Eternal Ltd (-2.47%), SBI Life (-1.48%), and Titan (-1.40%).
- Sector Highlights: PSU Banks and Media indices were the star performers, each gaining over 2.3%.
India’s manufacturing sector has reached a record-breaking performance peak, with the FICCI Manufacturing Index touching an all-time high in the third quarter (October–December) of the 2025-26 financial year. The latest findings from the Federation of Indian Chambers of Commerce and Industry (FICCI) suggest that the sector is navigating global geopolitical volatility with remarkable resilience, fueled primarily by an insatiable domestic appetite. According to the 68th edition of FICCI’s Quarterly Survey on Manufacturing (QSM), 91% of respondents reported higher or stable production levels in Q3, a significant jump from 87% in the previous quarter. This surge is underpinned by a “stronger-than-expected” order book.
The Catalyst: Industry experts point to recent GST rate cuts and the festive season surge as the primary drivers that have revitalized consumer spending and improved cost competitiveness for domestic firms.
Order Outlook: 86% of manufacturers anticipate higher or unchanged orders this quarter.
Sectoral Performance: Electronics Leads the Charge
The recovery is not uniform across all sectors, but the trend is overwhelmingly positive. The electronics and electrical segments have emerged as the “star performers” of the quarter.
| Growth Category | Sectors Involved | Growth Projection |
| Strong | Electronics & Electricals, Miscellaneous | 10% – 20% |
| Moderate | Auto Components, Capital Goods, Textiles, Chemicals, Metals | 5% – 10% |
The Capital Goods sector remains a pillar of strength, benefiting from the government’s sustained infrastructure push and a reviving private CAPEX (capital expenditure) cycle. Despite the high performance, the industry is operating at an average capacity utilization of 75%. While this reflects healthy economic activity, it also suggests that many firms are nearing their “tipping point,” where new investments in factories and machinery will be required to meet further demand.
The record-high index comes despite a backdrop of rising costs and external uncertainty.
- Production Costs: 57% of manufacturers reported an increase in production costs due to higher raw material prices, currency depreciation, and surging logistics and power expenses.
- Global Risks: The survey flagged “Trump-era” trade uncertainties, tariffs, and geopolitical restrictions as key hurdles for capacity expansion. Furthermore, while 80% of firms have enough labor, 20% cited a critical shortage of skilled workers, calling for urgent government-industry collaboration on vocational training.
“The manufacturing sector is in a Goldilocks zone for growth, but we must remain vigilant regarding global supply chain disruptions,” said a FICCI spokesperson. “The domestic market is our fortress right now.”
India–European Union Free Trade Agreement nears conclusion after nearly two decades; deal touted as a major Republic Day economic milestone. United Arab Emirates commits to setting up a large food processing cluster in Andhra Pradesh, boosting agri-industrial investments. Maharashtra signs 19 MoUs worth ₹14.5 lakh crore (US$163 bn) at World Economic Forum, with potential to create ~15 lakh jobs. APEDA hosts Organic Conclave in Guwahati to scale Assam’s agri-exports and global market access.
