Adani Enterprises Limited (NSE: ADANIENT), Axis Bank Limited (NSE: AXISBANK), and JSW Steel Limited (NSE: JSWSTEEL) posted the strongest gains on the National Stock Exchange on January 27, 2026, closing with day-end rallies between 4 and 5 percent. The upside came amid elevated volumes, budget-linked expectations, and a clear tilt toward infrastructure-heavy and cyclical counters. With India’s Union Budget now days away, institutional portfolios appear to be rotating toward names with capital deployment visibility and policy alignment.
Why Adani Enterprises (NSE: ADANIENT) may be emerging as the pre-Budget high-beta proxy for infra-led capex sentiment
Adani Enterprises Limited led the day’s gainers with a 5.30 percent increase to ₹1,963.00. Volumes crossed 54.4 million shares, translating to ₹1,060 crore in value, one of the largest across the Nifty basket. The rally was not simply momentum-driven. There is growing positioning around infrastructure-centric conglomerates as investors speculate on renewed government push for logistics corridors, energy transition projects, and digital infra initiatives in the Union Budget.
Adani Enterprises, given its diversified exposure across airports, green hydrogen, transport, and data centers, is increasingly seen as a macro beneficiary of capex revival themes. Technical action around the ₹1,860 support zone earlier in the week also suggests tactical bullishness heading into February. The market is likely reading this as a conviction play on both capital flows and long-cycle infrastructure monetization.
What is fueling Axis Bank (NSE: AXISBANK) optimism among institutional buyers ahead of earnings and credit policy signals?
Axis Bank Limited followed with a 5.09 percent gain, closing at ₹1,322.00. Over 2.27 crore shares changed hands, pushing transaction value past ₹298 crore. Investors appear to be rotating into private banking names with asset quality stability and improving margin outlooks.
Axis Bank has outperformed peers on treasury gains and digital lending volumes in recent quarters. Coupled with its cleaner loan book, better-than-expected cost control, and continued traction in SME disbursements, the bank is increasingly being seen as a structural outperformer in a rising-rate regime. The possibility of budgetary steps to enhance credit to MSMEs or push for housing finance reforms may also be creating tailwinds.
Is JSW Steel (NSE: JSWSTEEL) benefitting from early positioning in the global commodity and domestic infra cycle?
JSW Steel Limited closed the session up 4.55 percent at ₹1,223.20. With global steel prices showing early signs of support following China’s liquidity easing measures, Indian producers are drawing interest. Investors are betting that incremental capital expenditure on housing, roads, and urban projects in Budget 2026 will drive volume visibility for domestic mills.
JSW Steel has also been more aggressive than peers in adding value-added downstream capacity, which helps cushion pricing volatility. With over ₹45 crore in traded value on the day, the institutional appetite for metals appears to be returning, albeit selectively.
Why Adani Ports (NSE: ADANIPORTS) and Grasim Industries (NSE: GRASIM) are emerging as logistics and services budget plays
Adani Ports and Special Economic Zone Limited (NSE: ADANIPORTS) gained 4.33 percent to close at ₹1,365.00. Market speculation suggests the upcoming Budget may revisit SEZ frameworks, coastal logistics incentives, or revive public-private port funding models. With high delivery volume and rising open interest, this rally appears conviction-driven rather than speculative.
Grasim Industries Limited (NSE: GRASIM) rose 3.66 percent to ₹2,860.00, as investors reassessed its transition from a pure commodity play into higher-margin verticals. The paints business launch later this year and continued scaling of its B2B services platform are being seen as catalysts for a longer-term re-rating. Valuation support and parent-group synergy narratives also played into the move.
What’s driving Tata Consumer (NSE: TATACONSUM) and Tata Steel (NSE: TATASTEEL) as twin bets on consumption resilience and industrial resurgence?
Tata Consumer Products Limited (NSE: TATACONSUM) rose 3.12 percent to ₹1,189.50. Renewed chatter around possible acquisitions in the health and nutrition space has reignited interest. With urban demand trends stabilizing and rural volumes recovering, investors are beginning to reposition the company as a post-staple, multi-category consumption platform.
Tata Steel Limited (NSE: TATASTEEL) also participated in the rally, up 2.93 percent at ₹193.10. The stock’s move was supported by institutional inflows seeking diversified exposure to both domestic infrastructure and global cyclical recovery. The company’s downstream product strategy and recent capex updates continue to reinforce investor confidence in execution.
Are IT and power sector stocks like Tech Mahindra (NSE: TECHM) and NTPC (NSE: NTPC) signalling sectoral breadth in the rally?
Tech Mahindra Limited (NSE: TECHM) posted a 2.76 percent gain, closing at ₹1,748.00. Investors appear to be rewarding the company’s pivot toward AI-first enterprise transformation deals and early traction in telecom monetization. With sentiment still cautious around discretionary IT spend, Tech Mahindra stands out for its differentiated vertical exposure and cost optimization levers.
NTPC Limited (NSE: NTPC) also rose 2.76 percent to ₹346.00. Traders noted strong delivery volume and broader interest in energy infrastructure names, particularly in the context of electricity distribution reforms and green transition announcements expected in the Budget. With stable regulated returns and pipeline visibility, NTPC is regaining favor as a steady institutional core holding.
Why Eicher Motors (NSE: EICHERMOT) is gaining ground again in the premium two-wheeler segment after a subdued Q3
Eicher Motors Limited (NSE: EICHERMOT) climbed 2.50 percent to ₹7,147.50. The stock’s recent consolidation appears to have ended, with traders pointing to improving retail channel checks and new model uptake in the 350cc and 650cc segments. Export momentum has also stabilized.
As the company continues to release product refreshes and teases more electric prototypes, sentiment is cautiously shifting toward re-rating Eicher as a premium growth compounder rather than a cyclical auto play. While the margin curve remains a concern, improving ASPs and dealer inventory normalization are being viewed positively.
What does today’s trading session reveal about pre-Budget positioning and institutional capital rotation on the NSE?
The top gainers on January 27, 2026, were not just a collection of high-volatility names, but sector leaders with strong delivery, budget-relevance, and fundamental catalysts. The rally was anchored in infrastructure, banking, metals, energy, and consumer names, suggesting a widening institutional bid across sectors with policy alignment.
More importantly, the breadth of gainers—from private banks to logistics ports, steel producers, and even auto and IT—signals a possible rotation out of ultra-defensive setups and into capital-heavy, real-economy assets. With the Union Budget likely to reinforce themes like manufacturing, energy security, and infrastructure digitization, these are the names where institutional positioning is likely to deepen further.
Key takeaways on what this development means for the company, its competitors, and the industry
- ADANI ENTERPRISES led the rally with a 5.30% gain, likely driven by infrastructure-linked Budget expectations and high institutional activity.
- AXIS BANK’s strong performance hints at growing confidence in large private banks ahead of Q4 earnings and Budget credit measures.
- JSW STEEL and TATA STEEL gained on global commodity optimism and expectations of renewed capex in manufacturing sectors.
- ADANI PORTS rallied as markets anticipate logistics and SEZ-friendly reforms in the Union Budget 2026.
- GRASIM INDUSTRIES saw fresh buying interest as investors begin to value its growing paint and B2B services verticals.
- TATA CONSUMER’s inclusion among top gainers reflects M&A speculation and steady consumer resilience narratives.
- TECH MAHINDRA benefited from continued rotation into AI-linked IT service providers.
- NTPC’s strength underscores renewed investor focus on core infrastructure and energy plays.
- EICHER MOTORS climbed as the premium auto narrative regains traction amid stable sales data.
- Overall, the session reflected early signs of pre-Budget rotation, with investors favoring high-beta, large-cap names with capital deployment visibility.
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