**MARKET PULSE: Thursday, January 29, 2026** **Global & Domestic Equities** Global markets remain cautious following the **US Federal Reserve's** decision to hold interest rates steady at **3.75%**. In India, benchmark indices tracked global weakness and pre-Budget nervousness. The **Nifty 50** slipped below **25,300**, shedding nearly **69 points**, while the **Sensex** dropped over **280 points** to trade around **82,060**. Banking and IT stocks led the decline, with heavyweights like **Infosys** and **HDFC Bank** facing selling pressure. **Crypto Markets** Bitcoin (**BTC**) is trading firmly in the **$87,500 – $88,000** range, showing resilience despite broader market volatility. The total crypto market cap has seen a slight contraction to **$2.93 trillion**. Traders are eyeing the **$90,000** resistance level, though lowered liquidity and macroeconomic uncertainty are keeping aggressive bulls at bay. **Commodities Surge** Gold is witnessing a historic rally, surging over **2%** to break past **$5,500 per ounce**, driven by safe-haven demand amid geopolitical tensions. Silver followed suit, climbing to **$118**. Conversely, crude oil remains stable but elevated, with **Brent Crude** trading near **$68.45** and **WTI** holding above **$63.70** as supply concerns balance against demand fluctuations. **Key Drivers** * **Union Budget 2026:** Indian investors are firmly focused on the upcoming February 1 budget, causing heightened volatility in domestic sectors. * **Corporate Earnings:** Mixed results from major tech giants like **Microsoft** and **Tesla** are influencing global sentiment. * **Geopolitics:** Escalating tensions and recent warnings regarding Iran have added a risk premium to precious metals and energy markets. **Watchlist** Focus remains on **L&T** (strong order inflows) and **Maruti Suzuki** (earnings reaction), while the **USD/INR** pair stays relatively flat at **84.50**.