Top 5 ASX 200 Highlights to Watch on Wednesday, January 28, 2026

Rowan Ashford

Published: January 28, 2026 1:35 AM ET

The S&P/ASX 200 Index (ASX: XJO) experienced a robust performance upon returning from a long weekend. The index surged by 0.9% to reach 8,941.6 points. Investors are keen to see if this upward momentum continues on Wednesday, January 28, 2026.

Top 5 ASX 200 Highlights to Watch on Wednesday, January 28, 2026

1. ASX 200 Expected to Rise

The Australian share market is poised for another rise on Wednesday. Current SPI futures predict the ASX 200 will open 44 points, or 0.5%, higher. This forecast is influenced by a positive night on Wall Street, despite the Dow Jones reporting a decline of 0.8%.

2. Surge in Oil Prices

Energy stocks in the ASX 200, particularly Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO), may benefit from recent oil price increases. WTI crude oil prices rose by 2.9%, reaching US$62.39 per barrel, while Brent crude surged by 3% to US$67.57 per barrel. Market actions follow a winter storm that has impacted oil output in the United States.

3. DigiCo Shares Recommended for Purchase

Analysts at Bell Potter suggest buying DigiCo Infrastructure REIT (ASX: DGT) shares. The brokerage upgraded the company’s stock to a buy rating, setting a price target of $3.25. They noted the stock’s underperformance over the last six months, down by 17%, highlights a potentially lucrative buying opportunity now that leasing and FFO forecasts for FY26 onward are clearer.

4. Gold Prices Moving Upward

Gold shares within the ASX 200 might see a quieter trading session on Wednesday. The price of gold futures has edged up by 0.1%, now standing at US$5,087.7 per ounce. This slight increase comes ahead of the US Federal Reserve’s interest rate meeting.

5. Positive Outlook for DroneShield Shares

DroneShield Ltd (ASX: DRO) remains a buy according to Bell Potter following its recent quarterly update. The broker maintains a buy rating with a price target of $5.00. They emphasize DroneShield’s competitive edge in the counter-drone technology sector, driven by its substantial R&D investment and battlefield experience. They predict 2026 will be pivotal for the global counter-unmanned aerial systems (C-UAS) market.

ASX 200 Index: 8,941.6 points (up 0.9%)
Expected Wednesday Opening: +44 points (0.5%)
WTI Crude Oil: US$62.39 (up 2.9%)
Brent Crude Oil: US$67.57 (up 3%)
Gold Price: US$5,087.7 (up 0.1%)
DigiCo Price Target: $3.25
DroneShield Price Target: $5.00

These developments denote significant influences on the ASX 200 for Wednesday, indicating market trends that investors should keep a close watch on.