Friday 31 / January / 2025
Mumbai: The Indian stock markets ended higher for the fourth trading session, as the investor's sentiment is driven by the optimism from the upcoming Union Budget 2025-26.
At the end of the trading, the Nifty 50 was up 258.90 points or 1.11 per cent, at 23,508.40; on the other hand, the BSE Sensex was up 740.76 points or 0.97 per cent, at 77,500.57.
According to the market experts, the investor's sentiments will be influenced by the budget announcements in the coming days. The experts noted that the investors will be keenly watching the growth-stimulating initiatives like cuts in personal income tax, etc., in the budget announcements.
The market participants were watchful of the economic survey presented in the Parliament.
As per the projection of the survey, India's economy is projected to grow between 6.3 per cent and 6.8 per cent in FY26.
The optimism of the government influenced the domestic markets positively.
"The market is strongly reacting to results with good results being rewarded and poor results getting punished. This has spiked the market volatility. Fairly valued, high-quality, large-cap financials continue to be a safe sector for investors," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
"The budget--expectations and actuals--will influence the market today and tomorrow. Since we are going into the budget without a pre-budget rally, the probability of a rally post-budget will be high if the budget delivers on growth-stimulating initiatives like cuts in personal income tax. But it is important to understand that the impact of the budget will last only for a few days, at best," said Vijayakumar.
Experts also highlighted that the medium- to long-term trend of the market will be dictated by GDP and earnings growth.
"Therefore, investors should look for cues on these crucial macro trends," he added.
"During Friday's session, Nifty 50 closed at the 23,469 range, and after analysing the market, we can expect the index to gain support near 23,380 and 23,150 and face near 23,650 and 23,800 in the next session." VLA Ambala, SEBI Registered Research Analyst and Co-Founder of Stock Market Today.
At the end of the trading, Tata Consumer, Trent, Bharat Electronics, Nestle India, and L&T emerged as the gainers of the market, while Bharti Airtel, ICICI Bank, Bajaj Finserv, Apollo Hospitals, and JSW Steel were the losers.
In the sectoral indices on the National Stock Exchange (NSE), all the sectoral indices ended in the green territary. The indices of consumer durables, oil and gas, power, PSU, realty, and FMCG are up 2 percent each, while the capital goods index is up nearly 4 percent. BSE Midcap and Smallcap indices, on the other hand, gained nearly 2 percent each.
