As the nation gears up for the Economic Survey and the Union Budget 2025-26, the domestic benchmark indices on Friday opened higher. Optimism was seen in the air as investors looked for potential catalysts in the upcoming Budget.
While the Sensex was up almost 184 points or 0.24 per cent at 76,935 around 9.31 a.m., the Nifty gained 74 points or 0.32 per cent at 23,323 in early trade.
Sensex and Nifty have been on a three-day winning streak this week despite foreign institutional investors (FIIs) unwinding long positions.
Larsen & Toubro, Infosys, Titan, Tata Consumer Products and Maruti Suzuki India added to the Nifty 50 index, while Bharti Airtel, ICICI Bank, HDFC Bank, NTPC and Coal India weighed on the Nifty 50 index.
On the NSE, six sectors advanced and six declined out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty IT advanced the most.
The BSE Midcap and Smallcap indices were trading 0.31 per cent or 0.295 higher, respectively.
According to market watchers, some volatility is expected amid the Union Budget announcements, and key sectors to watch out for include railways, infrastructure, fertilisers, textiles and electric vehicles (EV), etc.
Akshay Chinchalkar, Head of Research, Axis Securities, said that Nifty had a volatile outing on Thursday as a slump post noon saw a recovery in the final hour of trading.
“What's notable is that the December close was 23,644, so if we aren't able to close above this level today, it will be the first time since September 2001 that the Nifty would have fallen for four successive months,” he mentioned.
The FIIs remained net sellers on January 30, as they sold equities worth Rs 4,582.95 crore, while domestic institutional investors purchased equities worth Rs 2,165.89 crore on the same day.
Given the prevailing volatility, traders are advised to exercise caution, implement strict stop-loss strategies, and avoid carrying positions overnight while maintaining strict stop-losses, as high volatility is expected ahead of the Union Budget 2025, said Hardik Matalia of Choice Broking.
The Economic Survey is prepared under the supervision of the Chief Economic Advisor V. Anantha Nageswaran, and includes insights into the economy prepared by the economic division of the Department of Economic Affairs in the Ministry of Finance.
The Union Budget will be presented by Finance Minister Nirmala Sitharaman on February 1.
IndusInd Bank CEO Kathpalia quits due to derivatives accounting lapse
IndusInd Bank announced on Tuesday that its Managing Director and CEO Sumant Kathpalia has resigned from his post in connections with the derivatives accounting lapse that has eroded the private sector bank's net worth.
Sensex closes in green during volatile trade, Nifty ends at 24,336
Sensex opened on a positive note of almost 180 points at 80,396 and surged to an intra-day high of 80,661. However, the index quickly erased its gains, dipping into the negative zone and reaching a low of 80,122, which was 539 points down from its highest point of the day.
Indian stock market rebounds with strong gains, Sensex jumps 1,006 points
The Indian stock market bounced back strongly on Monday despite geo-political tensions, with the benchmark indices ending the day on a robust note.
India-Pakistan tensions: History shows Sensex bounced back stronger after every conflict
Even as tensions between India and Pakistan rise once again following the barbaric Pahalgam terror attack, Indian stock markets have showcased resilience every time the two neighbouring nations went into conflict.
Indian stock market opens higher, Sensex above 80,000
The Indian equity benchmark indices opened higher on Friday amid positive global cues, as buying was seen in the IT, pharma and auto sectors in the early trade.
Adani’s cement major ACC clocks highest-ever annual PAT at Rs 2,402 crore in FY25
Leading cement and building materials company ACC Limited on Thursday reported highest-ever annual profit after tax (PAT) at Rs 2,402 crore in FY25, up by 3 per cent.
Sensex, Nifty extend winning streak for sixth day, rise nearly 8 pc in 6 sessions
The Indian stock market continued its upward journey for the sixth straight trading session on Tuesday, supported by gains in fast-moving consumer goods (FMCG) and private banking stocks.