Closing Bell: Sensex Soars 741 Points, Nifty Surpasses 23,500 Ahead of the Union Budget

The Indian stock market witnessed a positive trend, with both the Sensex and Nifty registering gains, driven by widespread buying activity across various sectors. This upward movement marked the fourth consecutive session of gains, particularly noteworthy as it occurred on the eve of the Union Budget. The Sensex soared by 740.76 points, closing at 77,500.57, an increase of 0.97 percent. Similarly, the Nifty rose by 258.90 points, ending the day at 23,508.40, which is a 1.11 percent gain.

In terms of market breadth, there was a clear tilt towards advancing shares. A total of 2635 stocks advanced, overshadowing the 1131 stocks that declined. Meanwhile, the number of unchanged shares stood at 120. This broad-based rally underscores the optimistic sentiment pervading the market, with investors engaging in active buying across the board.

Leading Gainers and Laggards in the Market

Highlighting the day's performance were specific stocks that led the charge on the Nifty. Tata Consumer, Trent, Bharat Electronics, Nestle India, and L&T emerged as the biggest gainers, contributing significantly to the index's upward trajectory. On the flip side, a few stocks faced setbacks, including Bharti Airtel, ICICI Bank, Bajaj Finserv, Apollo Hospitals, and JSW Steel, which ranked among the day's losers.

Moreover, the positive momentum was not limited to the main indices but was also reflected in the performance of sectoral indices. Notably, all sectoral indices concluded the session in the green. The Consumer Durables, Oil & Gas, Power, PSU, and Realty sectors, alongside FMCG, saw increases of approximately 2 percent each. The Capital Goods index was a standout, registering a near 4 percent uplift.

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Jan 31, 2025, 3:44 pm IST

Economic Survey 2025 Reveals Insights on Stability and Inflation Trends

Union Finance Minister Nirmala Sitharaman recently unveiled the Economic Survey 2025, which paints an optimistic picture for India's economic future. With predictions for the GDP growth in the financial year 2026 ranging from 6.3% to 6.8%, the survey acknowledges the external uncertainties while remaining confident about India's economic stability. Under Chief Economic Advisor V. Anantha Nageswaran's supervision, the survey elaborates on various facets of the economy, from sectoral performances to inflation rates and financial sector health, suggesting a well-rounded assessment of the nation's economic landscape.

Jan 31, 2025, 1:11 pm IST

FY26 GDP growth seen in 6.3-6.8%: Report

FY26 GDP growth seen in 6.3-6.8 percent range: Report

Jan 31, 2025, 12:11 pm IST

Nestle's Q3 Financial Results: Rs 696 Crore PAT, Declares Rs 14.25 Interim Dividend

Nestle's third-quarter financial outcomes revealed a profit after tax (PAT) of Rs 696 crore, which fell short of the market's expectations set at Rs 734 crore. Despite this, the company announced an interim dividend payment of Rs 14.25 per share. This discrepancy between the projected and actual earnings has caught the attention of investors, as it reflects on the company's financial performance during the period. The interim dividend of Rs 14.25 per share is a significant aspect of Nestle's announcement, indicating the company's ongoing commitment to returning value to its shareholders despite the lower-than-expected PAT. This move could be seen as a positive gesture to maintain investor confidence in the face of the reported earnings shortfall.

Jan 31, 2025, 11:37 am IST

Gold Prices Rise To New Highs Ahead Of Budget; Trading In Gold, Silver At MCX To Be Open On February 1

Gold Prices In India have touched a new all-time high with MCX Gold hitting its highest level of Rs 82,415 per 10 grams for the first time on Friday, January 31. This comes ahead of Union Budget 2025 announcement on February 1. Notably, MCX has announced a special live trading session on Saturday due to the Budget. Hence, investors can further trade in gold and silver futures alongside other commodities on Saturday.

Jan 31, 2025, 11:25 am IST

Ola Electric Share Price Jumps 11% Post Gen 3 Scooter Reveal!

The announcement of the launch of Ola Gen 3 Scooters has led to a significant 11% increase in the share price of Ola Electric. This development indicates strong investor confidence in the company's new product line and its potential impact on the market. The Ola Gen 3 Scooters are expected to bring fresh innovation and competition to the electric vehicle sector, highlighting Ola Electric's ongoing commitment to advancing sustainable transportation solutions.

Jan 31, 2025, 11:13 am IST

Strong Q3 Performance Drives Suzlon Energy Shares Up by 16%

Suzlon Energy's shares have experienced a significant upswing, posting a nearly 16% increase in just three days. This surge is directly linked to the company's impressive earnings report for the third quarter, which showcased strong growth across the board. For the quarter that concluded in December 2024, Suzlon Energy, a key player in the renewable energy sector, unveiled a net profit that soared by 90% year-on-year, reaching an impressive Rs 386.92 crore.

Jan 31, 2025, 10:37 am IST

Kalyan Jewellers Stock Soars: 10% Upper Circuit Limit Achieved!

Kalyan Jewellers India Ltd. witnessed its shares soar, hitting the 10% upper circuit. This milestone comes on the back of an impressive 44% annual increase in profit after tax (PAT), which surged to Rs 219 crore from the Rs 180 crore recorded in the corresponding period the previous year.

Jan 31, 2025, 10:12 am IST

Bajaj Holdings Reports 6.3% Rise in Q3 Profit!

In the third quarter, Bajaj Holdings & Investment Ltd reported a 6.3% increase in its consolidated profit, marking a solid performance amidst a dynamic market. This financial uplift was paired with a notable 17% rise in revenue, showcasing the company's strong operational efficiency and market presence. The figures released indicate a positive trajectory for the conglomerate, reflecting well on its diverse portfolio and strategic initiatives. The steady growth in profit and revenue underscores Bajaj Holdings & Investment Ltd's resilience and adaptability in navigating the challenges of the current economic landscape. This achievement is seen as a testament to the company's robust business model and its ability to capitalize on opportunities, despite the prevailing uncertainties.

Jan 31, 2025, 9:59 am IST

Bank of Baroda (BOB) In Focus

Compared to a profit of Rs 4,579 crore in Q3FY24, BOB recorded a standalone net profit of Rs 4,837 crore in Q3FY25. In Q3FY25, Net Interest Income (NII) increased 2.8% YoY to Rs 11,417 crore. The bank's gross non-performing assets (NPA) dropped 11.9% year over year to Rs 28,471 crore in Q3FY25, and its gross non-performing assets ratio improved from 3.08% in Q3FY24 to 2.43% in Q3FY25. In comparison to 0.70% in Q3FY24, the Bank's Net NPA Ratio dropped to 0.59% in Q3FY25.

Jan 31, 2025, 9:36 am IST

Opening Bell

In the opening session on Friday ahead of Budget 2025 the Indian stock market opened in green tracking mixed global cues. Sensex gained over 140 pts whereas Nifty was seen opening at 23,296.75 level. The results of the Finance Minister's eighth consecutive budget, 2025, are being keenly anticipated by the markets.

Jan 31, 2025, 9:22 am IST

Rupee Vs Dollar

After closing at 86.62 on Thursday, the Indian rupee began unchanged at 86.63 per dollar on Friday.

Jan 31, 2025, 9:12 am IST

Nifty Outlook Today By Anand James, Chief Market Strategist, Geojit Financial Services

Though an enthusiastic upside evolved early in the day, it failed short of achieving the full objective of 23485 lined up for yesterday. We will go in today aiming to play for the same objective today, as the 23128 region had stepped in to restrain the dips and allow bulls to regroup. Downside marker may be pushed higher to 23260-200 region.

Jan 31, 2025, 8:43 am IST

Market Outlook Today By Dr. 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. 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. 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 largecap financials continue to be a safe sector for investors.

Jan 31, 2025, 8:17 am IST

Nifty Outlook By Rupak De, Senior Technical Analyst at LKP Securities

The Nifty remained volatile within a defined range on expiry day. The daily RSI is in a bullish crossover, signifying strong momentum. However, the index is facing resistance near the upper boundary of the falling wedge as well as the 21EMA on the daily timeframe, suggesting a possible retracement in the near term. Support is seen at 23,200, and a break below this level could trigger a decline towards 23,000. On the other hand, a decisive move above 23,300 might push the index towards 23,500.

Jan 31, 2025, 8:13 am IST

Market Outlook By Mr. Devarsh Vakil, Head - Prime Research, HDFC Securities

With the FOMC meeting now behind us, market attention shifts to the European Central Bank, which is expected to announce a 25-basis-point rate cut today to boost the sluggish eurozone economy. The Nifty has rallied over 500 points in the last three sessions from its recent swing low of 22,786. The index faces immediate resistance at the previous swing high of 23,426, while support is expected in the 23,050-23,100 range.

Jan 31, 2025, 8:11 am IST

Nifty Prediction By Osho Krishnan, Sr. Analyst, Technical & Derivatives of - Angel One

The benchmark index continued its winning spree for the third session in a row and is gradually headed for the pivotal resistance of 23350-23400 on the daily charts. However, the breather in the broader market and recovery in the heavyweights have slightly uplifted the near-term support for the benchmark towards the 23100-23000 zone. Additionally, the confluence of the 20-day EMA and the neckline of the breakdown represents a formidable hurdle for bulls, and as long as this challenging dynamic persists, caution is warranted. Simultaneously, as we near the Union Budget session, it is anticipated that the market will experience fluctuations and increased volatility. Investors are encouraged to adopt a focused, stock-centric strategy, carefully evaluating individual stocks rather than trying to time broader market movements.