Sensex, Nifty Open Higher Ahead of Economic Survey & Budget
Indian equity benchmark indices BSE Sensex and Nifty50 opened in the green on Friday, ahead of the Economic Survey 2024-25 and Union Budget 2025. The Sensex was near 76,900, while Nifty50 traded above 23,300. At 9:17 AM, the Sensex was at 76,893.32, up 135 points (0.17%), and Nifty50 stood at 23,303.50, up 54 points (0.23%).
The markets ended higher on Thursday, with a third successive session of gains despite volatility from mixed global signals and the January F&O expiry. Investors remain focused on Budget announcements, particularly in capital expenditure and consumption-related sectors. Experts expect range-bound trading, with individual stocks reacting to budgetary policies and ongoing Q3 earnings reports.
Technical charts indicate resistance near the falling wedge’s upper limit and the 21EMA, suggesting possible short-term retracement. Key support is at 23,200, with a potential decline towards 23,000 if breached.
On the global front, US markets closed higher on Thursday as Tesla's positive outlook outweighed Microsoft's cautious forecast. Asian markets traded lower on Friday as technology stock weakness led the decline, though Australian shares gained and US futures advanced after Apple's strong earnings report.
Gold prices surged to a new high as it rose for a fifth week in a row, amid growing concerns over US tariff policies and ahead of a key inflation report that may have implications for the Federal Reserve's monetary strategy.
The Foreign Portfolio Investors (FPIs) are now net sellers of Rs 4,582 crore on Thursday while the domestic institutional investors have bought shares to the tune of Rs 2,166 crore. This was as FIIs' net short position slipped from Rs 2.24 lakh crore on Wednesday to Rs 1.73 lakh crore on Thursday.
