Sensex, Nifty Surge as Economic Survey Boosts Market Sentiment

By siliconindia  |  Friday, 31 January 2025, 05:00:06 PM IST

Sensex, Nifty Surge as Economic Survey Boosts Market Sentiment
The Indian stock market continued to gain on Friday for the fourth successive day as Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-25 in Parliament ahead of the Union Budget 2025-26. It forecasted that India's GDP growth would lie between 6.3% and 6.8% for 2025-26, which also boosted investor sentiment.
The BSE Sensex touched an intra-day high of 77,549.92 before it closed at 77,500.57 by gaining 740.76 points or 0.97%. The NSE Nifty also rose 258.90 points, or 1.11%, to close at 23,508.40. Intra-day range was between 23,530.70 and 23,277.40.
The initial heavy selling witnessed in the early part of the week seems to have lost the markets their otherwise positive outlook as investors now cautiously wait for the budget.
Out of the 30 Sensex stocks, four ended in red. ITC Hotels declined sharply by 4 .24% followed by Bharti Airtel, ICICI Bank and TCS. The top gainers included Adani Ports & SEZ, Titan, Mahindra & Mahindra, and IndusInd Bank.
On the Nifty, 45 out of 50 stocks closed in the green, with Trent, BEL, Tata Consumer Products, and Titan being the major gainers. Bharti Airtel, ITC Hotels, and Kotak Mahindra Bank were the biggest losers.
Sector-wise, it was consumer durables that led the rally with a gain of 2.09%, followed by auto, realty, oil, and FMCG indices, all of which recovered more than 1%. IT, metal, and media also saw stocks climbing, while Nifty Bank more or less remained flat.
In the broader market, the BSE Midcap and BSE Smallcap indices rose 1.14% and 1.24% respectively. The NSE recorded an advance of 1,933 stocks, while 636 declined. Additionally, 18 stocks set its 52-week high, while 46 set its 52-week low.
The Economic Survey said that the micro, small, and medium enterprises (MSMEs) is still in focus for the government as well as the rabi crop production to spur economic growth and employment.

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