Indian Stock Market Extends Winning Streak Ahead of Union Budget
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Synopsis
On January 30, the Indian stock market continued its positive trend for the third straight session, with both Sensex and Nifty gaining ground as anticipation builds for the upcoming Union Budget 2025-26. Key stocks performed well, while some experienced losses, reflecting mixed sector performance.
Key Takeaways
- Mumbai stock market sees continued gains.
- Sensex rises by 226.85 points.
- Nifty climbs to 23,249.50.
- 35 Nifty stocks close in the green.
- FIIs remain net sellers for 19 sessions.
Mumbai, Jan 30 (NationPress) The Indian stock market maintained its positive momentum on Thursday, marking its third consecutive session of gains, with both the Sensex and the Nifty finishing in the black as anticipation builds for the Union Budget 2025-26.
At the close of trading, the BSE Sensex rose by 226.85 points, or 0.3 percent, concluding the day at 76,759.81. Throughout the session, the index reached a high of 76,898.63 and dipped to a low of 76,401.13.
The Nifty increased by 86.40 points, or 0.37 percent, closing at 23,249.50. The index fluctuated between 23,311.15 and 23,139.20 during the trading day.
On the Nifty, 35 stocks finished in the green. Notable gainers included Bharat Electronics, Power Grid Corporation, Cipla, Hero MotoCorp, and Bharti Airtel, which surged by as much as 4.87 percent.
Conversely, Tata Motors, ITC Hotels, Shriram Finance, and Bajaj Finserv were among the 17 stocks that experienced declines.
The Nifty Smallcap 100 index recorded a minor gain of 0.12 percent, while the Nifty Midcap 100 finished nearly unchanged with a 0.01 percent drop.
Sector performance varied, with indices such as Nifty FMCG, Healthcare, Financial Services, Pharma, and OMCs showing gains of up to 1.55 percent.
In contrast, the Nifty IT index fell by 1.14 percent to 42,426.65, impacted by losses in Coforge and Mphasis.
The India VIX, a gauge of market volatility, increased by 6.70 percent to 17.39 points, indicating heightened market fluctuations.
Market analysts noted that a robust recovery in the final trading hour allowed the Nifty to close higher at 23,249.50.
On January 29, foreign institutional investors (FIIs) continued to be net sellers for the 19th consecutive session, offloading equities valued at Rs 2,586 crore, whereas domestic institutional investors purchased equities worth Rs 1,792.71 crore on the same day.
