Indian Stock Markets Rally for Fourth Consecutive Session, Sensex Surges 741 Points, Nifty Crosses 23,500 Ahead of Union Budget
Mumbai, January 31 – The Indian stock markets continued their upward momentum for the fourth consecutive session on Friday, with BSE Sensex surging 741 points and NSE Nifty surpassing the 23,500 mark. The rally was driven by strong quarterly results from Larsen & Toubro (L&T) and positive expectations from the upcoming Union Budget following the presentation of the Economic Survey 2024-25.
Market Performance
The BSE Sensex closed at 77,500.57, up 740.76 points (0.97%), after touching an intraday high of 846.15 points. Meanwhile, the NSE Nifty surged 258.90 points (1.11%) to close at 23,508.40, after rising 297.3 points at its peak during the session.
The Economic Survey 2024-25, presented in Parliament on Friday, projected India's economic growth at 6.3%-6.8% for FY 2025-26, citing strong fundamentals, fiscal prudence, and resilient private consumption.
Expert Insights
Vinod Nair, Head of Research at Geojit Financial Services, stated,
"The Economic Survey hints at a pro-growth budget, which fueled market optimism. Additionally, strong global cues and better-than-expected corporate earnings contributed to the rally."
He added,
"Investors expect the Budget to introduce measures such as personal tax cuts to boost consumption and job creation. While fiscal deficit reduction remains a priority, the government may increase infrastructure spending to support economic recovery."
Top Gainers and Losers
Larsen & Toubro (L&T) emerged as the biggest gainer, climbing 4.31%, following a 14% rise in its consolidated net profit to ₹3,359 crore for the December 2024 quarter. Nestlé India also surged 4.25% after reporting a 4.94% rise in net profit to ₹688.01 crore for Q3.
Other key gainers included IndusInd Bank, Titan, Tata Motors, Tata Steel, ITC, and Maruti.
On the losing end, ITC Hotels, Bharti Airtel, Bajaj Finserv, Bajaj Finance, and ICICI Bank closed in the red.
Broader Market Performance
The BSE SmallCap index jumped 1.83%, while
The BSE MidCap index rose 1.76%, reflecting strong investor interest in mid and small-cap stocks.
Global Market Trends
In Asia, Japan’s Nikkei gained, while South Korea’s Kospi closed lower.
Shanghai Composite and Hang Seng remained closed for a holiday.
In Europe, major indices were trading in positive territory in the afternoon session.
U.S. markets ended higher on Thursday, providing further support to Indian equities.
Foreign Investment & Oil Prices
Foreign institutional investors (FIIs) were net sellers, offloading ₹4,582.95 crore worth of shares on Thursday.
Meanwhile, Brent crude oil prices slipped 0.26% to $76.64 per barrel.
Upcoming Budget & Market Outlook
The Indian stock markets will remain open on Saturday (February 1, 2025) as Finance Minister presents the Union Budget 2025-26. With high expectations around growth-oriented fiscal measures, investors will closely watch key announcements that could impact market sentiment in the coming weeks.
