Business

Stock Market Opens Higher Ahead Of Eco Survey, Union Budget

As the nation prepares for the Economic Survey and Union Budget 2025-26, domestic benchmark indices opened higher on Friday. Investors showed optimism, seeking potential catalysts in the upcoming Budget.

While the Sensex was up almost 184 points or 0.24 percent at 76,935 around 9.31 a.m., the Nifty gained 74 points or 0.32 percent at 23,323 in early trade. Sensex and Nifty have been on a three-day winning streak this week despite foreign institutional investors (FIIs) unwinding long positions.

Larsen & Toubro, Infosys, Titan, Tata Consumer Products, and Maruti Suzuki India added to the Nifty 50 index, while Bharti Airtel, ICICI Bank, HDFC Bank, NTPC and Coal India weighed on the Nifty 50 index.

On the NSE, six sectors advanced and six declined out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty IT advanced the most.

The BSE Midcap and Smallcap indices were trading 0.31 percent or 0.295 higher, respectively. Market watchers expect some volatility amid the Union Budget announcements and suggest focusing on key sectors such as railways, infrastructure, fertilizers, textiles, and electric vehicles (EV).

Akshay Chinchalkar, Head of Research, Axis Securities, said that Nifty had a volatile outing on Thursday as a slump post-noon saw a recovery in the final hour of trading.

“What’s notable is that the December close was 23,644, so if we aren’t able to close above this level today, it will be the first time since September 2001 that the Nifty would have fallen for four successive months,” he mentioned.

The FIIs remained net sellers on January 30, as they sold equities worth Rs 4,582.95 crore, while domestic institutional investors purchased equities worth Rs 2,165.89 crore on the same day.

Hardik Matalia of Choice Broking advised traders to exercise caution, implement strict stop-loss strategies, and avoid carrying positions overnight, as they expect high volatility ahead of the Union Budget 2025.

The Economic Survey is prepared under the supervision of the Chief Economic Advisor V. Anantha Nageswaran and includes insights into the economy prepared by the economic division of the Department of Economic Affairs in the Ministry of Finance.

The Union Budget will be presented by Finance Minister Nirmala Sitharaman on February 1.

Also Read: Congress And BJP Hold Legislature Party Meetings Ahead Of Assembly Session

IANS

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