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Of the 50 Nifty stocks, 38 recorded gains, with BEL, Hero MotoCorp, M&M, and Bajaj Finance among the top performers. Bank of India, Strides, Navin Fluorine, and Indian Bank were notable gainers in the midcap segment.
At today’s close, the headline indexes closed higher as investors awaited the annual budget, scheduled for Feb. 1, for key directional triggers.
Finance Minister Nirmala Sitharaman will present the Union Budget for 2025 when GDP growth has slowed significantly. It is anticipated that the government will focus heavily on economic recovery. The first part of Parliament’s Budget session is set to begin on January 31 and will run until February 13, 2025, with the second part starting on March 10 and concluding on April 4, 2025. The equity markets will remain open for trading on Saturday.
Sensex gained 741 points, closing at 77,501 on Fridat, while Nifty rose 259 points to 23,508. The Nifty index declined 0.6% in January, marking its fourth consecutive monthly drop, the longest losing streak since 2001.Sensex gained 741 points, closing at 77,501, while Nifty rose 259 points to 23,508.
Among individual stocks, Tata Consumer Products, BEL, and Nestle were key gainers, with Nestle rising 6% after strong Q3 results.
Larsen & Toubro Ltd. gained 4% as the infrastructure and engineering conglomerate reported its December quarter results after market hours on Thursday, reiterating its financial year 2025 guidance across metrics from order inflow to revenue and even core margins.
Kalyan Jewellers surged 13% as global brokerage firm Citi recommends investors to ‘Buy’ shares of Kalyan Jewellers India Ltd. after its December quarter results.
UPL hit a 52-week high after strong earnings, while Marico ended lower due to margin pressure.
First Published: Jan 31, 2025 3:55 PM IS
