Synopsis
On February 1, Mumbai's domestic benchmark indices experienced a bullish trend ahead of the anticipated Union Budget 2025-26, continuing their upward trajectory for another trading session this week. Key stocks saw gains, notably in the small and mid-cap segments.Key Takeaways
- Domestic indices show bullish trend.
- Sensex up by 193.95 points.
- Nifty gains led by Sun Pharma and Airtel.
- Focus on rural development in the upcoming budget.
- GDP growth projected at 6.3-6.8 percent.
Mumbai, Feb 1 (NationPress) The domestic benchmark indices experienced a significant surge early on Saturday, in anticipation of the highly awaited Union Budget 2025-26, while maintaining their upward trend for another trading session this week.
The Sensex was seen trading up by nearly 193.95 points, or 0.25 percent, at 77,694.52, while the Nifty stood at 23,562.65, gaining 54.25 points, or 0.23 percent.
Sun Pharma, Airtel, Bharat Electronics, and NTPC emerged as the key gainers on the Nifty, with ONGC, Hero Motocorp, BPCL, and Nestle being the notable losers.
Prashant Khemka, a fund manager at Fort Capital, believes that the RBI is expected to play a crucial role during the Budget session.
This year's Union Budget is anticipated to uphold the government's commitment to fostering economic growth while ensuring fairness.
The administration is likely to prioritize enhancing the living standards in rural regions to promote equitable and inclusive development.
Finance Minister Nirmala Sitharaman is expected to uphold the government’s strategy of increasing investments in significant infrastructure projects to stimulate growth and generate additional employment opportunities in the economy for the Budget of 2025-26.
In early trading, broader indices outperformed, with the Nifty Smallcap 250 rising by 0.5 percent and the Nifty Midcap 100 increasing by 0.3 percent.
Foreign Institutional Investors (FIIs) were net sellers on January 31, offloading equities worth Rs 1,188.99 crore, while Domestic Institutional Investors (DIIs) acquired equities valued at Rs 2,232.22 crore on the same day.
The Economic Survey 2024-25, presented in Parliament by Union Finance Minister Nirmala Sitharaman, estimates India’s GDP growth at 6.3-6.8 percent for 2025-26.
The survey indicates that the Modi 3.0 government will continue its focus on micro, small, and medium enterprises (MSMEs) and strong rabi crop production to enhance growth and employment opportunities within the economy.
