Synopsis
On January 31, the Indian stock market continued its upward trend for the fourth consecutive day, with Finance Minister Nirmala Sitharaman presenting the Economic Survey 2024-25, predicting a GDP growth of 6.3-6.8 percent for 2025-26 ahead of the Union Budget.Key Takeaways
- Mumbai stock market rises for four consecutive days.
- Economic Survey 2024-25 forecasts India's GDP growth at 6.3-6.8 percent.
- BSE Sensex hits an intraday high of 77,549.92.
- NSE Nifty ends at 23,508.40, with 45 out of 50 stocks rising.
- Consumer durables sector leads performance with 2.09 percent gain.
Mumbai, Jan 31 (NationPress) The Indian stock market saw a continued upward trend on Friday, marking the fourth consecutive day of gains as Finance Minister Nirmala Sitharaman delivered the Economic Survey 2024-25 in Parliament in anticipation of the Union Budget 2025-26.
The Economic Survey forecasts India's GDP growth between 6.3-6.8 percent for the fiscal year 2025-26.
The BSE Sensex reached an intraday peak of 77,549.92 before settling at 77,500.57, a rise of 740.76 points or 0.97 percent. Meanwhile, the NSE Nifty closed up 258.90 points, or 1.11 percent, at 23,508.40, fluctuating between 23,530.70 and 23,277.40 throughout the day.
The week wrapped up with a mixed sentiment—initial heavy selling, a temporary rebound, and now a cautious wait-and-see stance ahead of the budget, as noted by market analysts.
Only four stocks from the 30-share BSE Sensex posted losses—ITC Hotels down 4.24 percent, followed by Bharti Airtel, ICICI Bank, and TCS.
On the upside, the top performers on Sensex included Adani Ports & SEZ, Titan, Mahindra & Mahindra, IndusInd Bank, among others.
In the Nifty index, 45 out of 50 stocks finished in the green, with the leading gainers being Trent, BEL, Tata Consumer Products, Titan, and more.
Conversely, the biggest losers were Bharti Airtel, ITC Hotels, Kotak Mahindra Bank, and others.
The consumer durables sector emerged as the top performer, climbing 2.09 percent, followed closely by the auto, real estate, oil, and FMCG indices, all gaining over 1 percent each.
Additionally, sectors such as IT, Metal, and Media stocks also saw upward movement, while the Nifty Bank index remained stable.
In the broader market, the BSE Midcap increased by 1.14 percent, and the BSE Smallcap rose 1.24 percent.
On the NSE, 1,933 stocks advanced while 636 stocks declined during the trading session. Furthermore, 18 stocks hit their 52-week highs, while 46 stocks reached 52-week lows.
The Economic Survey 2024-25 estimates India's GDP growth at 6.3-6.8 percent for 2025-26.
According to the survey, the Modi 3.0 government will maintain its focus on micro, small, and medium enterprises (MSMEs) and successful rabi crop production to drive growth and job creation in the economy.
