Synopsis
Domestic benchmark indices experienced a strong bull rally early on Saturday, ahead of the much-anticipated Union Budget 2025-26, marking another successful trading session this week.Key Takeaways
- Sensex up by 1.17% at 77,657.84
- Nifty rises 1.30% to 23,557.05
- Sun Pharma and Airtel lead gains
- Focus on rural development and infrastructure
- GDP growth estimated at 6.3-6.8%
Mumbai, Feb 1 (NationPress) The domestic benchmark indices experienced a robust bull rally early on Saturday, just before the highly anticipated Union Budget 2025-26, continuing their upward trend for another trading session this week.
At 9.36 a.m., the Sensex was trading up by nearly 1.17 per cent or 898 points at 77,657.84, while the Nifty surged by 305 points or 1.30 per cent, reaching 23,557.05.
Sun Pharma, Airtel, Bharat Electronics, and NTPC emerged as significant gainers on the Nifty, while the main losers included ONGC, Hero Motocorp, BPCL, and Nestle.
Prashant Khemka, a fund manager at Fort Capital, indicated that considerable support is anticipated from the RBI during the Budget session.
This year's Union Budget is expected to uphold the government's commitment to fostering economic growth while ensuring fairness. The administration is likely to focus on enhancing the quality of life in rural sectors to promote equitable and inclusive development.
Finance Minister Nirmala Sitharaman is also projected to persist with the government’s strategy of boosting investments in major infrastructure projects, aimed at stimulating growth and generating additional employment opportunities in the economy for the 2025-26 budget.
In early trading, broader indices outperformed with the Nifty Smallcap 250 climbing 0.5 per cent and Nifty Midcap 100 increasing 0.3 per cent.
Foreign institutional investors (FIIs) were net sellers on January 31, offloading equities worth Rs 1,188.99 crore, while domestic institutional investors (DIIs) bought 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 per cent for 2025-26.
The survey indicates that the Modi 3.0 government will maintain its focus on micro, small, and medium enterprises (MSMEs) along with promoting successful rabi crop production to accelerate growth and employment.
