Stock Market Today: Sensex Jumps Over 400 Points, Nifty Near 23,400 Ahead Of Budget Session
L&T, Titan, Nestle, M&M and Maruti Suzuki were among the top gainers on BSE Sensex, while ITC Hotels, Bharti Airtel, NTPC slipped, ICICI Bank and Bajaj Finserv, were among the top losers
Indian equity benchmarks, the Sensex and Nifty, opened slightly higher ahead of the Economic Survey 2025 and in line with gains in global markets on Friday. Investor optimism is building as attention shifts to potential catalysts in the upcoming Union Budget. Construction, IT, and auto stocks led the rally, while financials and metals put pressure on the benchmarks.
At 10 am, the Sensex rose by 391.89 points, or 0.51 per cent, to reach 77,151.70, while the Nifty gained 142.40 points, or 0.61 per cent, at 23,391.90. Of the shares traded, 2,186 advanced, 880 declined, and 108 remained unchanged.
L&T, Titan, Nestle, M&M and Maruti Suzuki were among the top gainers on BSE Sensex, while ITC Hotels, Bharti Airtel, NTPC slipped, ICICI Bank and Bajaj Finserv, were among the top losers.
Broader Market
In the broader market, both the BSE Midcap and BSE Smallcap indices rose by 0.2 per cent. Analysts suggest that quality mid-cap stocks with strong earnings potential and reasonable valuations are likely to perform well. However, stocks with stretched valuations may face challenges in the short term.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The Budget - expectations and actuals - will influence the market today and tomorrow. Since we are going into the Budget without a pre-Budget rally, the probability of a rally, post Budget, will be high if the Budget delivers on growth stimulating initiatives like cuts in personal income tax. But it is important to understand that the impact of the Budget will last only for a few days, at best. The medium to long-term trend of the market will be dictated by GDP and earnings growth. Therefore, investors should look for cues on these crucial macro trends.”
“Market is strongly reacting to results with good results being rewarded and poor results getting punished. This has spiked the market volatility. Fairly-valued high quality largecap financials continue to be a safe sector for investors,” he added.
US markets closed higher after a volatile session, as investors absorbed key earnings reports. Tesla's positive outlook helped offset Microsoft’s weaker-than-expected forecast. However, sentiment briefly dipped after former US President Donald Trump announced plans for a 25 per cent tariff on imports from Mexico and Canada, raising fresh inflation concerns.
Asian markets mirrored Wall Street’s performance, with Japan’s Nikkei 225 gaining 0.2 per cent and the Topix edging higher. In contrast, South Korea’s Kospi dropped nearly 1 per cent, while the small-cap Kosdaq fell 0.5 per cent. Chinese and Hong Kong markets were closed for the Lunar New Year holiday.
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