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Stock Market Today: Sensex Settles Over 220 Points, Nifty Over 23,240

Bharti Airtel, Power Grid, Bajaj Finance, Nestle India and M&M were the top gainers on the BSE Sensex, while ITC Hotels, Bajaj Finserv, Adani Ports and Zomato were among the top losers

The Indian benchmark indices extended their winning streak to a third consecutive session on Thursday, supported by gains in financial and oil & gas stocks, while IT and auto stocks weighed on the indices. Investors are now looking forward to the upcoming Union Budget 2025, which is expected to shape the market's next move.

At the close, the Sensex gained 227 points, or 0.3 per cent, finishing at 76,760, while the Nifty rose 86 points, or 0.4 per cent, to reach 23,250. A total of 2,051 shares advanced, 1,734 declined, and 117 remained unchanged. Both indices are down roughly 11 per cent from their record highs on September 27, 2024.

Bharti Airtel, Power Grid, Bajaj Finance, Nestle India and M&M were the top gainers on the BSE Sensex. On the other side Tata Motors, ITC Hotels, Bajaj Finserv, Adani Ports and Zomato were among the top losers.

Adding to market concerns, foreign portfolio investors (FPIs) have pulled out Rs 81,600 crore from Indian equities in January, marking the second-largest monthly outflow on record. High US Treasury yields and weak domestic earnings have kept foreign investors cautious and on the sidelines.

State-run Nifty 50 constituent Bharat Electronics rose 4 per cent after its December quarter results exceeded expectations, showing year-on-year growth across all parameters. Bharti Airtel gained 2.5 per cent following a strong profit surge of $133 million in Q3 FY25 for Airtel Africa, a sharp turnaround from a $6 million loss a year ago, driven by foreign exchange gains.

Broader Market Update

The broader market retreated from its highs, with both the BSE Midcap and BSE Smallcap indices ending flat.

In the US, markets showed a mixed performance after the Fed decided to keep rates unchanged at 4.25-4.5 per cent, offering no clear timeline for future rate cuts. With inflation still persistently high, the Fed removed its previous reference to progress toward its 2 per cent target, indicating that price pressures remain elevated.

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