Stock Market Gains: Airtel, Reliance Lead Surge - Sensex, Nifty Rise
By Rediff Money Desk, Mumbai Jan 30, 2025 16:46
Indian stock markets extended their winning streak for the third day, led by Reliance Industries and Bharti Airtel. Sensex closed at 76,759.81 and Nifty at 23,249.50.

Illustration: Uttam Ghosh/Rediff.com
Mumbai, Jan 30 (PTI) Extending the winning run to the third day, benchmark indices Sensex and Nifty closed higher on Thursday on buying in heavyweight stocks Reliance Industries, Bharti Airtel and HDFC Bank.
The 30-share Sensex advanced 226.85 points or 0.30 per cent to settle at 76,759.81 in a volatile trade amid the monthly expire day. During the day, it surged 429.92 points or 0.56 per cent to 76,962.88.
The NSE Nifty went up by 86.40 points or 0.37 per cent to 23,249.50.
From the 30-share blue-chip pack, Bharti Airtel, Power Grid, Bajaj Finance, Nestle, Mahindra & Mahindra, Reliance Industries, Asian Paints, IndusInd Bank, Hindustan Unilever and HDFC Bank were the biggest gainers.
Bajaj Finance climbed nearly 2 per cent after the company reported an 18 per cent increase in its consolidated net profit to Rs 4,308 crore for the December quarter.
Tata Motors tanked over 7 per cent after the firm reported a 22 per cent fall in consolidated net profit to Rs 5,578 crore for the third quarter ended December 2024, impacted by a decline in revenue from its passenger and commercial vehicles divisions.
ITC Hotels, Bajaj Finserv, Adani Ports, Tech Mahindra, Zomato and Kotak Mahindra Bank were the other laggards.
"The Indian markets concluded on a positive note despite fluctuating between gains and losses. The fall in oil prices due to a rise in US inventories and an ease in US 10-year yield after the US Fed's hawkish view may decelerate FII outflows.
"The upcoming budget may be seen as an inflection point, which is likely to reverse the current bearish trend if the policies restore growth and consumption," Vinod Nair, Head of Research, Geojit Financial Services, said.
"The market exhibited high volatility on the monthly expiry day but managed to extend its winning streak for the third consecutive session. After an initial surge, Nifty saw profit-taking in the mid-session before a late rebound helped it close with decent gains. With the budget countdown underway, we anticipate continued market fluctuations," Ajit Mishra SVP, Research, Religare Broking Ltd, said.
The BSE smallcap gauge closed marginally up by 0.02 per cent, while midcap index dipped 0.04 per cent.
Among BSE sectoral indices, oil & gas jumped 1.59 per cent, energy (1.52 per cent), realty (1.49 per cent), healthcare (1.14 per cent) and telecommunication (1.08 per cent).
BSE consumer discretionary, IT, consumer durables, teck, services and BSE Focused IT were the laggards.
As many as 2,138 stocks advanced while 1,812 declined and 124 remained unchanged on the BSE.
In Asian markets, Tokyo settled in positive territory. Markets in Seoul, Shanghai and Hong Kong were closed due to holidays. European markets were trading in the green. The US markets ended lower on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,586.43 crore on Wednesday, according to exchange data.
Global oil benchmark Brent crude dipped 0.43 per cent to USD 76.25 a barrel.
"Indian markets are currently experiencing heightened volatility due to sluggish economic growth and uncertainty surrounding Trump's policies and tariffs. With the monthly expiry of major indices today and the Union Budget scheduled for February 1st, investor sentiment is closely tied to upcoming economic measures.
"The interplay between global factors and domestic policies is adding to the complexity, making this a crucial period for market participants," Vikas Gupta, CEO and Chief Investment Strategist, OmniScience Capital, said.
The 30-share BSE benchmark jumped 631.55 points or 0.83 per cent to settle at 76,532.96 on Wednesday. The Nifty soared 205.85 points or 0.90 per cent to 23,163.10.
The 30-share Sensex advanced 226.85 points or 0.30 per cent to settle at 76,759.81 in a volatile trade amid the monthly expire day. During the day, it surged 429.92 points or 0.56 per cent to 76,962.88.
The NSE Nifty went up by 86.40 points or 0.37 per cent to 23,249.50.
From the 30-share blue-chip pack, Bharti Airtel, Power Grid, Bajaj Finance, Nestle, Mahindra & Mahindra, Reliance Industries, Asian Paints, IndusInd Bank, Hindustan Unilever and HDFC Bank were the biggest gainers.
Bajaj Finance climbed nearly 2 per cent after the company reported an 18 per cent increase in its consolidated net profit to Rs 4,308 crore for the December quarter.
Tata Motors tanked over 7 per cent after the firm reported a 22 per cent fall in consolidated net profit to Rs 5,578 crore for the third quarter ended December 2024, impacted by a decline in revenue from its passenger and commercial vehicles divisions.
ITC Hotels, Bajaj Finserv, Adani Ports, Tech Mahindra, Zomato and Kotak Mahindra Bank were the other laggards.
"The Indian markets concluded on a positive note despite fluctuating between gains and losses. The fall in oil prices due to a rise in US inventories and an ease in US 10-year yield after the US Fed's hawkish view may decelerate FII outflows.
"The upcoming budget may be seen as an inflection point, which is likely to reverse the current bearish trend if the policies restore growth and consumption," Vinod Nair, Head of Research, Geojit Financial Services, said.
"The market exhibited high volatility on the monthly expiry day but managed to extend its winning streak for the third consecutive session. After an initial surge, Nifty saw profit-taking in the mid-session before a late rebound helped it close with decent gains. With the budget countdown underway, we anticipate continued market fluctuations," Ajit Mishra SVP, Research, Religare Broking Ltd, said.
The BSE smallcap gauge closed marginally up by 0.02 per cent, while midcap index dipped 0.04 per cent.
Among BSE sectoral indices, oil & gas jumped 1.59 per cent, energy (1.52 per cent), realty (1.49 per cent), healthcare (1.14 per cent) and telecommunication (1.08 per cent).
BSE consumer discretionary, IT, consumer durables, teck, services and BSE Focused IT were the laggards.
As many as 2,138 stocks advanced while 1,812 declined and 124 remained unchanged on the BSE.
In Asian markets, Tokyo settled in positive territory. Markets in Seoul, Shanghai and Hong Kong were closed due to holidays. European markets were trading in the green. The US markets ended lower on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,586.43 crore on Wednesday, according to exchange data.
Global oil benchmark Brent crude dipped 0.43 per cent to USD 76.25 a barrel.
"Indian markets are currently experiencing heightened volatility due to sluggish economic growth and uncertainty surrounding Trump's policies and tariffs. With the monthly expiry of major indices today and the Union Budget scheduled for February 1st, investor sentiment is closely tied to upcoming economic measures.
"The interplay between global factors and domestic policies is adding to the complexity, making this a crucial period for market participants," Vikas Gupta, CEO and Chief Investment Strategist, OmniScience Capital, said.
The 30-share BSE benchmark jumped 631.55 points or 0.83 per cent to settle at 76,532.96 on Wednesday. The Nifty soared 205.85 points or 0.90 per cent to 23,163.10.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
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