Stock market closes high extending rebound for 3rd consecutive session
At close, the Sensex gained 0.3 per cent (226.85 points) to 76,759.81, while the Nifty rose 0.3 per cent (86.4 points) to 23,249.5.
Stock market closed higher on Friday, a day before the announcement of Budget, for the fourth consecutive session.
At the close of trading, Sensex rose by 0.97 per cent, ending at 77,500 points, while the Nifty gained 1.11 per cent, closing at 23,508.4 points. Notably, over the past four sessions, both indices have surged by about 3 per cent.
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Among the sectors, consumption stocks rallied sharply in trade ahead of the presentation of the Union Budget. Nifty FMCG jumped 2 per cent, while the durables index Nifty Consumer Durables was higher by around 2.3 per cent.
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On the Nifty FMCG, the top gainers were Tata Consumer Products and Nestle India. Shares of infrastructure sector bellwether Larsen & Toubro rose over 4 per cent after its orders reached an all-time high.
Among others, Nifty Auto, PSU Bank, Realty, Metal, OMCs, and select Financial Services indices ended higher by over 1 per cent each.
Broader markets outperformed the benchmarks with Nifty Midcap100 and Nifty Smallcap100 indices ending higher 1.89 per cent, and 2.11 per cent, respectively.
Shares of defence companies such as Hindustan Aeronautics, Bharat Electronics, Bharat Dynamics, Data Patterns, and Paras Defence surged by 3-5 per cent.
Kalyan Jewellers stock rose by as much as 14 per cent following the announcement of the company’s Q3FY25 results.
Gail’s stock price climbed over 6 per cent after the company reported a 28 per cent increase in its consolidated net profit for Q3FY25.
Shares of Whirlpool of India continued their losing streak, extending to the fifth consecutive session with a 33 per cent decline in value.
Banking major Shares of Bank of Baroda saw a 4 per cent decline on January 31, following its earnings announcement for the quarter ending December 31, 2024.
Union Budget 2025 is due around 11 am on Saturday, and is expected to include steps to boost growth while adhering to fiscal discipline.
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