Indian Market Extends Winning Streak, Sensex & Nifty Soar

Market Rally Continues for Third Day

India's benchmark indices, Sensex and Nifty, continued their upward trajectory for the third consecutive day on Thursday, January 30, 2025. This positive momentum was fueled by strong buying activity in heavyweight stocks such as Reliance Industries, Bharti Airtel, and HDFC Bank.

The 30-share Sensex navigated a volatile trading session, ultimately closing with a gain of 226.85 points (0.30%), reaching 76,759.81. It even touched a high of 76,962.88 during the day, demonstrating significant buying interest. The Nifty also saw a robust performance, rising by 86.40 points (0.37%) to finish at 23,249.50.

Key Performers and Laggards

Several prominent stocks contributed to the market's positive performance. Among the top gainers in the Sensex were Bharti Airtel, Power Grid, Bajaj Finance, Nestle, Mahindra & Mahindra, Reliance Industries, Asian Paints, IndusInd Bank, Hindustan Unilever, and HDFC Bank.

However, not all stocks enjoyed the same success. Tata Motors experienced a significant decline, plummeting over 7% after reporting a 22% drop in consolidated net profit for the December quarter. Other laggards included ITC Hotels, Bajaj Finserv, Adani Ports, Tech Mahindra, Zomato, and Kotak Mahindra Bank.

Expert Analysis on Market Trends

Vinod Nair, Head of Research at Geojit Financial Services, offered insights into the market's performance: "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 FIIs outflow."

He further commented on the upcoming budget, suggesting it could be a turning point: "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.”