Markets extend gains on expiry day, Union Budget takes center stage

The Sensex and Nifty extended their winning run to a third straight session on Thursday, buoyed by buying in financial and oil & gas stocks, though IT and auto counters weighed on gains.Following the Federal Reserve’s decision, attention has now shifted to the Union Budget 2025, which is likely to play a crucial role in shaping investor confidence. At close, the Sensex was up 226.85 points or 0.30 percent at 76,759.81, and the Nifty was up 86.40 points or 0.37 percent at 23,249.50. About 2,051 shares advanced, 1,734 shares declined, and 117 shares were unchanged. The indices are down about 11 percent each from their record highs on September 27, 2024, according to information.
Bharat Electronic, Cipla, Hero MotoCorp, Power Grid, and Bharti Airtel were the top gainers on the Nifty rising 2-4 percent while losers included Tata Motors, Adani Enterprises, Shriram Finance, Bajaj Finserv, and Adani Ports, falling 1-7 percent.
On the sectoral front, auto, IT, media, consumer durables shed between 0.4-2 percent, while oil & gas, power, pharma, energy, PSU, FMCG, realty rose 0.5-1 percent.BSE Midcap and smallcap indices ended flat.
Rupee Close:
On 30 Jan'25,the Indian rupee depreciated nine paise to close at 86.64 against the US dollar on Thursday, weighed down by a strong US dollar amid a hawkish tone of the US Federal Reserve.Forex traders reportedly stated the rupee continued to face pressure due to sustained foreign fund outflows and the broad strength of the American currency in the overseas markets.
Trading Guide:
Vinod Nair, Head of Research at Geojit Financial Services, reportedly quoted as saying the Indian market closed positive despite volatility. He stated that falling oil prices and easing U.S. 10-year yields after the Fed’s hawkish stance could slow FII outflows.
Market experts have recommended five intraday stocks —Reliance Power, Dhani Services, Gateway Distriparks, Shree Renuka Sugars, and HFCL.

( Business Correspondent)