Market Overview:

Indian equity markets continued their upward momentum, closing higher for the third consecutive session as investors displayed optimism ahead of the Union Budget 2025. Broader indices outperformed, reflecting strong buying interest across midcap and smallcap stocks.

• Sensex: +0.97% at 77,500.57

• Nifty 50: +1.11% at 23,508.40

• Nifty Midcap 150: +1.73% at 19,850.95

• Nifty Smallcap 250: +1.70% at 15,851.05

Volatility eased further, with the India VIX dropping 6.56% to 16.25, indicating improved market sentiment.

Sectoral Performance:

Top-performing sectors included:

• Nifty Consumer Durables: +2.44%

• Nifty FMCG: +2.04%

• Nifty Realty: +1.94%

Lagging sectors were:

• Nifty Financial Services: +0.38%

• Nifty Healthcare: +0.18%

• Nifty Pharma: +0.09%

Key Stock Movers:

Top Gainers:

• Kalyan Jewellers: +14.17% at ₹503

• Jupiter Wagons: +12.61% at ₹400

Top Loser:

• Whirlpool of India: -9.60% at ₹1,139

Notable Updates:

• Ola Electric (OLAELEC): +11.99% at ₹74.80, after launching its Gen 3 S1 scooters, with deliveries starting mid-February.

• Premier Explosives (PREMEXPLN): +7.47% at ₹459.75, boosted by a ₹26.40 crore order from BrahMos Aerospace.

• Texmaco Rail (TEXRAIL): +5.76% at ₹196.58, as the company approved transferring its Infra-Rail division to a subsidiary.

• Hind Rectifiers (HIRECT): +5.00% at ₹1,228.30, following the announcement of a subsidiary focused on IT, AI, and Web3 technologies.

• Jindal Steel (JINDALSTEL): -5.77% at ₹791.55, reporting a 51% YoY profit drop and flat revenues.

Nifty 50 Movers:

Top Gainers:

• Tata Consumer Products: +6.24%

• Bharat Electronics (BEL): +5.47%

• Trent Ltd: +4.61%

Top Losers:

• Bharti Airtel: -0.82%

• Indian Hotels Company: -0.77%

• JSW Steel: -0.65%

The overall market breadth remained strongly positive, with 2,130 stocks advancing versus 711 stocks declining, reflecting broad-based bullish sentiment.

Upcoming Events:

1st Feb:

• Union & Railway Budget 2025 presentation.

• Implementation of new F&O rules.

• Release of January auto sales data (expected to be weak).

5th Feb:

• Delhi Elections 2025 voting.

7th Feb:

• RBI Monetary Policy Committee (MPC) meeting.

8th Feb:

• Delhi Election Results 2025.

Market Outlook:

The pre-budget rally has extended its gains, with sectors like Infrastructure, Railways, Fertilizers, and Capital Goods poised to benefit from budgetary announcements. However, caution is advised as global events, including Trump tariffs on Canada, Mexico, and China, and the RBI MPC decision, may influence market dynamics in the coming days.

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