Stock Market LIVE Updates: Sensex and Nifty Gain as Realty, Power, and Defence Stocks Shine
The Indian stock market opened on a positive note on February 1, 2025, with Sensex climbing 200 points and Nifty trading at 23,550. Investors are closely tracking sectoral movements and corporate earnings while keeping an eye on Union Budget 2025 developments.
Market Overview
Sensex: Up by 176.05 points, trading at 77,676.62 (+0.23%)
Nifty 50: Gains 45.10 points, reaching 23,553.50 (+0.19%)
Nifty Bank: Climbs 138.55 points to 49,725.75 (+0.28%)
Sectoral Performance
Most sectors are trading in the green, except for IT and Oil & Gas. Key gainers include:
Power, Realty, Consumer Durables, and FMCG: Up by 0.5% - 1%
Best Performing Sector: Nifty Midcap 100 (+0.72%)
Worst Performing Sector: Nifty IT (-0.22%)
Top Gainers and Losers
Biggest Gainer: IndusInd Bank (+2.74%) at Rs 1,018.40
Biggest Loser: Hero MotoCorp (-1.36%) at Rs 4,280.00
Key Corporate Updates
Hero MotoCorp shares decline after CEO Niranjan Gupta resigns; Vikram Kasbekar appointed as acting CEO.
Pfizer Q3 earnings: Profit falls by 1.8% to Rs 127.6 crore, revenue declines by 0.4%.
Triveni Turbine reports strong Q3: Profit surges 35.5%, revenue up 16%.
Sheela Foam Q3 results: Profit down 39%, revenue rises by 10%.
Aster DM Healthcare Q3 earnings: Profit drops by 68.3%, revenue increases by 10%.
Budget Impact on Stocks
Investors are closely monitoring the Union Budget 2025, which could impact key sectors like infrastructure, power, defence, and renewable energy.
Cigarette taxes might see a hike, and budgetary allocations for schemes like PM Awas Yojana are expected to increase.
Major Developments
Tata Power signs MoU with Rajasthan's power distribution companies to boost rooftop solar adoption.
Jefferies maintains a ‘buy’ rating on ONGC with a target price of Rs 375, citing stable domestic production and EBITDA performance.
Aarti Industries, G R Infraprojects, and Vinati Organics to declare Q3 earnings today.
Market Outlook
With strong investor sentiment, a stable economic outlook, and sectoral growth, the markets are expected to remain volatile yet optimistic as key budget announcements unfold. Traders and investors should stay alert to further policy changes and economic updates.
Stay tuned for more stock market insights and budget-related news!