Ahead of the Union Budget 2025, Nifty and Sensex led a recovery rally after what has been three months of volatile fluctuations due to the changing global climate.
In Friday morning trade, Nifty inched 0.63 per cent higher while Sensex gained by 0.53 per cent.
Larsen & Toubro (L&T) led the charge, jumping almost 5 per cent after it posted a 14 per cent rise in consolidated post-tax profit for the December quarter. The company saw its ops revenue soar 17 per cent to Rs 64,668 crore for the three-month period.
Other major gainers included Titan, Maruti Suzuki, Adani Ports, Nestle and Power Grid. Bajaj Finserv and Bajaj Finance shaved off their Thursday gains, joining market laggards ITC Hotels and Bharti Airtel.
V.K. Vijayakumar of Geojit Financial Services said he expects a post-budget rally. "Since we are going into the Budget without a pre-budget rally, the probability of a rally, post-budget, will be high if the Budget delivers on growth-stimulating initiatives like cuts in personal income tax," he pointed out.
The buzz surrounding the Union Budget is expected to influence the market on Friday, Vijayakumar added.
Finance minister Nirmala Sitharaman would be tabling the Economic Survey 2024-2025 on Friday. This serves as an official assessment of economic performance in the current fiscal year.
On Saturday, February 1, the finance minister would present the Union Budget to the house.
