Image Source : INDIA TV Stock market update for January 31.
Stock markets update: The stock market started on a positive note in early trade ahead of the Union Budget 2025, scheduled to be presented on February 1 by Finance Minister Nirmala Sitharaman. On Friday, the equity benchmark indices opened in green in early trade amid strong positive cues and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex gained 153.80 points to 76,913.62. Meanwhile, the Nifty was also up by 64.40 points to 23,313.90.
Top gainers and losers
Among the top gainers in early trading were Tata Consumer, Titan Company, Bharat Electronics, and Maruti Suzuki. On the flip side, Bharti Airtel, Coal India, NTPC, Adani Enterprises, and Bajaj Finserv were the top losers, seeing a dip in their stock prices.
With strong momentum in the broader market, traders are looking ahead to the upcoming Union Budget, with expectations that it could further fuel the market’s upward trajectory.
Rupee against dollar
Meanwhile, the rupee traded in a narrow range and depreciated 3 paise to 86.65 against the US dollar in early trade on Friday, ahead of the release of Economic Survey 2024-25. Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and the broad strength of the American currency in the overseas markets due to unabated dollar demand from oil importers and weak risk appetite. At the interbank foreign exchange, the rupee opened at 86.63 then fell further to 86.65 against the American currency, registering a decline of 3 paise over its previous close.
(With PTI inputs)
