Sensex, Nifty surge as markets cheer Economic Survey ahead of Budget

Mumbai: The Indian stock market on Friday continued its rise for the fourth straight day as Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-25 in Parliament ahead of the Union Budget 2025-26.

The Economic Survey pegs India’s GDP growth at 6.3-6.8 per cent for 2025-26.

The BSE Sensex touched an intra-day high of 77,549.92 before closing at 77,500.57 by gaining 740.76 points or 0.97 per cent. The NSE Nifty ended 258.90 points, or 1.11 per cent, higher at 23,508.40. The index moved between 23,530.70 and 23,277.40 during the day.

The week concludes on a mixed note — heavy selling at the start, a brief recovery, and now a wait-and-watch approach ahead of the budget, market experts said.

Only four stocks on the 30-share BSE Sensex traded lower — ITC Hotels which was down by 4.24 per cent, Bharti Airtel, ICICI Bank, and TCS.

Meanwhile, the top gainers on Sensex were Adani Ports & SEZ, Titan, Mahindra & Mahindra, IndusInd Bank and others.

On Nifty, 45 out of 50 stocks ended in the green, and the biggest gainers were Trent, BEL, Tata Consumer Products, Titan and more.

However, the top losers include Bharti Airtel, ITC Hotels, Kotak Mahindra Bank, and others.

Consumer durables was the top-performing sector rising 2.09 per cent, followed by auto, realty, oil, and FMCG indices which were up over 1 per cent each.

However, IT, Metal, and Media stocks were also trading higher and the Nifty Bank index was flat.

In the broader market, the BSE Midcap was up 1.14 per cent, while the BSE Smallcap gained 1.24 per cent.

On the NSE, 1,933 stocks advanced, while 636 stocks declined during the trading session. Additionally, 18 stocks hit their 52-week highs, while 46 stocks touched 52-week lows.

The Economic Survey 2024-25 pegs India’s GDP growth at 6.3-6.8 per cent for 2025-26.

According to the survey, the Modi 3.0 govt will continue its emphasis on micro, small, and medium enterprises (MSMEs) and good rabi crop production to accelerate growth and employment in the economy.

IANS