Indian Market's Winning Streak Continues: Sensex and Nifty Soar

A Third Day of Gains

India's benchmark indices, Sensex and Nifty, extended their rally for the third consecutive day on Thursday, January 30, 2025, fueled by strong performance in heavyweight stocks like Reliance Industries, Bharti Airtel, and HDFC Bank.

In a volatile trading session, the 30-share Sensex climbed 226.85 points (0.30%) to close at 76,759.81, after reaching an intraday high of 76,962.88. The NSE Nifty also showed positive momentum, rising 86.40 points (0.37%) to finish at 23,249.50.

Heavyweights Drive Market Upward

Among the top gainers in the Sensex pack were Bharti Airtel, Power Grid, Bajaj Finance, Nestle, Mahindra & Mahindra, Reliance Industries, Asian Paints, IndusInd Bank, Hindustan Unilever, and HDFC Bank. These industry giants contributed significantly to the overall market upswing.

Tata Motors Stumbles After Earnings Report

While the market celebrated gains, Tata Motors experienced a setback, plummeting over 7% following the release of its December quarter results, which revealed a 22% drop in consolidated net profit. Other laggards included ITC Hotels, Bajaj Finserv, Adani Ports, Tech Mahindra, Zomato, and Kotak Mahindra Bank.

Expert Analysis: Optimism Amidst Volatility

Despite the fluctuating nature of the market, the closing figures paint a positive picture. Vinod Nair, Head of Research at Geojit Financial Services, offered his insights:

“The Indian markets concluded on a positive note despite fluctuating between gains and losses. The fall in oil prices due to a rise in US inventories and an ease in US 10-year yield after the US Fed’s hawkish view may decelerate FIIs outflow. The upcoming budget may be seen as an inflection point, which is likely to reverse the current bearish trend if the policies restore growth and consumption.”