Stock Market Today: Nifty, Sensex Clock Longest Monthly Losing Streak Since 2001
The Nifty 50 and Sensex ended 1.11% and 0.97% higher, respectively.
KEY HIGHLIGHTS
US Futures Rise Before PCE Data
3:30 p.m., the Dow Jones Industrial Average and S&P Futures rose 0.28% and 0.42%, respectively. The Nasdaq futures rose 0.73%.
Nifty, Sensex Register Longest Monthly Losing Streak In 24 Years
The Indian equity benchmark indices closed higher four days in a row, but extended its monthly losing streak.
The NSE Nifty 50 ended 260.05 points, or 1.12% up at 23,509.55, and the 30-stock BSE Sensex ended 740.76 points, or 0.97% higher at 77,500.57.
The NSE Nifty Bank also closed higher at 49587.20. The index ended 0.56% up at 275.25. The stock market will remain open on Feb. 1, on account of the Budget 2025 that is set to take place.
"The last day of the month belongs to the Bulls as from the beginning itself, the Index progressed towards the north and at regular intervals compounded its gains to close at 23,508.40 with gains of 258.90 points. All the sectors ended in green with Energy and FMCG being the major outperformers. Mid and Smallcap space advanced by 1.89% & 2.11% and outshined the Frontline Index," said Aditya Gaggar Director of Progressive Shares.
With a strong bullish candle, the Index has confirmed its Falling Wedge Formation breakout but with the Union Budget announcement tomorrow, there could be high volatility. The undertone will remain positive with the downside being protected at 23,400 while on the higher side, 23,740-23,860 will be considered as a strong resistance zone, he added.
Shares of L&T, ITC, RIL, Infosys and HDFC Bank. contributed positively to changes in the Nifty 50.
While those of Bharti, ICICI Bank, JSW Steel, Bajaj Finserve and Bajaj Finance weighed the index.
All twelve of the 12 sectors ended in green, with Nifty Energy, FMCG, Realty, Oil & Gas and Auto gaining the most.
On the weekly sectoral trends, Nifty Realty, Auto, Finance, PSU Bank and Nifty Bank made the most gains. Nifty Media, Pharma and IT dragged the most.
Market breadth was skewed in the favour of buyers. As many as 2,741 stocks rose, 1,182 fell, and 124 remained unchanged on the BSE.
Broader indices outperformed. Both BSE Midcap and BSE Smallcap closed 0.8% up.
Economic Data Releases And Events For Jan 31
US: Core PCE Index — 7:00 p.m.
US: Employment Cost Index — 7:00 p.m.
US: Federal Reserve Governor Michelle Bowman will speak at the Northern New England CEO Summit, in New Hampshire — 7:00 p.m.
US: Personal Income & Spending — 7:00 p.m.
US: Chicago PMI — 8:15 p.m.
Market At Close
The NSE Nifty 50 and BSE Sensex rose for fourth day in a row.
The Nifty 50 and Sensex ended 1.11% and 0.97% higher, respectively.
The Nifty 50 and Sensex snapped a three-week declining streak.
The NSE Nifty Energy rose the most, while the NSE Nifty Pharma declined the most.
The NSE Nifty Midcap 150 ended 1.73% higher.
The NSE Nifty Smallcap 250 ended 1.70% higher.
Stock Market Live Updates: UPL Share Price Jumps Over 7% As Company Moves To Profit
UPL Ltd. share price jumped over 7% after the company reported net profit of Rs 828 crore against a loss of Rs 1,127 crore in the corresponding period of previous financial year.
For detail update on UPL earnings click here.
