Stock market today: The benchmark indices Sensex and Nifty continued their upward trend for the third consecutive day on Thursday, driven by strong performance in major stocks like Reliance Industries, Bharti Airtel and HDFC Bank. The Sensex gained 226.85 points (0.30 per cent) to close at 76,759.81 after experiencing volatility. During trading, it reached a high of 76,962.88, up by 429.92 points (0.56 per cent).
The NSE Nifty increased by 86.40 points (0.37 per cent) to reach 23,249.50.
Among the top 30 companies, significant gains were recorded by Bharti Airtel, Power Grid, Bajaj Finance, Nestle, Mahindra & Mahindra, Reliance Industries, Asian Paints, IndusInd Bank, Hindustan Unilever and HDFC Bank.
Bajaj Finance showed strong performance with a nearly 2 per cent increase following their announcement of an 18 per cent rise in consolidated net profit, reaching Rs 4,308 crore for the December quarter.
Tata Motors experienced a significant decline of over 7 per cent after reporting a 22 per cent reduction in consolidated net profit to Rs 5,578 crore for the quarter ending December 2024, affected by decreased revenue from passenger and commercial vehicles segments.
Other underperforming stocks included ITC Hotels, Bajaj Finserv, Adani Ports, Tech Mahindra, Zomato and Kotak Mahindra Bank.
"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," Vinod Nair, Head of Research, Geojit Financial Services, said.
In Asian markets, Tokyo showed positive results while Seoul, Shanghai and Hong Kong remained closed for holidays. European markets demonstrated upward movement. US markets closed lower on Wednesday.
Foreign Institutional Investors (FIIs) sold equities worth Rs 2,586.43 crore on Wednesday, according to exchange data.
The global oil benchmark Brent crude decreased by 0.43 per cent to USD 76.25 per barrel.
"Indian markets are currently experiencing heightened volatility due to sluggish economic growth and uncertainty surrounding Trump's policies and tariffs. With the monthly expiry of major indices today and the Union Budget scheduled for February 1st, investor sentiment is closely tied to upcoming economic measures.
"The interplay between global factors and domestic policies is adding to the complexity, making this a crucial period for market participants," Vikas Gupta, CEO and Chief Investment Strategist, OmniScience Capital, said.
The BSE benchmark increased by 631.55 points (0.83 per cent) to finish at 76,532.96 on Wednesday, whilst the Nifty rose by 205.85 points (0.90 per cent) to 23,163.10.
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Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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