Sensex, Nifty rise as markets bet on Budget 2025 for growth push; L&T up 5%
Benchmark stock market indices opened on a positive note on Friday, a day before Budget 2025, helped by a rise in auto and IT sector stocks in early trade.
The S&P BSE Sensex was up 161.56 points to 76,921.37, while the NSE Nifty added 64.60 points to 23,314.10 as of 9:25 AM.
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said that the Budget – expectations and actuals – will influence the market today and tomorrow.
“Since we are going into the Budget without a pre-Budget rally, the probability of a rally, post Budget, will be high if the Budget delivers on growth stimulating initiatives like cuts in personal income tax. But it is important to understand that the impact of the Budget will last only for a few days, at best. The medium to long-term trend of the market will be dictated by GDP and earnings growth. Therefore, investors should look for cues on these crucial macro trends,” he added.
Market is strongly reacting to results with good results being rewarded and poor results getting punished. This has spiked the market volatility. Fairly-valued high quality largecap financials continue to be a safe sector for investors.