The Indian stock markets extended their rally for the second consecutive session on January 29, 2025, with the BSE Sensex soaring 631 points (0.83%) to close at 76,532.96 and the Nifty 50 climbing 205.85 points (0.90%) to settle at 23,163.10. The day saw broad-based buying, particularly in banking, IT, and midcap stocks, propelling the indices higher.
The broader markets saw strong outperformance, with the Nifty Midcap 100 rising 2.31%, while the Nifty Smallcap 100 surged 3.32%, reflecting renewed investor interest in smaller stocks.
Among sectoral indices, IT, auto, and financial services led the gains, with major stocks like Tata Motors, SBI Life, and Trent closing higher by nearly 4%. On the downside, Bharti Airtel, ITC Hotels, and Maruti Suzuki saw some profit booking.
Investor sentiment was boosted by a drop in crude oil prices, easing concerns over inflation and input costs. Additionally, strong corporate earnings and hopes of policy support in the upcoming Union Budget 2025 further fueled optimism in the market.
With this rally, market participants remain cautiously optimistic, focusing on global cues, upcoming economic data, and corporate results for further direction.
