On January 31, 2025, India's stock markets, led by the Nifty 50 and Sensex, are poised for a positive opening as investor optimism builds ahead of the upcoming Union Budget on February 1. The Gift Nifty is trading at 23,438, reflecting a premium of nearly 20 points over the previous Nifty futures close.
In the previous session, the Sensex rose by 226.85 points (0.30%) to close at 76,759.81, while the Nifty 50 gained 86.40 points (0.37%) to end at 23,249.50. Analysts indicate that the Nifty 50 is facing resistance between 23,350 and 23,450, with immediate support at 23,100.
As the Economic Survey 2024-25 is set to be released today, it is expected to outline key trends and policy measures that could influence market dynamics. The financial and real estate sectors have shown significant gains, with the financial sector up 3.4% and real estate up 7% in anticipation of favorable budgetary measures.
Despite the positive momentum, the markets are still 11% below their September 2024 highs, and investors are advised to remain cautious due to ongoing foreign outflows, which totaled $8.8 billion in January. The broader implications of the budget may also affect international trade dynamics amid uncertainties in U.S. policies.
Overall, today's trading session is critical as it shapes investor sentiment and market trends leading into the budget announcement.