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India's Economy Surges Ahead Amidst Global Tensions
30 Jan
Summary
- Sensex and Nifty 50 extended gains for a third consecutive session.
- Economic Survey projected a strong Indian economy despite global challenges.
- Market sentiment remained cautiously optimistic ahead of the Budget.
India's key stock market indices, the Sensex and Nifty 50, concluded January 29 with gains for the third consecutive trading day. This positive momentum was largely attributed to the Economic Survey 2026, which projected sustained economic strength for India despite prevailing geopolitical challenges.
The Sensex recorded a jump of 222 points, settling at 82,566.37, while the Nifty 50 saw a rise of 76 points to close at 25,418.90. Over these three sessions, the Sensex has advanced by nearly 1.3%, and the Nifty 50 by 1.5%.
Analysts noted that domestic markets staged a strong rebound, bolstered by an optimistic economic survey that reinforced a solid growth outlook for FY27 and a well-managed inflation scenario amidst global uncertainties. However, elevated bullion and crude oil prices, influenced by escalating U.S.-Iran tensions, exerted some pressure on overall risk sentiment.
Sectoral performance was mixed, with Nifty Bank showing a notable increase of 0.60%. Conversely, healthcare, FMCG, pharma, PSU Bank, IT, and Auto sectors registered declines. Looking ahead, analysts suggest that 25,500 will be a critical resistance level for the Nifty 50, with support at 25,200. Given that the next day is the final trading session before the Budget, relatively stable market movements are anticipated.
