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registered intermediaries. The above move is also expected to help investors identify, isolate and avoid unregistered entities with the latter not having access to this unique UPI handle. The market watchdog has proposed to increase the upper limit of capital market transactions made through UPI to Rs 5 lakh per day from the current Rs 2 lakh limit.

Nirmala Sitharaman presented the Economic Survey for FY25 ahead of the Union Budget for FY26. The benchmark BSE Sensex gained 740.76 points or 0.97% to close at 77,500.57, while the broader Nifty 50 index closed at 23,508.40, higher by 258.90 points or 1.11%.

capital on Friday, driven by robust domestic demand and strong global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity continued its ascent for the third straight session, jumping by Rs 1,100 to hit a new peak of Rs 84,900 per 10 grams. The yellow metal has rallied by Rs 5,510 or 7 per cent since January 1 when the metal traded at Rs 79,390 per 10 grams in the local market.

Personal tax is a key focus for most Indians when it comes to the Union Budget—especially for the urban middle class, as it directly impacts their finances. To break down the current demands and expectations, we spoke to Ishita Sengupta, Partner and India Leader at Vialto Partners. She shared insights on potential changes in capital gains tax, possible new introductions, and more. Excerpts:

The bearish pattern of lower tops and bottoms of the last month seems to have reversed, as Nifty closed above the recent lower top of 21st Jan at 23,426 levels. This is a bullish development and eventually, we could see the formation of bullish higher tops and bottoms. The underlying trend of Nifty remains strong. Having surpassed the hurdle of 23,500 levels, bulls could advance towards another resistance of 23,800 levels in a short period of time. Immediate support is at 23,400 levels, said Nagaraj Shetti.

stocks rallied as much as 15% in Mumbai trading on Friday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the green amid brisk buying in frontline bluechip counters. Stocks that surged in excess of 15% included, Gulshan Polyols(19.98%), Teesta Agro Industries Ltd.(19.97%), Sindhu Trade(16.08%) and SaskenTech(15.85%).

Shares of Punjab National Bank(up 4.85 per cent), IndusInd Bank Ltd.(up 3.57 per cent), IDFC First Bank Ltd.(up 3.36 per cent), Canara Bank(up 2.6 per cent) and State Bank of India(up 1.36 per cent) ended the day as top gainers in the pack.

Shares of LTIMindtree Ltd.(up 1.27 per cent), Infosys Ltd.(up 1.07 per cent), Wipro Ltd.(up 0.94 per cent), HCL Technologies Ltd.(up 0.73 per cent) and L&T Technology Services Ltd.(up 0.72 per cent) ended the day as top gainers in the pack.

Madhu Kela, Market Veteran, says turn market volatility into your ally. This year, returns are expected to be quite modest. To achieve those returns, you need to be highly skilled at spotting strong bottom-up investment ideas. Volatility can provide you with an advantage and opportunities, as stocks often don’t have time to recover. Many solid companies can see their prices drop by 40% or 50% in just a few trading sessions or within a month. Kela says in a bull market, one can make money even if you are not on the ball, which was the case for the last three years. In this kind of market, one has to be really on top of the game to be able to make money. This Budget, he will be looking at the commentary on the fiscal path beyond 2026 and the capex situation. What is the state of the market and what sort of return can be expected? Madhu Kela: In the last three-four years, phenomenal returns have been generated by individual investors and markets have been very kind. One thing which I have been consistently maintaining is not to extrapolate these returns even in your mind because you cannot just keep compounding at 30-35% year after year.

initial public offering (IPO) of leading eyecare service provider Dr. Agarwal's Healthcare received an overall subscription of 50% on Friday, its final bidding day. The offering includes a significant offer for sale (OFS) component of Rs 2,727 crore out of the total Rs 3,027 crore issue size. The retail portion, around 11:40 am, was subscribed 29%, while non-institutional investors subscribed 17%. Meanwhile, qualified institutional buyers (QIBs) subscribed 2.44 times the allocated portion.

Domestic benchmark index NSE Nifty gained 181.21 points to 23430.7, while the BSE Sensex traded 479.9 points up at 77239.71.

Indraprastha Gas Ltd (IGL) shares began trading on an ex-bonus basis, priced at Rs 199.20 as of 9:50 AM today. “This follows our previous letters dated December 10, 2024, and January 16, 2025, notifying shareholders of the approval for the issuance of bonus shares in a 1:1 ratio. We would like to inform that the Bonus Issue Committee has fixed Friday, January 31, 2025, as the 'Record Date' to determine shareholder eligibility for the bonus,” the company had announced in an earlier exchange filing.

The steelmaker's profit halved due to weak steel prices, exacerbated by cheaper imports into India, which weighed on earnings.

Macrotech Developers Ltd.(up 4.74 per cent), Oberoi Realty Ltd.(up 4.24 per cent), Godrej Properties Ltd.(up 2.33 per cent), Brigade Enterprises Ltd.(up 1.45 per cent) and Sobha Ltd.(up 1.35 per cent) were among the top gainers.

Wipro Ltd.(up 1.36 per cent), Infosys Ltd.(up 1.27 per cent), Tech Mahindra Ltd.(up 0.96 per cent), HCL Technologies Ltd.(up 0.54 per cent) and Persistent Systems Ltd.(up 0.42 per cent) were among the top gainers.

Shree Cement shares will be in focus on Friday, January 31, after the company reported a 69% year-on-year decline in net profit to Rs 229 crore for the December quarter, impacted by lower revenue from operations. While power and fuel costs fell over 27% YoY, weak cement prices offset the gains. The company, India’s third-largest cement producer, sold 8.77 million tonnes during the quarter, slightly lower than 8.89 million tonnes a year ago. Net revenue from operations dropped 13% to Rs 4,235 crore, while EBITDA declined 23% to Rs 947 crore from Rs 1,234 crore in the same period last year.

The Nifty futures closed positive with gains of 0.44%, reaching 23,249 levels on Thursday. India VIX fell more than 6% to close at 17.39 in the previous trading session.

Centrum Broking has a buy call on Emami with a target price of Rs 720. The current market price of Emami is Rs 571. Emami., incorporated in 1983, is a Mid Cap company with a market cap of Rs 25015.82 crore, operating in the FMCG sector. Emami's key products/revenue segments include Personal Care and Other Operating Revenue for the year ending 31-Mar-2024.

“Budget 2025 is expected to focus on priming the economy with GDP growth estimated at 6.5-6.8% in FY26,” says Amisha Vora, Chairperson and Managing Director PL Capital — Prabhudas Lilladher. In an interview with ETMarkets, Vora said: “Prioritizing sectors like railways, renewable energy, and logistics, defence, ports, infra, data centre, etc. while balancing fiscal discipline, could really accelerate economic momentum,” Edited excerpts: Thanks for taking the time out. The month of January started on a roller coaster note ahead of the big domestic event – Union Budget 2025. Do you see some recovery in the market post the event?

“India is at an inflection point in terms of per capita income, demography and manufacturing renaissance. This coupled with the 25-year vision of evolving into a developed economy makes the budget more a statement of intent,” says Jiten Doshi, Co-Founder and Chief Investment Officer Enam AMC. In an interview with ETMarkets, Doshi said: “Markets will particularly scrutinize the quality of spending and revenue assumptions to gauge the government's commitment to fiscal consolidation during this political transition,” Edited excerpts: The month of January started on a roller coaster note ahead of the big domestic event – Union Budget 2025. Do you see some recovery in the market post the event? (we are down over 10% from highs) We have witnessed among the fiercest, longest and broadest market move, since the 2020 pandemic. The roller coaster has navigated uncertainties of pandemic, wars, and sharp supply shocks.

Bankers and brokers said a chunk of these shares could flood the market as various investors would look to book profits with the stock market precariously perched.