Ahead of Market: 10 things that will decide stock market action on Saturday
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%.
Here's how analysts read the market pulse:
The indices are fueled with expectations of a pro-growth budget and prudent fiscal as indicated in the economic survey, said Vinod Nair, Head of Research at Geojit Financial Services, adding that positive global cues and better-than-expected results from major companies have also contributed to the upward trend.
“The market expects reductions in individual tax and job generation to boost consumption. By cutting the fiscal deficit but continuing to boost infrastructure spending, the government may set the tone for a potential recovery in the consolidating market," added Nair.
US markets
Wall Street stocks climbed early Friday as investors digested mixed US inflation data and Apple's strong earnings, which boosted the tech giant’s shares. The personal consumption expenditures (PCE) price index rose 2.6% in December, up from 2.4% in November but aligning with analyst expectations.
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