Markets trade higher in early trade driven by surge in L&T, rally in U.S. equities
The Hindu
Sensex and Nifty surge ahead of Union Budget, led by Larsen & Toubro gains and positive global cues.
Benchmark indices Sensex and Nifty rallied in early trade on Friday (January 31, 2025) helped by buying in Larsen & Toubro post its earnings announcement and a firm trend in the U.S. markets.
The 30-share BSE benchmark Sensex rallied 188.11 points to 76,947.92 in early trade, a day before the Union Budget. The NSE Nifty climbed 68.6 points to 23,318.10.
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From the 30-share blue-chip pack, Larsen & Toubro climbed over 3% after the infrastructure and engineering major reported a 14% rise in consolidated profit after tax to ₹3,359 crore for the December quarter on the back of higher revenue from operations.
Titan, Maruti, Adani Ports, Nestle and Power Grid were the other major gainers.
ITC Hotels, Bharti Airtel, Bajaj Finserv and Bajaj Finance were among the laggards.
“The Budget - expectations and actuals - will influence the market today and tomorrow. Since we are going into the Budget without a pre-Budget rally, the probability of a rally, post Budget, will be high if the Budget delivers on growth stimulating initiatives like cuts in personal income tax.
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