Latest Stock Market News

On January 30, three Nifty500 stocks closed over 1.5% above VWAP, signaling a potential bullish trend. This suggests strong buying interest and positive market sentiment.

Indian benchmark indices, Sensex and Nifty50, opened higher for the fourth consecutive day, driven by gains in L&T and IT stocks. Investors are optimistic about positive triggers from the upcoming Union Budget. Despite these gains, both indices remain down about 11% from their record highs in September 2024.

Gold April futures hit a record high of Rs 82,357/10g on MCX amid safe-haven buying due to US tariff concerns. Silver also surged, nearing an 8-week high. Weak US economic data and ECB rate cuts supported prices. Analysts expect volatility ahead of US core PCE data. Gold and silver remain strong amid global financial market fluctuations.

Kalyan Jewellers shares rose 7.65% after reporting a 44% YoY growth in profit after tax (PAT) for Q3 FY25, reaching Rs 219 crore. Revenue grew 40% to Rs 7,287 crore. The company’s India operations saw strong PAT growth, while Middle East performance was slightly impacted by new taxes. E-commerce division Candere posted increased revenue but incurred a larger loss.

Sensex and Nifty, currently experiencing a four-month negative run, have historically shown strong rebounds post-Budget when preceding expectations were low. With low market expectations for the upcoming budget, chances of a positive turn are high, especially in agriculture and infrastructure sectors.

The Nifty Auto index was trading 1.23 per cent up at 22771.75.

HDFC Securities has issued a sell recommendation for Balkrishna Industries with a revised target price of Rs 2092. Despite strong volume growth in Q3FY25 and better-than-expected EBITDA margins, uncertainties persist due to higher raw material and freight costs. The brokerage maintains a cautious outlook, valuing the company at 19x Dec-26 EPS.

Motilal Oswal has given a neutral rating to InterGlobe Aviation with a target price of Rs 4535. InterGlobe, operating in the airlines sector, showed a significant growth in income and reported a net profit of Rs 2448.80 crore for the quarter ending 31-12-2024. The company is expanding its international presence and strategic partnerships.

Sandip Sabharwal highlights that for foreign investor flows to return to Indian equities, the US dollar rally must stop and Indian economic growth must revive. He suggests the Budget could include measures like tax cuts and increased capital expenditure. He also notes mixed earnings reports and the potential challenges real estate and consumer durable sectors may face.