Sensex, Nifty extend gains for 3rd day as economic survey boosts investor sentiment

Mumbai, Jan 29 (IANS) Indian equity markets ended higher for the third straight session on Thursday, overcoming early volatility as investor sentiment improved after the release of the annual Economic Survey.

The survey’s positive outlook on economic growth and fiscal discipline helped markets recover from a cautious start and close in the green.

The Economic Survey projected India’s GDP growth to be in the range of 6.8 to 7.2 per cent in the 2026–27 financial year.

It also said the country is on track to meet its fiscal deficit target of 4.4 per cent in FY26, which boosted confidence among investors.

At the close of trade, the Nifty index rose 0.3 per cent, or 76.15 points, to settle at 25,418.90. The Sensex also gained 0.27 per cent, adding 221.6 points to end at 82,566.37.

“A sustained breakout above this band could open the path toward 25,600–25,800 in the near term,” an analyst stated.

“On the downside, 25,300 is the immediate support, followed by a strong demand zone at 25,160–25,200,” an expert stated.

Gains were led by metal and infrastructure-related stocks. Tata Steel, L&T, Axis Bank, Eternal and NTPC were among the top performers on the Sensex, rising by as much as 4.5 per cent.

On the other hand, Asian Paints, IndiGo, Maruti Suzuki, TCS and BEL ended lower and were the biggest laggards of the session.

The broader market also showed strength, with the Nifty Midcap 100 and Nifty Smallcap 100 indices ending higher by 0.18 per cent and 0.20 per cent, respectively.

Among sectoral indices, the Nifty Metal index was the standout performer, jumping more than 3 per cent.

In contrast, the Nifty Healthcare index closed as the top loser of the day, followed by declines in the Nifty FMCG, Nifty Chemicals and Nifty Pharma indices.

Analysts said that markets managed to extend their winning streak as optimism around India’s growth outlook and fiscal position outweighed concerns from early-session volatility.

Meanwhile, Rupee traded flat to weak near 91.94, down 0.12, as markets remain cautious ahead of the Union Budget.

--IANS