Wed Jan 29 07:00:37 UTC 2025: ## Indian Stock Market Sees Positive Opening, New Index Funds Launched

**Mumbai, January 29, 2025** – Indian benchmark indices opened higher on Wednesday, January 29th, 2025, driven by positive global cues ahead of the US Federal Reserve’s interest rate decision. The Sensex opened at 76,138.24, rising to 76,169.38 (+0.35%), while the Nifty climbed to 23,040.10 (+0.36%). Technology and auto stocks led the gains, while FMCG counters experienced selling pressure. This positive start follows a day of mixed results from Indian companies’ Q3 earnings announcements.

UTI Mutual Fund added to the day’s activity by launching two new index funds: the UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund, a unique multi-cap, multi-factor offering, and the UTI Nifty India Manufacturing Index Fund. Both funds will track their respective Nifty indices and are open for subscriptions from January 28th to February 10th, 2025.

The Multi Commodity Exchange of India (MCX) announced a special Saturday trading session on February 1st, 2025, to accommodate market participants’ needs during the Union Budget presentation.

Several companies reported quarterly results. Home First, Dynamic Cables, and Aurionpro Solutions all reported strong year-on-year and quarter-on-quarter growth in sales and net profit. Conversely, Bajaj Auto’s Q3 net profit slightly missed analyst estimates. Suzlon Energy saw a significant jump in consolidated net profit.

In acquisition news, an unnamed company secured a ₹121 crore contract for wastewater treatment in Bahrain and acquired Monga Strayfield for ₹123 crore to expand its RF drying and heating solutions business.

ITC Hotels made its stock market debut at ₹180 on the NSE, but the price dropped to ₹175.60 by 11:05 AM. Crude oil futures traded lower, influenced by an increase in US inventories reported by the American Petroleum Institute. Gold prices surged to a record high.

Analyst opinions on various companies were mixed, with several upgrades and downgrades issued throughout the day, reflecting a diverse market sentiment ahead of the US Fed’s decision and the upcoming Union Budget. Several other companies announced significant business developments, including acquisitions, contracts, and new product launches. The market’s attention is now turning to the US Federal Reserve’s interest rate decision and the Union Budget 2025.

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