Sat Feb 01 04:36:48 UTC 2025: ## Indian Markets Surge on Positive Budget News
**Mumbai, February 1, 2025** – India’s benchmark stock indices, the Sensex and Nifty, soared on Saturday following the presentation of the Union Budget 2025-26. The Sensex gained 350.03 points, closing at 77,850.60, while the Nifty climbed 106.15 points to 23,614.55. This positive trend follows a strong finish on Friday, where both indices also saw significant gains.
Finance Minister Nirmala Sitharaman unveiled a budget focused on “transformative reforms” across six key sectors: taxation, power, urban development, mining, finance, and regulatory frameworks, with agriculture identified as a primary engine of growth. The budget aims to accelerate inclusive growth and contribute to a “Viksit Bharat” (developed India) vision, characterized by zero poverty, quality education, and affordable healthcare.
While the Indian economy is projected to grow at 6.3-6.8% in the coming fiscal year – a rate deemed insufficient to reach developed nation status by 2047 – the government is banking on these reforms to stimulate further expansion. The pre-Budget Economic Survey highlighted the need for deregulation and reforms in land and labor sectors to achieve the target of near 8% annual growth.
Despite the positive market reaction, Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,188.99 crore on Friday. Global oil prices also saw a slight dip. The positive performance in Indian markets contrasts with the downturn seen in U.S. markets on Friday, with Asian markets closed for the weekend. Several blue-chip stocks, including IndusInd Bank and UltraTech Cement, saw significant gains, while others like Titan and Zomato experienced losses.
First Piper 