PSUs drive market gains on hopes of higher govt spending in upcoming Budget

PSUs drive market gains on hopes of higher govt spending in upcoming Budget

30 Jan 2025
Business Standard
PSUs drive market gains on hopes of higher govt spending in upcoming Budget

State-owned companies gained about 2 per cent, with analysts attributing the rise to expectations of government focus on public spending and infrastructure in the Budget announcement

India's benchmark indexes advanced on Thursday, as state-owned companies gained on expectations of a government spending boost in the upcoming union budget, overshadowing a drop in IT stocks and Tata Motors.

The Nifty 50 settled 0.37 per cent higher at 23,249.5, while the BSE Sensex added 0.3 per cent to 76,759.81, marking their third straight session of gains.

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