Stock Market Live Updates: Sensex, Nifty set for a firm start as the Interim Budget and ongoing earnings season influence market dynamics this week

Updated – January 29, 2024 at 07:13 AM.

Sensex, Nifty, Share Prices LIVE: The Indian domestic market is expected to open on a positive note on Monday due to positive global cues. The interim budget on February 1 and ongoing result season will likely anchor market movement this week. The Nifty futures indicate a gap up opening of 60 points for Nifty. However, the market remains under pressure due to the continuous selling by foreign portfolio investors and mixed corporate results. According to Santosh Meena of Swastika Investmart, this week is poised to be pivotal, marked by a series of significant events, with the budget taking centre stage. However, the Finance Minister’s indication of a modest vote-on-account budget suggests a lack of extravagant announcements. The US Federal Reserve’s policy meeting scheduled for January 31 could provide insights into the potential timing of interest rate cuts. FPIs continued to be sellers in the cash market, having sold equity worth ₹27,664 crore through January 25. Their sell-off is attributed to rising US bond yields, which reached 4.18% post-US Fed pivot in December 2023, and lacklustre Q3 results in Indian financial services.