POST-MARKET SUMMARY 1st February 2025

On February 1, Indian equity markets ended flat in a volatile session on Budget Day, despite significant announcements by Finance Minister Nirmala Sitharaman, including an income tax relief package. Sectorally, consumer durables rose 3%, realty added 3.3%, auto jumped 1.9%, media increased by 2%, and FMCG gained 3%. However, capital goods, power, and PSU indices shed 2-3%, while metal, IT, and energy sectors declined by 1-2%.

NIFTY:  The index 148 points higher at 23,528 and made a high of 23,632 before closing at 23,482. Nifty has formed a small bearish candlestick pattern on the daily chart. Its major resistance level is now placed at 23,600 while support is at 23,350.

BANK NIFTY: The index opened flat at 49,592 and closed at 49,506. Bank Nifty has formed a High Wave-like candlestick pattern on the daily chart. Its major resistance level is now placed around 49,700 while support is around 49,000.

Stocks in Spotlight

▪  Easy Trip Planners: Stock surged over 6% following the budget's proposed boost for the tourism sector. The Finance Minister highlighted tourism as a key driver of employment-led growth, with plans to develop the top 50 tourist destinations in collaboration with state governments.

▪  IRB Infrastructure: Stock fell over 3% after the government decided to keep capital expenditure for highways unchanged in the budget. This move dampened investor sentiment towards the sector.

▪  Avanti Feeds: Stock gained nearly 3% following the Union Budget’s boost to shrimp stocks. The budget’s focus on the sector lifted investor sentiment towards the company.

Check out other stocks that made significant moves today: Budget 2025: Winners & Losers Revealed!

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