Sensex, Nifty surge past key levels led by consumer stocks 

Indian equity benchmarks extended their gains in mid-day trading on Friday, with both Sensex and Nifty hitting new intra-day highs, driven by strong performance in consumer and retail stocks ahead of the Union Budget 2025. The BSE Sensex climbed 564.77 points or 0.74 per cent to 77,324.58, while the NSE Nifty rose 207.35 points or 0.89 per cent to 23,456.85 around 12.35 pm.

Consumer giants led the rally, with Nestle India surging 5.99 per cent and Tata Consumer Products gaining 5.78 per cent. Defence equipment manufacturer Bharat Electronics Ltd (BEL) advanced 4.91 per cent, while retail chain Trent and watch-to-jewellery maker Titan Company rose 4.43 per cent and 4.38 per cent, respectively.

The broader market showed robust momentum, with the Nifty Next 50 index gaining 1.43 per cent to reach 63,083.60, and the Nifty Midcap Select index rising 1.06 per cent to 11,920.10. Banking stocks showed modest gains, with the Nifty Bank index up 0.23 per cent at 49,426.75, while the Nifty Financial Services index added 0.17 per cent to reach 23,173.15.

On the downside, ITC Hotels led the losses with a 2.05 per cent decline, followed by telecom major Bharti Airtel dropping 1.43 per cent. Financial services companies Bajaj Finserv and Bajaj Finance fell 1.24 per cent and 0.31 per cent, respectively, while ICICI Bank declined 1.05 per cent.

Market breadth remained firmly positive, with 2,566 stocks advancing against 1,168 declines on the BSE. A total of 3,881 stocks were traded, with 147 remaining unchanged. The session saw 52 stocks hitting their 52-week highs, while 68 touched their 52-week lows. Circuit filters were triggered for 405 stocks, with 206 hitting the upper circuit and 199 touching the lower circuit.

The market continued its upward trajectory from the morning session, building on positive sentiment from strong US earnings, despite concerns over potential North American trade tensions. The upcoming Union Budget 2025 and recent Economic Survey findings continue to influence market movements, with particular attention on infrastructure and green energy initiatives.

Trading volumes remained robust across both exchanges as investors positioned themselves ahead of the Budget announcement, with broader market participation indicating sustained buying interest across various sectors.