MC Desk | February 1, 2025
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Index surged 3%, marking its best day in eight months, as lower taxes are expected to boost consumer spending.
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Two-wheeler stocks, including Bajaj Auto, Hero MotoCorp and Eicher Motors, rose 1.4% to 4% as tax cuts aimed at increasing disposable income lifted sentiment.
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The real estate index gained 3.4%, logging its best session since June 6, 2024. Phoenix Mills led the rally with a 7.5% jump.
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Image: Canva
Policy support for the leather industry saw Bata India and Liberty Shoes rise 6.2% and 7.3%, respectively.
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Stocks linked to fisheries also gained after the government announced plans for sustainable development in the sector.
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Infra-related stocks declined 1.1% as the budget outlined only a ‘modest’ increase in capital expenditure, disappointing investors.
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HDFC Life, SBI Life, and ICICI Prudential Life fell 1-3% as revised tax slabs reduced the attractiveness of tax-saving insurance products.
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