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Budget Stock Market Impact highlight: Sensex, Nifty show muted response to Union Budget, trade flat

Budget Stock Market Impact highlight: Stay informed on the latest market trends as FM Nirmala Sitharaman presents the interim Union Budget 2024.
Budget Stock Market Impact LIVE: Finance minister Nirmala Sitharaman is presenting Union Budget.
Budget Stock Market Impact LIVE: Finance minister Nirmala Sitharaman is presenting Union Budget.

Budget Stock Market Impact highlight: Indian shares remained muted in early trade on Thursday as investors awaited Union Budget 2024 announcements. Finance minister Nirmala Sitharaman is presenting the Narendra Modi government's interim Budget and her sixth consecutive budget in Parliament....Read More

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Feb 1, 2024 3:34 PM IST

Budget Stock Market Impact LIVE: Sensex, Nifty close flat

Markets showed muted response to the interim Union Budget. The NSE Nifty 50 index dipped 38 points at 21,689 and the S&P BSE Sensex was at 71,645, losing 106 points at 3:30pm. They were up about 0.3% ahead of the budget.

Feb 1, 2024 3:27 PM IST

Budget Stock Market Impact LIVE: Government has walked the path of fiscal prudence, says expert

Ranen Banerjee, Partner and Leader Economic Advisory, PwC India

The government has walked the path of fiscal prudence, and it is heartening to note that the fiscal deficit target for FY24, pegged at 5.8%, will be overachieved. The fiscal deficit being pegged at 5.1% for FY25 is a positive move as it will help free up space for private borrowings as they pick pace during the year, besides helping in containing inflationary pressures and supporting the bond markets. There has been no change on the taxation front, and we will have to wait for the full budget for any changes, with the government sticking to the norm of not making major announcements in an interim budget. The additional allocation of 1.1 trillion for capex, taking it to 11.1 trillion, should provide continuity in the pace of infra creation and in bringing down the logistics cost in the country progressively.

Feb 1, 2024 3:25 PM IST

Budget Stock Market Impact LIVE: Commitment of a Rs. 1 lakh crore corpus for interest-free loans is a game-changer, says expert

Rohit Arora, CEO and Co-founder, Biz2Credit and Biz2X

“In this interim budget, I am particularly impressed by the strategic measures aimed at strengthening MSMEs and the focus on innovation in the BFSI sector. As a fintech leader, I see the extension of tax exemptions for startups as a crucial move for fostering entrepreneurial spirit in our field. The commitment of a Rs. 1 lakh crore corpus for interest-free loans is a game-changer, especially for SMEs/MSMEs and startups, fuelling research and innovation. The budget's focus on technology, including the investment in deep-tech defence technologies, aligns perfectly with our mission at Biz2X to drive forward financial technology. As the economic landscape evolves, our commitment to enhancing financial inclusion and innovation in the digital lending sphere remains stronger than ever.”

Feb 1, 2024 3:24 PM IST

Budget Stock Market Impact LIVE: How experts see the budget?

Mohammad Athar- Partner and Leader CP&I & Industrial Development , PwC India:

The budget has maintained a consistent focus on infrastructure investments as a key enabler for driving India’s competitiveness.

With an outlay of 11.1 lakh crore, the budget has put significant focus on railway corridors to enable logistics cost reduction. Capital expenditure for airport expansions will help in serving the growth needs of one of the fastest growing aviation markets in the world. Likewise, promoting public transport investments across metro, rail, electric buses and regional rail projects will serve several objectives of the country by enabling urban transformation, decongesting our cities and driving our decarbonisation agenda for transport. Finally, tourism is a large economic development opportunity for India. Promoting development of tourism sites by states, investments in connectivity infrastructure and addition of new iconic tourism centres will enable local employment and create economic opportunities across Indian states.

Feb 1, 2024 3:05 PM IST

Budget Stock Market Impact LIVE: Markets remain flat

On Budget 2024 day, markets continue to trade flat as Sensex remains 13.94 points down at 71,738.17, and NSE Nifty is down to 21,723.85.

Feb 1, 2024 2:50 PM IST

Budget Stock Market Impact LIVE: Energy stocks rally

Energy stocks saw a spike of 7 percent as Finance Minister Nirmala Sitharaman announced on Thursday around 1 crore households across the country will get free electricity up to 300 units under the new rooftop solar panel system scheme.

Feb 1, 2024 2:35 PM IST

Budget Stock Market Impact LIVE: Sensex, Nifty at 2:30pm

The NSE Nifty 50 index and the S&P BSE Sensex were mostly unchanged as of 2:30pm. They were up about 0.3% ahead of the budget.

Feb 1, 2024 2:26 PM IST

Budget 2024: Sitharaman tax demand withdrawal to benefit 10 million taxpayers

Finance minister Nirmala Sitharaman on Thursday announced the withdrawal of outstanding direct tax demands up to 25,000 pertaining to the period up to financial year 2009-10 and up to 10,000 for 2010-11 to 2014-15. The move is expected to benefit about 10 million taxpayers.

“I propose to withdraw such outstanding direct tax demands up to twenty-five thousand rupees ( 25,000) pertaining to the period up to the financial year 2009-10 and up to ten thousand rupees ( 10,000) for financial years 2010-11 to 2014-15. This is expected to benefit about a crore tax-payers,” Sitharaman announced in her Interim Budget speech in Parliament.

Feb 1, 2024 1:15 PM IST

Budget Stock Market Impact LIVE: Nirmala Sitharaman lauds aviation sector developments

Budget Stock Market Impact LIVE: The expansion of existing airports and development of new airports will continue expeditiously, Finance Minister Nirmala Sitharaman said on Thursday and emphasised that the country's aviation sector has been galvanised in the past 10 years.

Presenting the interim Budget for 2024-25, Sitharaman said in the last 10 years, the number of airports has doubled to 149, adding that Indian carriers have pro-actively placed orders for over 1,000 new aircraft.

Feb 1, 2024 12:34 PM IST

Budget Stock Market Impact LIVE: How Sensex reacted?

Indian shares relinquished early gains on Thursday as FM Sitharaman presented the interim budget without the anticipated major announcements ahead of the country's general election.

Feb 1, 2024 12:26 PM IST

Budget Stock Market Impact LIVE: Take a look at top performing stocks

Indian fisheries stocks jumped as the government doubled the export target in the budget, while power stocks gained as the budget proposed that 10 million houses would get free electricity via solar rooftops.

Feb 1, 2024 12:25 PM IST

Budget Stock Market Impact LIVE: Who are the gainers?

Among the sectors, auto stocks were top gainers, rising 1% as companies reported sales data for January.

Feb 1, 2024 12:20 PM IST

Infra budget outlay increased by 11.1%

FM Sitharaman: Building on the massive tripling of the infra budget outlay in the past 4 years resulting in a huge multiplier impact on growth and employment, the outlay for the next year is being increased by 11.1% to 11,11,111 crore. This would be 3.4% of our GDP.

Feb 1, 2024 12:18 PM IST

Fiscal deficit in 2024-25 is estimated to be 5.1% of GDP

"The fiscal deficit in 2024-25 is estimated to be 5.1% of GDP," says union finance minister Nirmala Sitharaman.

Feb 1, 2024 12:08 PM IST

Budget Stock Market Impact LIVE: Sensex shows mild gains

Budget Stock Market Impact LIVE: Sensex rises 124 points to trade at 71,876. Nifty in green at 21,743.

Feb 1, 2024 11:58 AM IST

Confederation of Indian Industry keeps sharp eye on interim Union Budget 2024

Feb 1, 2024 11:55 AM IST

Our government will expand and strengthen E-vehicle ecosystem says FM Sitharaman

"Electric Vehicle Ecosystem: Our government will expand this and strengthen the E-vehicle ecosystem by supporting manufacturing and charging infrastructure. Greater adoption of E-buses for public transport networks will encouraged through payment security mechanism," says Finance minister Nirmala Sitharaman.

Feb 1, 2024 11:52 AM IST

FDI is 'First Develop India' says FM Sitharaman

"FDI is 'First Develop India'... FDI inflow during 2014 to 2023 was 596 billion US dollars, marking a golden era. This was twice the FDI inflow between 2005 to 2014. For sustained FDI, we are negotiating bilateral investment treaties with foreign partners," says FM Sitharaman.

Feb 1, 2024 11:49 AM IST

Jan Dhan direct transfers save ₹2.7 lakh crore: FM

FM Sitharaman said direct benefit transfers of 34 lakh crore through Jan Dhan accounts have resulted in savings of 2.7 lakh crore.

Feb 1, 2024 11:43 AM IST

Sitharaman says 43 crore loans aggregating to ₹22.5 lakh cr extended under PM Mudra Yojana

The government has extended 43 crore loans aggregating to 22.5 lakh crore under the PM Mudra Yojana, FM Nirmala Sitharaman said in her budget speech.

Feb 1, 2024 11:40 AM IST

FM Sitharaman announces scheme for deep-tech technologies

A corpus of 1 lakh crore will be established through a 50-year interest-free loan to provide long-term financing with extended tenures and minimal interest rates, says FM Sitharaman.

Feb 1, 2024 11:39 AM IST

What FM Sitharaman said on GST in her interim Union Budget speech

Goods and Services Tax (GST) has enabled one nation, one market, one tax. Tax reforms have led to the deepening and widening of tax base. Strengthening of the financial sector has helped in making savings, credit and investments more efficient," says union finance minister Sitharaman.

Feb 1, 2024 11:35 AM IST

Average real income of people has increased by 50%: FM Sitharaman

"The economy is doing well; people are living better and earning better with greater aspirations for future. Average real income of people has increased by 50 per cent, inflation is moderate," says Union finance minister Sitharaman.

Feb 1, 2024 11:32 AM IST

Government focused on Governance, Development and Performance: FM Sitharaman

FM Sitharaman says, “The government is equally focused on GDP - Governance, Development and Performance. She adds, ”The next five years will be the years of unprecedented development."

Feb 1, 2024 11:28 AM IST

Paytm shares stay 20% down despite Sensex rally

Fintech firm Paytm's shares tumbled 20 per cent day after the Reserve Bank of India barred its lending arm Payments Bank from accepting new deposits.

Follow: Paytm share price LIVE

Feb 1, 2024 11:26 AM IST

Budget Stock Market Impact LIVE: Rupee rises 9 paise to 82.95 against US dollar ahead of Budget

The rupee appreciated 9 paise to 82.95 against the US dollar in early trade on Thursday as market participants remained cautious ahead of the interim Budget.

Forex traders said the rupee was trading in a narrow range as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments.

Feb 1, 2024 11:22 AM IST

Budget Stock Market Impact LIVE: FM Sitharaman lauds Skill India Mission

Union finance minister Nirmala Sitharaman said, "The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs. A large number of institutional higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 Universities have been set up."

Feb 1, 2024 11:12 AM IST

Budget Stock Market Impact LIVE: Markets at 11am

At 11 am the Sensex was up 282.41 points or 0.39% at 72,034.52, and the Nifty was up 71.50 points or 0.33% at 21,797.20.

Feb 1, 2024 11:02 AM IST

Budget Stock Market Impact LIVE: Rail stocks trade higher ahead of interim Union Budget

Stocks of companies related to railways were trading in the positive territory on Thursday morning ahead of the presentation of the interim Budget.

Shares of IRCON International rallied 3.26 per cent, Texmaco Rail & Engineering jumped 2.71 per cent, Indian Railway Finance Corporation climbed 2.58 per cent and Rail Vikas Nigam advanced 1.52 per cent on the BSE.

The stock of Jupiter Wagons went up 1.46 per cent, Indian Railway Catering and Tourism Corporation (IRCTC) (0.88 per cent) and Titagarh Rail Systems (0.71 per cent).

Feb 1, 2024 10:59 AM IST

Budget Stock Market Impact LIVE: Markets get muted start ahead of interim budget

The 30-share BSE Sensex rose 118.59 points to 71,870.70 points and the Nifty quoted 68.20 points up at 21,789.90 points.

Feb 1, 2024 11:26 AM IST

Budget Stock Market Impact LIVE: Rupee rises 9 paise to 82.95 against US dollar ahead of Budget

The rupee appreciated 9 paise to 82.95 against the US dollar in early trade on Thursday as market participants remained cautious ahead of the interim Budget.

Forex traders said the rupee was trading in a narrow range as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments.

Feb 1, 2024 11:22 AM IST

Budget Stock Market Impact LIVE: FM Sitharaman lauds Skill India Mission

Union finance minister Nirmala Sitharaman said, "The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs. A large number of institutional higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 Universities have been set up."

Feb 1, 2024 11:12 AM IST

Budget Stock Market Impact LIVE: Markets at 11am

At 11 am the Sensex was up 282.41 points or 0.39% at 72,034.52, and the Nifty was up 71.50 points or 0.33% at 21,797.20.

Feb 1, 2024 11:02 AM IST

Budget Stock Market Impact LIVE: Rail stocks trade higher ahead of interim Union Budget

Stocks of companies related to railways were trading in the positive territory on Thursday morning ahead of the presentation of the interim Budget.

Shares of IRCON International rallied 3.26 per cent, Texmaco Rail & Engineering jumped 2.71 per cent, Indian Railway Finance Corporation climbed 2.58 per cent and Rail Vikas Nigam advanced 1.52 per cent on the BSE.

The stock of Jupiter Wagons went up 1.46 per cent, Indian Railway Catering and Tourism Corporation (IRCTC) (0.88 per cent) and Titagarh Rail Systems (0.71 per cent).

Feb 1, 2024 10:59 AM IST

Budget Stock Market Impact LIVE: Markets get muted start ahead of interim budget

The 30-share BSE Sensex rose 118.59 points to 71,870.70 points and the Nifty quoted 68.20 points up at 21,789.90 points.

News business Budget Stock Market Impact highlight: Sensex, Nifty show muted response to Union Budget, trade flat