The market is well ahead of the budget speech. The BSE Sensex is trading up 434 points at 46,720.15. Banking shares are at the forefront of the market boom. The Nifty Bank Index is trading at 31,130, up 564 points. IndusInd Bank’s stock is trading up 7%. The Nifty index is also trading at 13,747.45 with a gain of 113 points.
Budget speech will begin at 11 am
Finance Minister Nirmala Sitharaman has reached Parliament. Today at 11 am, for the first time, we will present the budget through the tab. This will be his third budget. Earlier, he also presented the Union Budget on 5 July 2019 and 1 February 2020. Minister of State for Finance Anurag Thakur said that this budget will be a relief for the common people. This will be the 9th budget of the Modi government, including the interim budget that came on 5 July 2019.
The BSE is traded in 2,490 shares. 1,315 shares advanced and 1,028 declined. The total market cap of the listed companies has increased to Rs 186.89 lakh crore as against Rs 186.13 lakh crore on Friday. Earlier, the market closed for 6 consecutive sessions.
Market moves will depend on the budget-linked announcements in the key sectors. Focus will be on stocks of insurance companies including MSME, Auto, Defense.
There will be a focus on cement sectors including agri, auto on the day of budget
According to brokerage firm Angel Broking Ltd, several announcements can be made in the auto industry with incentive based scrap page policy as well as improvement in sectors like Agri, Housing and Infra. In this, investors will be advised to buy shares in Ashok Leyland, Escort, JK Lakshmi Cement, Whirlpool India and LIC Housing Finance. According to the company, there are huge fluctuations in the market on the budget day. In such a situation, investors should also be cautious.
Given tensions with neighboring countries and arms exports, the government may make big announcements for the sector. In such a situation, the shares of defense sector will remain in focus today. In this, Hindustan Aeronautical Ltd. (HAL) shares are the most important.
Shares of government companies will be in focus
The government has managed to raise only Rs 19,499 crore under the disinvestment scheme, while there was a plan to raise Rs 2.10 lakh crore in the financial year 2020-21. In such a situation, shares of government companies will be in focus today. Because the government can make declarations related to raising funds from privatization.
Reverse trends in the market at the time of budget, estimates of fiscal deficit and new tax slab will have an impact
Historically, there is a reverse trend in the stock market at the time of budget. That is, the market, which is constantly growing, slips on the day of the budget. Similarly, the market which is trading with a decline, gets an increase at the time of budget. However, this is not necessary. At the same time, 7 out of 12 closed in the market on the budget day.
Most market experts are expecting that the market may see a fall due to increased fiscal deficit due to higher government spending and lower income. Apart from this, the government can bring corona tax.
US markets fall heavily
Today the global sentiment is very volatile. On one hand, Japan’s Nikkei, Hong Kong’s Hangseng and Australia’s All Ordinaries Index are up 1%. Similarly, Korea Cospi is trading at 1.76% in the index. While China’s Shanghai Composite Index is trading flat. Prior to this, there was a huge decline in the American and European markets.
The Dow Jones, Nasdaq, S&P 500 index closed down over 2% yesterday. Similarly, the UK’s FTSE, France’s CAC and Germany DAX index also fell by 2%.
Stock Market LIVE Updates …
10:24 AM In the defense sector, Bharat Dynamics, Hindustan Aeronautics and Mishra Dhatu are trading up 1% each.
09:49 AM UPL shares in BSE are trading down 8%. This is the fourth consecutive trading day decline in the stock. This is the highest falling stock in the Nifty.
09:42 AM Government banks currently need 43 thousand crore rupees. This is because there is a possibility of bad debt (NPA) during Corona. The government may announce money for public sector banks in this budget. With this expectation, banking stocks are also rising. The Nifty Bank Index is trading with a gain of 422 points i.e. 1.38%. IndusInd Bank stock is trading at a maximum gain of 7.48%. In the last budget, the government did not give any money to public sector banks.
09:28 AM Nifty Pharma Index is trading down 1.36%. In this, Dr. Reddy’s share is the top loser share with a decline of 4.30%. The only Sun Pharma stock in the index is trading up 1%.
Source – NSE
Source – NSE
09:22 AM BSE is trading with 23 out of 30 stocks in the Sensex. IndusInd Bank’s stock is trading up 6.16%. At the same time, Dr. Reddy’s stock is trading down by 4.13%.
Source – BSE
Source – BSE
09:15 AM Sensex opened up 332 points at 46,617.95 and Nifty opened 124 points up at 13,758.60.
09:10 AM The Sensex has gained 332 points to close at 46,617.95 in the pre market.
09:00 AM The BSE Sensex is trading up 383 points at 46,669.03 in the pre-market.
The condition of markets around the world