Home » Business » Budget 2019 Market Updates: Sensex Closes 212 Points Higher, Nifty Ends At 10,893

Budget 2019 Market Updates: Sensex Closes 212 Points Higher, Nifty Ends At 10,893

Budget 2019 Market Updates: Sensex Closes 212 Points Higher, Nifty Ends At 10,893

“The outcome of Interim Budget has been marginally better than expected by the market as it provided incentives to small farmers and common man while maintaining a rationality in the long term,” said Vinod Nair, Head of Research, Geojit Financial Services.
“For the market in the short term, Nair said the Budget provided a good signal since the Interim Budget “will not trouble the economic accountancy and populist agenda. These measures are positive for the consumption oriented sectors like FMCG, consumer staples and durables as well as auto and has attracted investor interest,” he said.
Feb 01, 2019
16:29 (IST)
Auto and consumption stocks buzzed the most as investors welcomed incentives for the agriculture sector and middle class in the budget, traders were quoted as saying in news agency Press Trust of India report.
Feb 01, 2019
16:27 (IST)

According to Mustafa Nadeem, CEO, Epic Research, the budget announcements are going to bring in a lot of liquidity to the market in terms of investment. “Some profit-booking and consolidation in the short term was expected as prices tend to absorb the Budget, but we expect the momentum to remain strong,” he added.
Feb 01, 2019
16:21 (IST)
However, state-run lenders including State Bank of India, which reported its quarterly results earlier in the session, closed 3.76 per cent lower, while Punjab National Bank ended 4.77 per cent lower respectively on the NSE.
Feb 01, 2019
16:15 (IST)
The Nifty auto index settled 2.71 per cent higher.
Feb 01, 2019
16:11 (IST)

Closing between 1.94 per cent and 7.48 per cent higher, Hero MotoCorp, Maruti, HCL Tech, Asian Paints were the major advancers on the Sensex.
Feb 01, 2019
16:06 (IST)

Top gainers on the Nifty were Hero MotoCorp, Maruti, HCL Tech, Eicher Motors and Dr Reddy’s, settling between 3.32 and 7.54 per cent higher.
Feb 01, 2019
15:54 (IST)

The Sensex moved in a range of 36,778.14-36,221.32 during the session, whereas the Nifty touched a high of 10,983.45.
Feb 01, 2019
15:50 (IST)
The S&P BSE Sensex ended 212.74 points or 0.59 per cent higher, at 36,469.43 while, NSE’s benchmark index Nifty closed at 10,893.65, up 62.70 points or 0.58 per cent from the previous close.
Feb 01, 2019
15:28 (IST)
The 10-year benchmark government bond yield rose to 7.60 per cent from 7.49 per cent pre-budget, while the rupee was almost steady at 71.14 to the dollar compared to pre-budget level of 71.18.
Feb 01, 2019
15:22 (IST)
The 30-share benchmark index is 217.24 points or 0.60 per cent higher at 36,473.93, and the Nifty is at 10,894.40, up 63.45 points or 0.59 per cent from the previous close.
Feb 01, 2019
14:58 (IST)
The Nifty auto index is 2.34 per cent up.
Feb 01, 2019
14:43 (IST)
“Market is basically forecasting increased consumption due to reduction in taxes,” said Sunil Sharma, chief investment officer, Sanctum Wealth Management.
Feb 01, 2019
14:26 (IST)
Hero MotoCorp, Maruti, HCL Tech, Asian Paints, Bajaj Finance and Hindustan Unilever are the top gainers on the Sensex, trading between 2.01 per cent and 6.98 per cent higher.

The 30-share benchmark index is 137.40 points or 0.38 per cent higher at 36,394.09, and the Nifty is at 10,869.60, up 38.65 points or 0.36 per cent from the previous close.
Feb 01, 2019
14:17 (IST)
Consumption-driven stocks rallied the most after the Budget announcement, with BSE auto, consumer durables, FMCG and realty indices soaring up to 4 per cent.
Feb 01, 2019
13:59 (IST)
Overall, market sentiments are bullish even as the government overshot the fiscal deficit target for the current financial year and announced some populist measures, which experts believe will increase fiscal burden on the exchequer.

Feb 01, 2019
13:55 (IST)
Healthy buying can be witnessed in the auto, FMCG and capital goods stocks.
Feb 01, 2019
13:47 (IST)

The Interim Budget’s proposal to give full rebate to tax payers having annual income up to Rs. 5 lakh has given a good boost to the equity market. (Read Full Text Of Piyush Goyal’s Budget Speech)
Feb 01, 2019
13:43 (IST)
Shares of Vedanta Ltd slumped to a two-and-a-half-year low  after analysts expressed concerns over an investment by the parent company of the conglomerate in African miner Anglo American.

The stock slumped as much as 19.86 per cent, the largest intraday fall since October 2008. More than 7.4 crore shares – 7.4 times its 30-day average – had changed hands by early afternoon, making it the most-heavily traded security on the NSE index
Feb 01, 2019
13:36 (IST)

According to Viral Berawala, CIO, Essel Mutual Fund, the budget is pro-growth with large sections of the population viz small farmers and middle class being the primary beneficiaries. “The fiscal slippage number is tolerable, although the net borrowing number is higher than market expectation,” he said.
Feb 01, 2019
13:27 (IST)
Sector wise, the NSE auto, FMCG, realty, pharma and banking indices are up while metal stocks are down.
Feb 01, 2019
13:14 (IST)
Prominent gainers on the 50-scrip index are Hero MotoCorp, Maruti, Eicher Motors, Indiabulls Housing Finance and Mahindra & Mahindra, trading between 4.01 per cent and 7.16 per cent.
Feb 01, 2019
13:07 (IST)

Markets soared after Union Minister Piyush Goyal said that individual taxpayers with annual income up to Rs. 5 lakh will get full tax rebate. ” Individuals with gross income up to Rs. 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities. Around three crore middle class taxpayers will get tax exemption due to this measure,” Piyush Goyal said.
Feb 01, 2019
12:58 (IST)
The S&P BSE Sensex surges as much as 449.72 points to touch 36,706.41, while the Nifty50 barometer of the National Stock Exchange advances by 127.8 points to hit 10,958.75.

Feb 01, 2019
12:52 (IST)
The Nifty auto index is 3.20 per cent up.
Feb 01, 2019
12:47 (IST)
Sensex up 445.68 points, or 1.23 per cent higher, to trade at 36,702.37. The Nifty edges higher by 117.35 points, or 1.08% higher to trade at 10,948.30.
Feb 01, 2019
12:19 (IST)

Sensex up 110.65 points, or 0.31% higher, to trade at 36,367.34. The Nifty edges higher by 27.20 points, or 0.25% higher to trade at 10,858.15.
Feb 01, 2019
12:13 (IST)
“For the first time, the defence Budget has been raised to over Rs. 3 lakh crore,” said Piyush Goyal. Defence stocks are trading higher with Larsen & Toubro Limited up 0.87 per cent on the NSE.C
Feb 01, 2019
11:56 (IST)

Realty stocks are maintaining their morning gain as Union Minister Piyush Goyal announces projects for the infrastructure space. Nifty Realty index is up 1.77 per cent.
Feb 01, 2019
11:53 (IST)

The FMCG index is 0.92 per cent higher on the NSE.
Feb 01, 2019
11:43 (IST)

Agriculture stocks jump as interim Budget 2019 focuses on farmers; Nagarjuna Fertilizers trades 5.92 per cent higher on the NSE. 
Feb 01, 2019
11:43 (IST)

“The government has made a historic plan called the PM Kishan programme. Those small farmers who have less than two hectares will get a support of Rs. 6,000,” said Piyush Goyal. “It will be transferred directly to the bank accounts of farmers in three instalments of Rs. 2,000,” he added.
Feb 01, 2019
11:41 (IST)
The 30-share benchmark index trades 166.66 points or 0.46 per cent higher at 36,423.35, and the Nifty is at 10,874.20, up 43.25 points or 0.40 per cent from the previous close.
Feb 01, 2019
11:35 (IST)

In his budget 2019 speech, meanwhile, Union Minister Piyush Goyal revises the fiscal deficit target for 2018-19 to 3.4 per cent of the GDP, from the previous target of 3.3 per cent.
Shares of Jet Airways rise 9.77 per cent on the NSE on reports that the lenders have made progress in involving Etihad to take a higher stake in the company.
Feb 01, 2019
11:27 (IST)

According to Deepak Jasani, HDFC Securities, advance decline ratio remains positive in markets on anticipation of positive cues from the Budget. “Real estate, FMCG, media and auto indices are up, suggesting expectation build-up in these sectors while metal index is down following poor numbers from Vedanta the previous evening,” he said.
Feb 01, 2019
11:21 (IST)
Prominent gainers on the 50-scrip index are Hero MotoCorp, Maruti, Eicher Motors, ZEEL and Bharti Airtel, trading between 2.06 and 3.48 per cent higher.

Feb 01, 2019
11:12 (IST)

Sensex up 85.54 points, or 0.24% higher, to trade at 36,342.23. The Nifty edges higher by 30.85 points, or 0.28% higher to trade at 10,861.80.
Feb 01, 2019
11:09 (IST)

Union minister Piyush Goyal is reading out the contents of the Budget 2019 in parliament. This is the last Interim Budget of the NDA government led by Prime Minister Narendra Modi before the Lok Sabha elections due by May.
[“source-“forbes”]

Please follow & like us

RSS
Follow by Email
Facebook
Google+
https://livebigcommunity.com/budget-2019-market-updates-sensex-closes-212-points-higher-nifty-ends-at-10893">
Twitter