Sensex, Nifty open flat ahead of Budget 2025: Top gainers and top losers
The Indian stock markets on Saturday opened flat and soon went in red the red. At 9.22 am, the BSE Sensex was down 63.06 points or 0.08% and the broader NSE Nifty was 19.30 points down or 0.08%.
Top Gainers:
- Sunpharma was up by 1.61 per cent.
- Zomato rose by 0.98 per cent.
- Indus Ind Bank opened with an increase of 0.79 per cent.
- M&M increased by 0.49 per cent.
- Larsen&Toubro (L&T) rose by 0.45 per cent.
Top Losers:
- Reliance shares was down by 0.08 per cent.
- Bajaj Finserv saw a down of 0.13 per cent.
- Tech M saw a reduction of 0.21 per cent.
- HLC Tech also fell by 0.15 per cent.
- ITC shares were down by 0.17 per cent.
The gainers and losers data is accurate as of 9:22 am.
Notably, at the exact time of market opening, both Sensex and Nifty saw an increase of 113 and 37 points respectively.
The update comes just ahead of finance minister Nirmala Sitharaman presenting the Union Budget 2025 in the Parliament on Saturday at 11 am. This is the finance minister’s record eighth consecutive budget and the second full-budget of the Modi 3.0 government.
Notably, the Indian share market remained open despite it being a Saturday due to the Budget presentation in the Parliament and to give the markets enough reaction time for the same.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Service, as was quoted by news agency PTI as, “On the Budget day, the market reactions will be quick in response to Budget announcements. A major expectation from the Budget is a cut in personal income tax to provide relief to the middle class and boost consumption, thereby facilitating growth recovery. The extent of the tax relief remains to be seen. The fact is that there is no fiscal space for big relief.”
Vijayakumar added that the share market will be looking towards growth stimulating measures, not market-related taxation reliefs.
He further said that the market response to the Union Budget will not last for more than a few days, adding that trends in growth and earnings recovery will dictate the medium to long-term market direction.
The document tabled in the Parliament by Sitharaman indicated that India’s world-beating growth is moderating and more needs to be done to hit the near 8 per cent annual rate mark to achieve the Viksit Bharat target by 2047.
On January 31, 2025, the stock market rallied towards the close, the fourth straight close in the green this week. The share market was led by consumer durables, mid and small cap financial services, real estate and oil and gas stocks.
The Sensex closed 740.76 points or 0.97% up, reaching 77,500.57. The Nifty was up by 258.90 points or 1.11%, reaching 23,508.40.
(with PTI inputs)
