After recovering from the post-budget losses, the Indian stock market closed in green for the first time this week after five consecutive trading day's losses.
The Indian stock market opened with minor gains on Friday remaining negative for two consecutive days after the announcement of the Union Budget 2024-25.
As per the market analysts, the declining global sentiment after the disappointment that arose after the earnings disclosure of Alphabet and Tesl have greatly impacted the market globally.
As the selling pressure continues for the last two consecutive days following the Union Budget announcement, the Indian stock market is expected to follow the global trend as the S&P 500 and Nasdaq hit multi-week lows.
Indian markets closed on a decline on Thursday, a day after the government proposed an increase in capital gains tax and a hike in the Securities Transaction Tax for F&O transactions in the Union Budget
The Indian benchmark indices experienced significant volatility as Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 under the Modi 3.0 government on Tuesday.
The Sensex rose by 173.80 points, opening at 80,675.88, while the Nifty climbed 51.95 points, starting the day at 24,561.20. Out of the Nifty companies, 40 showed advances, while 9 registered declines.
Indian benchmark indices experienced high volatility during the trading session on Monday as the economic survey presented a conservative economic growth forecast for the financial year 2024-25.
Indian markets started the week with a decline following global market weakness after U.S. President Joe Biden opted out of the presidential race. Indian markets are also facing selling pressure ahead of the Union Budget announcement by the government.
As the highly-anticipated Union Budget week is going to commence today, investors' sentiments in the equity market will be driven by the announcements made by Finance Minister Nirmala Sitharaman.
Stock market closed on a negative note on Friday, with the Sensex plunging 738.81 points to settle at 80,604.65 and the Nifty falling 275.25 points to close at 24,530.90.