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
Anwar said, "Ye baat kaafi hadd tak spasht ho gai hai ki ye budget majboori ka budget hai. (It became clear to a great extent that this budget is a budget of compulsion.) Compulsion in the sense that they want to save the government. And to save the government, they had to please Bihar and A
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.
"This is a rare happening where a President who has already got the number of primary votes has stepped back. So, in that sense, it's a very interesting political development," Sandhu told ANI.
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.
The benchmark indices Sensex and Nifty both started the day in the red. The Sensex opened 83.92 points down at 81,269.85, while the Nifty began trading 47.60 points lower at 24,753.25.