Today, on the Budget Day, the stock market was bright from the beginning and as soon as Finance Minister Nirmala Sitharaman presented the budget in the Parliament, both the market indices started running at the speed of rocket.
Buoyed by the budget announcements, the Sensex index of the stock market had climbed more than 1000 points by 12.36 pm when the speech was over. This boom in the market was successful for some time and within an hour the Sensex broke badly and the Nifty came to the red mark.
Sensex came below 60 thousand
The Finance Minister announced changes in tax slabs and exemptions as soon as during the budget speech. Both the market indices Sensex and Nifty increased rapidly. After the budget, the BSE Sensex was trading at 60,583.04 with a gain of 1,033.14 points or 1.73% and the NSE Nifty index was trading at 17,924.70 with a strong jump of 262.55 points or 1.49%. At the same time, till the time of writing the news, at 2.28 pm, the Sensex had gained 149 points and it was trading below 60 thousand at 59,699.08.
Like the Sensex, there was a huge decline in the Nifty of the National Stock Exchange. After the budget speech, the Nifty which was trading above 260 points, fell to the red mark within an hour and a half. At present, Nifty is trading at the level of 17,638.30 after slipping 24 points.
The market was open with a boom
Earlier, on Wednesday, February 1, 2023, on the budget day, both the stock market indices opened with a strong boom. BSE’s 30-share Sensex opened at a level of 59,967.79 with a gain of 417.89 points or 0.70%. At the same time, the Nifty index of NSE started trading at 131.95 or 0.65% at the level of 17,776.70.
There was a slight rise on Tuesday
On Tuesday, a day before the last trading session or the budget, the Indian stock market finally closed on the green mark after a day-long ups and downs. At the end of trading, the BSE Sensex closed at 59,549.90 with a gain of 49.49 points, or 0.08 per cent. At the same time, Nifty closed at the level of 17,682.30 with a gain of 33.35 points which is 0.19 percent.
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