Home Economy and Finance Here is how the market reacted: Sensex and NIFTY rise sharply after Union Budget 2019

Here is how the market reacted: Sensex and NIFTY rise sharply after Union Budget 2019

Bombay Stock Exchange (BSE) Sensex jumped 500 points following the finance minister's announcement to increase the income tax exemption limit to Rs 5 lakh

Indian equity benchmarks showed major gains after Finance Minister declared the fiscal deficit target at 3.4 per cent of GDP for Financial Year 2019-20 during the Budget 2019 speech and proposed no tax on the income of up to Rs 5 lakhs per annum. About 1303 shares traded in green, 935 shares declined, and 117 shares remained unchanged, according to Money Control.

Bombay Stock Exchange (BSE) Sensex jumped 500 points following the finance minister’s announcement to increase the income tax exemption limit to Rs 5 lakh, reports BloombergQuint.

The Sensex today opened at 36,311.74 and reached the high of 36,706.41 points. The latest figures set the Sensex at 36,691.99, an increase of 435.30 points. Similarly, the NIFTY 50 opened today at 10,851.35 and reached a high of 10,981.55 points. The latest figures put it at 10,980.15, an increase of 149.20 points.

- Ad - - article resumes -


The consumption stocks, especially the NIFTY Consumption index, witnessed a good surge after Finance Minister Piyush Goyal announced tax rebate up to


Rs 5 lakh.

In addition to Consumer stocks, The Dalal street witnessed gains led by buying in auto, realty and pharma stocks. The major stocks like HDFC, HDFC Bank, Maruti and Reliance contributed heavily to the Sensex gains.

India’s Defence budget for FY 2018-19 was 2.95 lakh crores. Finance Minister has announced that defence budget will now get an increase to an all-time high of Rs 3 lakh crore. “The Defence Budget has crossed Rs. three lakh crore for the first time. Additional funds will be provided, if necessary,” said Piyush Goyal. On the heels of this, defence stocks like Larsen and Toubro showed an upward trend.  The stocks like Bharat Electronics, Walchandnagar Industries, Reliance Naval and Bharat Dynamics also showed a similar trend.

As it was speculated earlier, the Budget 2019 featured numerous sops to farmers to counter farmer distress. The biggest of them all was the declaration of structured income support to farmers through the Pradhan Mantri Krishan Samridhi Yojana. After the announcement, Agriculture stocks like Nagarjuna Fertilizers traded at 5.92 per cent higher on the National Stock Exchange. Similarly, companies which are connected to Agriculture products like Mahindra and Mahindra, Monsanto India also showed a green trend.


Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.

Big Story

Ram even did not even spare the judges of the Supreme Court. He stated that there are factual mistakes in the order of justices Bhanumathi and Bopanna.

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

To Advertise on Opindia.com Click here

Rakesh Jhunjhunwala slams notions of economic crisis gripping the country

“I don’t want Pappu to be my Prime Minister”: Investor Rakesh Jhunjhunwala says PM Modi has performed very well

In an explosive interview, Rakesh Jhunjhunwala pulled no punches in rubbishing the doomsayers casting aspersions on Modi government

Prashant Kishor’s team starts reaching out to media and influencers with ‘paid content’ offers ahead of West Bengal assembly elections

Darjeeling Chronicle has exposed how Prashant Kishor led IPAC is reaching out to 'influencers' and digital portals to carry out paid campaigning for TMC and Mamata Banerjee ahead of 2021 West Bengal state elections

‘Kashmir free from shackles of Pakistan sponsored terrorism’: Pakistani org representing Pashtuns refuses to support Imran Khan’s Kashmir protest, backs India

Pashtun Tahaffuz Movement (PTM), the principal body representing Pashtuns in Pakistan, has rejected Prime Minister Imran Khan’s recent call to all people in which he urged them to come out and support Pakistan’s narrative on Kashmir. 
Image Source: twitter

Malala Yousafzai spreads fake news, claims girl from Kashmir missed her exams on August 12 which was an Eid holiday

According to Malala, one of the three girls from Kashmir missed her exams on August 12. However, August 12 is a notified holiday declared across the country by Government of India on the occasion of Bakr Id or Eid ul-Adha.
Sharad pawar invents a new excuse to shift the blame of the defeat in the Lok Sabha polls

Pakistan hospitable, BJP govt spreading lies about Pakistan for political gains: NCP supremo Sharad Pawar at minority event

NCP chief Sharad Pawar expressed his admiration for terror state Pakistan stating that the people of Pakistan are "very hospitable" while blaming BJP govt for spreading lies about Pakistan for political gains

West Bengal: Majidur Rahman fakes Hindu identity to develop relationship with Hindu girl, later rapes and murders her

Married Majibur developed relation with Jaba pretending to be Hindu Pintu. rapes and murders her when pressed for marriage

Raj Thackeray’s MNS, with zero Vidhan Sabha seats, threatens to boycott forthcoming Maharashtra Assembly elections

Raj Thackeray's MNS is contemplating to boycott the upcoming Maharashtra state assembly elections
Vivek Ranjan Agnihotri

Vivek ‘Ranjan’ Agnihotri speaks about caste politics being played in Bollywood

Vivek Agnihotri responds to Neeraj Ghaywan’s tweets, and also shares a hitherto unknown trivia about his full name.
Allahabad University professor goes on indefinite leave after video insulting Hindu gods goes viral

Allahabad University professor who had boasted of urinating on a Shivling in viral video goes on indefinite leave, claims ‘lynching’ fear

Dr Vikram Harijan had claimed in the video that he had once urinated on a Shivling just to prove that the gods cannot do him any harm.
Subscribe to Day's Top Stories
[newsletter_form type="minimal"]
- Advertisment -

Latest articles

Connect with us

Help Opindia Reach Every Indian. Share This Post