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.

- Advertisement - - Article resumes -

BSE SENSEX

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

NSE NIFTY

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.

 

Share This Post With Your Friends & Fans:
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.


Most read articles recently

Sri Lanka attacks

Sri Lankan millionaire’s family was an ISIS cell: Suicide bombers shatter shameless excuses peddled by ‘liberals’ to justify Islamic terrorism

All over the world, the terrorist attacks by radical Islamists is immediately served with long and extensive excuses about how social ills, discrimination, poverty, hardships, and atrocities lead to terrorism.

Meet the Photoshop artist whose work Akshay Kumar showed to Prime Minister Modi

While mostly people have been appreciative of his artwork, suspended bureaucrat Ashish Joshi has threatened him with police complaint about his cleverly Photoshopped image
If you believe Google trends, this election is a runaway win for Modi

If you believe Google trends, this election is a runaway win for Modi

It’s fairly clear: Congress hasn’t managed to get its message out.  If you ask Google Trends, this election is over. The writing is on the wall. PM Narendra Modi is all set to win

Propagandist Dhruv Rathee mocks Manohar Parrikar’s death to score political brownie points

Earlier, too, Rathee was caught speaking the same language as that of Pulwama attack terrorist by mocking 'cow urine drinkers'
The Quint lies, twists and tortures CVoter data to make it say that the Modi wave is over. Here is what the data actually says

The Quint lies, twists and tortures CVoter data to make it say that the Modi wave is over. Here is what the data actually says

Leftist portal The Quint published an article headlined "Modi wave over? Why pollsters are scaling down projections for BJP" based on CVoter data, where the data itself was twisted, selectively quoted and misrepresented

Two AAP MLAs lunged towards Kejriwal and one punched him such that his glasses fell off, claims Kapil Mishra

AAP MLAs reportedly beat up Kejriwal so much that he has injured his knees and could not walk properly

Mamata Banerjee sends kurtas and sweets for him says PM Modi in a freewheeling chat with filmstar Akshay Kumar

Prime Minister Modi's informal interaction with film star Akshay Kumar leads to a meltdown of 'journalists'

After getting Bangladeshi actors to campaign, Mamata’s TMC caught running ads in Bangladesh appealing for votes

Mamata's TMC is running as many as 13 ads on Facebook, appealing people to vote for TMC in the ongoing elections
Tehseen Poonawalla mocks people for using chalks to clean their shoes

Robert Vadra’s relative mocks Modi’s memories, exposes why Congress could never understand needs of India’s poor

Tehseen Poonawalla mocked PM and others who claimed to have used chalk to whiten their dirty canvas shoes and called them dumb.

Akhilesh Yadav targets his own ally Mayawati while falsely attributing her casteist remarks to Yogi Adityanath

Akhilesh Yadav blames Yodi Adityanath for a casteist remark against him made by Mayawati

Latest articles

Connect with us

157,416FansLike
130,517FollowersFollow
54,937SubscribersSubscribe

Don't miss these

Share This Post With Your Friends & Fans: