Stock Market Closing On February 1: Sensex At 71,645.30, Nifty Below 21,700; Indices End Day In Red

The benchmark indices ended lower on Thursday.

The 30-share BSE Sensex closed at 71,645.30, down by 106.81 points or 0.15 per cent. Meanwhile, the NSE Nifty ended the day at 21,697.45, shedding 28.25 points or 0.13 per cent.

Nifty Bank gained 191.50 points or 0.42 per cent at 46,188.30.

From the Sensex pack, Maruti, PowerGrid, Axis Bank, NTPC, and SBI were among the major gainers whereas UltraTech Cement, LT, Titan, JSW Steel, and Bajaj Finance were among the laggards.From the Nifty pack, Maruti, Cipla, PowerGrid, Eicher Motor, and SBI Life were the major gainers whereas UltraTech Cement, LT, Sr Reddy, Grasim, and JSW Steel were among the losers.

Market on Thursday morning

The markets opened higher on Thursday with Sensex at 71,974.70, up by 222.59 points, and Nifty at 21,753.45, up by 27.75 points. Nifty Bank in the morning session was trading higher at 46,076.90, up by 80.10 points or 0.17 per cent.

Interim Budget

The Union Finance Minister Nirmala Sitharaman presented the Interim Budget in Parliament, preceding the Lok Sabha Elections. This interim budget is a prelude to the comprehensive budget for the financial year 2024-25, which will be presented later.

Notably, the taxation structure remains unchanged in this budget. The government’s key focus lies in empowering the impoverished, farmers, youth, and women. An 11.1 per cent increase in the capital expenditure outlay for the next year, reaching Rs 11.11 lakh crore. The country’s capital spending for 2024-25 has seen an 11 per cent elevation to Rs 11.11 lakh crore, equivalent to 3.4 per cent of GDP.

Additionally, the government plans to establish a Rs 1 lakh crore corpus through a 50-year interest-free loan, dedicated to amplifying Research and Development efforts in emerging sectors.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!