Stock markets: The Indian benchmark index closed in the fourth consecutive session on 31 January and Nifty reached above 23,500 amidst purchasing in all sectors before the Union Budget. At the end of the trading session, the Sensex rose 740.76 points or 0.97 per cent to 77,500.57 and the Nifty increased by 258.90 points or 1.11 per cent to close at 23,508.40. Today about 2635 shares rose, 1131 shares declined and 120 shares did not change. The highest growing shares of Nifty include Tata Consumer, Trent, India Electronics, Nestle India, L&T. While the damage shares included Bharti Airtel, ICICI Bank, Bajaj Finserv, Apollo Hospitals and JSW Steel.
All the sectoral index closed in the green mark today. Consumer durables, oil and gas, power, PSU, realty, FMCG each gained 2 percent. While the Capital Goods index saw a rise of about 4 per cent. BSE Midcap and Smallcap indexes recorded a gain of about 2 percent.
Aditya Gaggar director of progressive shares Says that the last day of the month was named after Tejdis. Today, the attitude of the index was fast from the beginning. At the end of the trading session, the Nifty closed at 23,508.40 with a gain of 258.90 points. All sector closed in green mark. In which Energy and FMCG were the best performing. Mid and Smallcap space recorded 1.89 per cent and 2.11 per cent. He performed better than the frontline index.
With a strong bullish candle, Nifty has confirmed its Flying Wage Formation Breakout, but can see high volatility with the Union Budget announcement tomorrow. Support is seen on 23,400 for Nifty. The market trend remains positive. Registration is visible at 23,740-23,860 for the top nifty.
Prashant Tapse of Mehta Equality Says that the market was in a rift in the fourth consecutive trading session today. Before the budget announcement, the benchmark indexes saw a great lead. Along with this, strong global signals also helped in improving the sentiment. Equity markets gained momentum after the ECB cut interest rates by 25 basis points. This also softened the American bond yield. Now the focus of traders will be on the budget and the steps to be declared by the government to promote the economy.
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Today shares consumed have a strong rise. Tata Consumer Products and Nestle India Nifty FMCG Index Stayed in the top gainers of. Many brokerage and market experts say that the government can make some changes in income tax for salaried class in tomorrow’s budget. Which will increase cash to spend people. This will lead to an increase in consumption in all sectors. Taxpayers may get tax relief through basic exemption limit or standard deduction. If any of these measures are applied, then it will see positive effect on consumer goods consumption.
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