New Delhi:
After the introduction of the Union Budget on 1 February, the stock market saw fluctuations. Investors did not see much of the retail investors in the budget and much for the market, causing confusion in the sharing.
Market boom before budget
Before the budget was presented, there was a boom in the 30 -share BSE benchmark Sensex and Nifty. The Sensex opened at 77,637.01, while the Nifty reached 23,528.60.
Market declines after budget
As soon as Finance Minister Nirmala Sitharaman’s budget speech was over, the Sensex fell 494.1 points to 77,006.47 in the afternoon business. The Nifty also fell 162.35 points to 23,346.05. However, the market later made some improvement and the Sensex fell to 77,509.90, while the Nifty came to 23,495.30. Earlier, there was a steady rise in the market in the last four business seasons.
Which companies fell and which increased?
Zomato, Maruti. While shares of Bajaj Finserv, Ultratech Cement, L&T, Power Grid, Power Grid, Tata Steel and State Bank of India (SBI) fell.
Foreign investors’ trend
Foreign institutional investors (FII) sold shares worth Rs 1,188.99 crore on Friday, which put pressure on the market. On Friday, the Sensex rose 740.76 points to close at 77,500.57, while the Nifty rose 258.90 points to 23,508.40.