The Union Budget for the fiscal year 2025-25 was announced in the parliament by the Union Finance Minister Nirmala Sitharaman. The speech lasted for about 1 hour and 15 minutes.
Markets React To Union Budget
The Union Budget has elicited a lukewarm and largely negative reaction from the Indian equity markets. The benchmark Indian indices diminished in value as the special day of trade progressed further.
The BSE Sensex, the oldest index in Asia, after a cautious start and even gaining up to 300 points, declined in value.
Sensex and Nifty Waver
The benchmark indices, Sensex and Nifty have wavered in value throughout the day.
After making some gains earlier in the day, the indices dropped in value, depleting all the gains. However, later on, the markets recovered slightly
The Sensex, at the time of writing, dropped in value by 130.86 points or 0.17 per cent. This took the overall value of the index to 77,369.71.
The Nifty bank index slumped to 49,454.50 points after declining by 132.70 or 0.27 per cent.
| Image: Wikipedia (Representative)
Things were no different at the National Stock Exchange end, as the Nifty Index also vacillated on Saturday.
At the time of writing, the Nifty index dropped in value, slumping to 23,493.00, after losses of 15.40 points or 0.07 per cent.
The Nifty bank index slumped to 49,454.50 points after declining by 132.70 or 0.27 per cent.
Major Gainers and Losers
Some of the major gainers include Zomato and with major gains of 7 per cent.
Other than Zomato, Maruti, ITC, Titan, Hindustan Unilever or HUL were trading with major gains.
When we look at the losers, the likes of L&T, who made crucial gains yesterday, dipped in value, dropping by 4 per cent. Powergrid also lost in excess of 3 per cent.
Tech Mahindra, Tata Steel and HCL Tech lost their value at the equity markets on a day, when the indices shifted from red to green and back to red.
