Markets Highlights: After 'Amrit Kaal' Budget, stocks rise, then fall; close on subdued note

Markets reversed earlier gains to end lower on Wednesday, led by a fall in insurance companies after the Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled.

After soaring up to 1,200 post-Budget, reversing direction, markets closed in green on Wednesday. Sensex, Nifty pared day-end losses

Nifty closed at 17,616.30, down 45.85 points or 0.26%. Sensex closed at 59,708.08, up 158.18 points or 0.27%.

Most traded on BSE Sensex

All Nifty sectoral indices, except FMCG, IT, down

Top gainers, losers on Nifty 50

ITC, Tata Steel, HDFC Bank among top gainers on BSE Sensex

After positive cues from Budget in the morning, markets moved to the red zone in teh afternoon session; Sensex currently trading over 300 points lower, Nifty down over 200 points

Markets retreat from earlier gains; Most banking stocks on BSE Sensex up

Most stocks trade in green on BSE Sensex; ITC up over 3% after announcement on cigarettes

Sensex up over 1.9% or 1150 points; Nifty up nearly 300 points

Markets cheer Budget 2023: Sensex up over 800 points; Nifty up over 230 points

Sitharaman on startups: Date of incorporation extended

Integrated IT portal will be set up for reclaiming unclaimed shares and dividends: FM Sitharaman in Budget

Credit guarantee for MSMEs - Rs 9000 crores infused in the corpus which will allow additional collateral-free credit of Rs 2 lakh crores; to be effective from 1st April 2023: FM Sitharaman

Markets pare gains; Sensex now up 400 points

Sitharaman's key announcements

-- PM Vishwa Karma Kaushal Samman - package of assistance for traditional artisans and craftspeople has been conceptualized, will enable them to improve quality, scale and reach of their products, integrating with MSME value chain
-- Economic agenda for our vision focuses on 1) facilitating opportunities for citizens, 2) providing strong impetus to growth and job creeation and 3) strengthening macroeconomic stability
-- Deen Dayal Antyodaya Yojana has achieved remarkable success by mobilizing rural women into 81 lakh SHGs, we will form Large Producer Enterprises to help these SHGs reach next stage of economic empowerment"
-- Indian economy has increased in size from being tenth to 5th largest in the world in the last 9 years, we have made significant progress in many SDGs, economy has become lot more formalized, efficient implementation of schemes has brought about inclusive development
-- 5,300 crore allocates for drought prone Karnataka
-- PM Awaas Yojana outlay increased to 79,000 crore
-- The world has recognized India as a bright star, our growth for current year is estimated at 7.0%, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war
-- This is the first budget in Amrit Kaal, this budget hopes to build on the foundation laid in previous budget and the blueprint laid for India@100, we envision a prosperous and inclusive India in which the fruits of development reach all

Sensex up 1% as Sitharaman presents Budget

FM Sitharaman begins her speech in Parliament

All stocks except Sun Pharma, M&M in green

NIFTY 50 currently at 17,811.25, up 149.10 points

Sensex tests 60,100 ahead of Budget announcement

Top performing stocks on BSE

Top performing stocks on Nifty

Infographic | How markets reacted to Budgets in the past

The Union Budget is the most important trigger for market movement. Now, as India prepares for yet another Budget, let us have a look at how the market reacted to Union Budgets in the past under the Modi government.

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Shares rise ahead of Union Budget

Indian shares rose on Wednesday ahead of the Union budget, which will be closely vetted by investors for government measures to aid the long-term growth of the economy with a global slowdown in the vicinity.

The Nifty 50 index rose 0.66 per centto 17,777, while the S&P BSE Sensex rose 0.7 per centto 59,963.63 as of 09:15 amIST. Both benchmarks fell over 2 per centin January, their second straight monthly loss.

Finance Minister Nirmala Sitharaman will present the Union Budget at 11:00 amIST, in which the Indian government will likely seek to lower its fiscal deficit while offering incentives for investment to taxpayers. (Reuters)

Rupee rises 10 paise to 81.78 against US dollar in early trade

Top gainers from NSE

Nifty opens in green, trades at 17,792

Sensex opens in green, currently up by 437.32 points and trading at 59,987.22

SGX Nifty in green indicates positive trends in Indian market

Buoyancy in tax collections to help meet 6.4% fiscal deficit target in FY23

In the Union Budget 2022-23 presented on February 1, 2022, Finance Minister Nirmala Sitharaman had pegged thefiscaldeficitat 6.4 per cent of GDP.

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Budget needs to be growth-oriented in line with economic outlook of India: USISPF

This year's annual budget needs to be a growth-oriented one in line with the country's economic outlook, a top American India-centric strategic and business advocacy group said Tuesday. The previous budgets were focused on pandemic recovery.

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