Due to the budget, today the stock market is trading despite Saturday. The market is witnessing ups and downs. The Sensex recovered after losing 279 points in early trade. It rose by 182 points to 40,905.78. However, during the budget speech, it is again seen in despair. It also dropped by 481 points to reach 40,242. It closed at 40,723.49 on Friday. The Nifty is also seen to decline. It is trading at 11817.50 with a fall of 144.60 points. With this, it touched a height of 12,017.35 shortly after the commencement of the budget speech. On Friday, it closed at 11,962.10. Currently, 25 of the 30 Sensex stocks are in loss. Hindustan Unilever, Nestle India, TCS, Infosys, and HCL Technology are the major gainers. 42 out of 50 stocks of Nifty are trading in losses. Hindustan Unilever, TCS, Infosys, HCL Technology and Cipla included in the Nifty are on the green mark. Large increase in IRCTC's stock - Just before the budget, IRCTC's stock saw a sudden rise. At one time, it gained 12.12% to reach 1,235. It closed at 1,137.15 on Friday. It is currently trading at 1,208.55, up 6.28%.
Budget session 2020: If your bank fails, then this amount will be safe in the account
The decision of trading on the appeal of the people associated with the market - it is being told that trading was decided on Saturday on the appeal of the people associated with the market. In addition, market announcements are subject to considerable fluctuations from budget announcements. In 2015 also, trading was done on BSE despite the budget being Saturday, the stock market is generally closed on Saturday-Sunday. Possible announcements related to the stock market - the government can give relief in long-term capital gains tax. If you sell more than one lakh rupees after one year of buying the stock, then it is taxed at 10%. There is speculation that this tax can be abolished or its time can be extended to 2 years. Changes can also be made in the rules for dividend distribution tax.
Budget is presented in Lok Sabha there, memes are being made on Twitter
Last year, the government increased the surcharge on the super rich, later withdrew the decision - the announcements made for the sector on the budget day have an impact on the stocks of sector-specific companies. Talking about the last 6 full budgets of the Modi government, the stock market has been in a loss 4 times on the budget day. The budget was presented on July 5 last year. The Sensex had lost 1% and the Nifty 1.14% on that day. In the last budget, Finance Minister Nirmala Sitharaman had announced to increase the surcharge on super rich. Foreign investors were also considered within its purview. This had led to a decline in the market. However, the government withdrew the surcharge hike a few days later. Finance Minister Nirmala Sitharaman has reported a fall of 200 points in the National Stock Exchange, and a fall of 600 points in the Sensex till the news is written due to lack of taxation.
