Budget 2020: Sensex, Nifty turn cautious; forex market remains closed
Synopsis
Sensex was trading over 150 points higher ahead of the Budget presentation
Market benchmarks Sensex and Nifty turned cautious in late-morning trade on Saturday as Finance Minster Nirmala Sitharaman began presenting the Union Budget 2020-21 in Parliament.
After gyrating over 450 points in the morning session, the 30-share BSE Sensex was trading 30.84 points, or 0.08 per cent, higher at 40,754.33 at 1130 hours.
Similarly, the 50-share NSE Nifty advanced 10.35 or 0.09 per cent, to 11,972.45.
Sensex was trading over 150 points higher ahead of the Budget presentation.
Presenting the Budget for 2020-21, Sitharaman said fundamentals of the economy were strong and inflation had been well contained, while banks cleaned up accumulated loans.
She said this Budget is aimed at boosting income and purchasing power of people.
Top gainers in the Sensex pack included Maruti, HUL, Bajaj Finance, UltraTech Cement, TCS, Asian Paints and Bajaj Auto.
However, PowerGrid, NTPC, Tech Mahindra, Tata Steel and ONGC were trading in the red.
The forex market remained closed for the weekend.
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.