Stock markets open higher on Budget day 2024, investors await policy announcements
This uplift follows a dip in the markets on Monday, when equity benchmarks closed lower after reaching record highs the previous Friday. The Sensex fell by 102.57 points to 80,502.08, and the Nifty dropped 21.65 points to 24,509.25, with heavy selling pressure on Reliance Industries and Kotak Mahindra Bank.
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FollowThe Indian stock markets on Tuesday (July 23) started on a positive note, buoyed by gains in financial and public sector stocks as investors await key policy announcements in the Union Budget. The NSE Nifty 50 climbed by 0.24% to reach 24,568.9, while the S&P BSE Sensex saw an increase of 0.28%, settling at 80,724.3.
This uplift follows a dip in the markets on Monday, when equity benchmarks closed lower after reaching record highs the previous Friday. The Sensex fell by 102.57 points to 80,502.08, and the Nifty dropped 21.65 points to 24,509.25, with heavy selling pressure on Reliance Industries and Kotak Mahindra Bank.
Budget 2024: FM Nirmala Sitharaman poses with red-sleeve tablet ahead of budget presentation
The Economic Survey highlighted concerns about potential overconfidence and speculation in the stock market, noting that while India's markets performed exceptionally well—Nifty 50 surged by 26.8% during FY24 and the Sensex surpassed 80,000—there is caution against unrealistic expectations.
Today's Budget presentation marks a significant milestone for Finance Minister Nirmala Sitharaman, as it will be her seventh consecutive Union Budget. This achievement surpasses the record set by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget.
Sitharaman's tenure also surpasses that of former Prime Ministers Manmohan Singh and Pranab Mukherjee, both of whom delivered five consecutive budgets.
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