Stock Market Highlights: Nifty, Sensex End Budget Day On Muted Note; L&T, Infosys Top Draggers

During Sitharaman's speech, the Indian benchmarks erased morning gains and fell to the day's low. The Nifty 50 declined 0.81% to 23,318.30, and the Sensex fell 0.64% to 77,006.47.

Ananya Chaudhuri

01 Feb 2025, 04:07 PM IST i

<div class="paragraphs"><p>The Nifty 50 ended 0.11% or 26.25 points down at 23,481.15, and the Sensex ended 0.01% or 5.39% higher at 77,505.96 on Saturday. (Photo source: NDTV Profit)</p></div>

The Nifty 50 ended 0.11% or 26.25 points down at 23,481.15, and the Sensex ended 0.01% or 5.39% higher at 77,505.96 on Saturday. (Photo source: NDTV Profit)

The NSE Nifty 50 and BSE Sensex ended the Budget day on a muted note, as traders assessed the impact of announcements made by Finance Minister Nirmala Sitharaman.

The Nifty 50 ended 0.11% or 26.25 points down at 23,481.15, and the Sensex ended 0.01% or 5.39% higher at 77,505.96 on Saturday.

During Sitharaman's speech, the Indian benchmarks erased morning gains and fell to the day's low. The Nifty 50 declined 0.81% to 23,318.30, and the Sensex fell 0.64% to 77,006.47.

The most appreciated announcement in the budget was the tax slab raise to Rs 12 lakh per annum income from Rs 7 lakh per annum. The new tax slab is only applicable for New Tax regime.

“This budget puts more money in people’s hands, which should give a solid boost to consumption, consumer durables, and tourism. The MSME sector incentives will boost manufacturing. Manufacturers of lithium-ion batteries and electronics, thanks to lower import duties will also be benefited. The big push on shipping—especially inland shipping—will give the industry a much-needed boost," said Deepak Shenoy, chief executive officer and founder, Capitalmind.

With a lower fiscal deficit, we could see interest rates come down, making room for potential rate cuts. That, in turn, should spur private capex and encourage more lending by banks and NBFCs, further driving economic growth, he said.