Budget Stock Market: Union Finance Minister Nirmala Sitharaman introduced Budget 2024 on Saturday (01). This time the budget focused on strengthening the growth along with increasing the power to spend the middle class. The budget on the market was almost flat and the BSE Sensex closed at 77,506 with a slight increase of 0.01%. The Nifty closed at 23,482 with a slight decline of 0.11%. At the same time, a mixed response was observed in the broad market on the proposed policies under the budget 2025.
Consumer Goods Sector climbed 3%
Fast Moving Consumer Goods Index climbed 3% in today’s business. It was its best performance in the last eight months. This index rose after the government announced the announcement of tax free till the income of Rs 12 lakh. Hindustan Unilever, Nestle and Dabur climbed 1.5% -2%. There was no tax increase on tobacco products in the budget, the shares of cigarette companies ITC and Godfrey Philips India increased by 3.4% and 10.3% respectively.
Officials of automobiles and consumer companies say that this step will increase the income spending in the hands of people. Also, consumption will be encouraged in the country.
Auto index is also happy, climbed 2%
The shares of two -wheeler companies Bajaj Auto, Hero MotoCorp and Eicher Motors climbed between 1.4% and 4%. This led to the auto index more than 2%. Market experts say that tax relief will increase the income spent with the consumer. Due to this, auto shares jumped today. Shares of major auto companies like Maruti Suzuki and Hyundai Motor India climbed 5% and 4.4%.
Santosh Iyer, MD and CEO of Mercedes-Benz India, said, “India is considered as a long-standing garden, however, this budget not only to increase consumption and strengthen the MSME sector It is expected to enrich. ”
Realty Index climbed 3.4%, best performance after 6 June 2024
After the budget, there was a great jump in the realty index. The index climbed 3.4%. It was the best performance after June 6, 2024. Phoenix climbed 7.5% of realty shares.
Signature Global (India) Limited Chairman Pradeep Aggarwal said, “The Union Budget 2025 is going to bring a significant change, which strengthens India’s overall development and sustainable urban development commitment. Swami Fund 2 with ₹ 15,000 crore will accelerate the completion of halted housing projects. This will provide relief to more than one lakh home buyers. Urban Challenge funds of ₹ 1 lakh crore will play an important role in developing cities, which will ensure balanced regional development. ”
Infrastructure sector disappointment, 1.1% index
In this budget, in the budget, there was a ‘slight’ increase in the Capital Expenditure (slight ‘in the budget, and the index slipped by infra and the index closed down 1.1%. The index in L&T shares declined by 3.4%. This is the biggest decline of one day’s shares of the most realty company since October 25, 2024. The shares of Ultratech, the country’s largest cement manufacturer, closed down 2%. It fell to 6% in Intrade.
In addition, the shares of the construction company IRCON International closed down 9.3% and were the worst performing stock in the Nifty 500 index.
Insurance sector shares decline
Shares of HDFC Life, SBI Life and ICICI Prudential Life have fallen by 1 to 3%. In fact, the government made the income up to Rs 12 lakh tax free. Increase in tax slab reduces the incentive in tax-sending insurance products.