Sensex ends Interim Budget session 107 pts down; PSBs shine, Paytm dips 20%
The Nifty ended below 21,700, down 28 points. Maruti, Power Grid, Axis Bank and SBI were the top Sensex 30 gainers, while L&T shed 2 per cent on Thursday. Rail stocks slipped on profit-taking.
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Stock market highlights on February 01, 2024: Equity benchmark indices ended the Interim Budget Day trading session with modest losses amid lacklustre moves post the Budget FY25 porposals announced by finance minister Nirmala Sitharaman, wherein she stuck to the fiscal consolidation path.
The S&P BSE Sensex hit a high of 72,151, and thereafter drifted into red to a low of 71,574. The Sensex eventually ended the day with a loss of 107 points at 71,645.
The NSE Nifty 50 had topped the 21,800-level in intra-day deals, but finished 28 points lower at 21,697.
Among individual shares, Paytm tanked 20 per cent after the Reserve Bank of India halted nearly all transactions of its digital payment unit Paytm Payments Bank (PPBL).
Maruti up over 4 per cent, was the top gainer among the Sensex 30 stocks. Power Grid Corporation, Axis Bank, SBI and NTPC were the other major gainers.
On the other hand, Larsen & Toubro and UltraTech Cement dropped over 2 per cent each. JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra, Nestle, Bharti Airtel and Asian Paints were the other notable losers.
Broader indices also settled in red. The BSE MidCap index was down 0.4 per cent, while the SmallCap shed 0.2 per cent.
Shares of PSU Banks outperformed on Thursday, with PSB up 6 per cent. IOB, Indian, Bank, UCO Bank, Bank of India, Canara Bank and PNB were the other major gainers, up over 4 per cent. Also read: Key levels to track on PSU Banks
Meanwhile, shares of railway related companies witnessed profit-taking post Budget. RVNL, IRFC, IRCTC, RailTel, RITES, Jupiter Wagons declined 2-5 per cent.
Among individual shares, Paytm tanked 20 per cent after the Reserve Bank of India halted nearly all transactions of its digital payment unit Paytm Payments Bank (PPBL).
4:03 PM
BSE Smallcap Heatmap:: ITDC, HUDCO zooms 20%; India Cement tanks 7%
4:02 PM
BSE Midcap Heatmap:: PUS Banks shine; Aurobindo, Voltas tumble
3:59 PM
Sectoral ALERT:: Nifty PSU Bank index soars 3%; PSB, IOB lead
3:57 PM
Broader Market Check:: MidCap, SmallCap indices dip around 0.5%; India Vix falls 10%
3:55 PM
Nifty50 Movers & Shakers:: Maruti, Power Grid shine; Grasim, L&T crack
3:53 PM
Sensex 30 Heatmap:: 9 Gainers v/s 21 Losers
3:52 PM
CLOSING BELL:: NSE Nifty50 settled with a loss of 28 pts at 21,697
3:49 PM
CLOSING BELL:: S&P BSE Sensex ends 107 pts lower at 71,645
3:29 PM
Strong emphasis on fiscal consolidation and public investment: Sujan Hajra
Given the robust tax buoyancy seen in recent years and the govt's modest expenditure plans, it is conceivable that the actual fiscal outcomes next year may surpass the budget's projections. READ MORE
3:21 PM
Earnings ALERT:: Titan Q3 net up 15%; stock slips 2%
Titan today reported a 15.4 per cent growth in Q3 consolidated net at Rs 1,053 crore for the quarter ended December 2023 as against Rs 913 crore in the year ago quarter. Total income jumped 24.1 per cent YoY to Rs 14,122 crore from Rs 11,383 crore.
3:13 PM
SBI, BoB, PSB: Track of these levels while riding the rally in PSU Banks
The Nifty PSU Bank index was the top performing sector post Interim Budget on Thursday; the index was up almost 12 per cent in the last four days. READ MORE
2:53 PM
Maruti posts highest ever monthly sales at 199,364 in January
Maruti Suzuki India sold a total of 199,364 units, which is its highest ever monthly sales volume. This is against 172,535 units sold in January last year.
2:50 PM
Budget 2024: Sitharaman bats for developing iconic tourist destinations
Finance Minister Nirmala Sitharaman, in her Budget speech on Thursday, announced that states will be encouraged to undertake development of iconic tourist destinations.
The finance minister announced that long-term interest-free loans will be provided to states for financing the development of iconic tourist centres on a matching basis, and for branding and marketing them at a global scale. Read
The finance minister announced that long-term interest-free loans will be provided to states for financing the development of iconic tourist centres on a matching basis, and for branding and marketing them at a global scale. Read
2:34 PM
Aurobindo Pharma sinks 10% as formulation unit undergoes US FDA inspection
Shares of Aurobindo Pharma slipped 10 per cent to Rs 1,035.45 on the BSE in Thursday’s intra-day trade after it said US drug regulator is inspecting Unit 4 in Telangana. Read
2:16 PM
Aether Industries dips 3% as Q3 profit halves
Net Profit for Q3 dropped 50% YoY to Rs 17.4 crore.
Topics : MARKET WRAP MARKET LIVE Markets Sensex Nifty stock market trading S&P BSE Sensex Gift Nifty Indian equity markets Stocks in focus Railway Budget infra stocks US Federal Reserve
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First Published: Feb 01 2024 | 7:41 AM IST