Union Budget 2019 On Stock Market: Sensex Reclaims 40,000 Mark, Nifty Nears 12,000 Ahead Of Nirmala Sitharaman's Budget 2019 Speech

Union Budget 2019

Domestic equity benchmark BSE Sensex Friday reclaimed the 40,000 mark and the NSE Nifty inched closer to 12,000 level ahead of the Union Budget presentation.

Written By Radhika Sarkar | Mumbai | Updated On:

Domestic equity benchmark BSE Sensex Friday reclaimed the 40,000 mark and the NSE Nifty inched closer to 12,000 level ahead of the Union Budget presentation. The 30-share index was trading 114.67 points, or 0.29%, higher at 40,022.73 at 09: 30 AM. Similarly, the broader Nifty was quoting 31.85  points, or 0.27 per cent, up at 11,978.60.

The S&P BSE Sensex and NSE Nifty 50 Indexes opened higher ahead of the first full Budget of Prime Minister Narendra Modi-led National Democratic Party (NDA) government after returning to power with a resounding victory in the 2019 Lok Sabha Elections. The Budget for the financial year 2019-2020 will be the first Budget to be presented by the country's first full-time woman Finance Minister Nirmala Sitharaman. 

READ: Sensex, Nifty Start On A Positive Note Ahead Of PM Modi's Swearing-in Ceremony

Various Market participants will closely watch Budget announcements as it will set the tone for country's economic policy going ahead at the time when the economy of the country rose to 5.88, which is the slowest pace of growth in five years. 

At the time of publishing, the GMR Infrastructure shares surged as much as 5%to Rs. 15.90 after the company informed exchanges it has executed share subscription and purchase agreement with TRIL Urban Transport Private Limited (part of the Tata Group), an affiliate of GIC and SSG Capital Management for a investment of 8,000 Crores in GMR Airports Limited, which is a subsidiary of the company 

Last night, Domestic indices ended the volatile trade with gains. The indices traded in the red for better part of the day, tracking concerns on weak global growth across world markets coupled with rising trade tensions. The losses were, however, pared against last hour buying in select stocks such as HDFC twins, Infosys, Reliance and ONGC.

The S&P BSE Sensex ended 130 points, or 0.30% higher at 39,816 levels with ONGC, HDFC and Bharti Airtel being the top gainers. The broader Nifty50 too settled with gains of 45 points, or 0.38 per cent, at 11,910 levels.

READ: Sensex Up By More Than 600 Points As Early Trends Show A Return To Power Of NDA Government

In the broader market, S&P BSE Mid-Cap ended 56 points, or 0.38% higher at 14,945 levels while the S&P BSE Small-Cap gained 0.52 points to settle at 14,283 levels

Sectorally, realty scrips were under pressure with the index with ending 1.5 per cent lower. This was followed by losses in pharma and bank counters. Nifty IT index settled nearly a % higher followed by metal index, up 0.52%

 (With agency inputs) 

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