Mumbai, February 1: Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022 in the parliament. The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) extended their opening gains and were trading over 1.1 percent higher in the morning deals on Tuesday ahead of the Union Budget 2022.
The index on Monday closed at 58,014.17, clocking a gain of 813.94 points (1.42 percent). Likewise, the broader NSE Nifty rallied 237.90 points (1.39 percent) to end at 17,339.85. Stay with LatestLY for the latest updates and highlights of Stock Markets. Sensex Falls Over 900 Points in Early Trade, Nifty Slips Below 17,000.
The BSE Sensex was opened at 58,526.90, up 512.73 points (0.88 percent), while the broader Nifty 50 was up 141.85 points (0.82 percent) at 17,481.70, on the day of the Union Budget 2022 presentation. Meanwhile, the Indian rupee surged by 19 paise, standing at 74.46 against the US dollar on Monday.
Sensex was trading over 750 points higher during the beginning of the presentation of the Union Budget 2022 in Parliament. Meanwhile, Bank Nifty was up 2% as FM Sitharaman started addressing the Parliament to present the Union Budget 2022. ICICI Bank, Axis Bank, IndusInd Bank were among the top gainers during these conditions. However, Tata Motors stocks fell over 3.5 percent to Rs 498.55 apiece on Tuesday. Union Budget 2022-23 Highlights: Cryptocurrency Income to be Taxed At 30%, No Change In Income Tax Slabs; Here Are Key Takeaways.
By 11:30, Sensex at the BSE was up 850 points (1.5 percent) trading at 58,870 ahead of the budget presentation by FM Nirmala Sitharaman. Meanwhile, Nifty is seeing a gain at around 17,550. With the announcement of PM Gati Shakti Master Plan for Expressways, stocks of Road Development companies rose. Shares of IRB Infra, Ashoka Buildcon, and Dilip Buildcon saw a rise of over 2 percent.
With an announcement of 400 new-generation Vande Bharat trains, Shares of steel companies saw a sharp rise. Companies like Tata Steel, Jindal Steel, and Power, JSW Steel were trading 1-2 percent higher. At 12:30 pm, the Sensex soared up to 59,000, while Nifty tested around 17,600.
At 1:30 pm, the Sensex slumped as much as 1,294.5 points from the day's high, now at 57,737.7. The Nifty50 slid to as low as 17,244.6, shedding 377.9 points from the highest level of the day. TVS Motor Company shares rose as much as 2.5 percent to Rs 620.5 a piece on BSE, while Maruti Suzuki shares were down 1.5 percent at Rs 8,468.9 apiece on BSE.
At 3:30 pm, following the presentation of Union Budget 2022, the Sensex ended at 58,862.6, 848.4 points (1.5 percent) higher, while the Nifty50 settled at 17,576.9, up 237 points (1.4 percent).
(The above story first appeared on LatestLY on Feb 01, 2022 10:43 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).