
Sensex, Nifty settle marginally down in volatile trade on eventful Budget day
The Hindu
Union Budget 2024: Stock markets volatile during Union Budget presentation, Sensex and Nifty fluctuate, major laggards and gainers identified.
Benchmark Sensex and Nifty settled marginally lower in volatile trade on July 23 as the government proposed to hike securities transaction tax on futures & options in the budget for 2024-25.
Recovering most of its intra-day losses of over 1,200 points, the 30-share BSE Sensex settled lower by 73.04 points or 0.09% 80,429.04.
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The index gyrated between highs and lows during the day as Finance Minister (FM) Nirmala Sitharaman announced budget proposals for 2024-25.
The barometer tanked 1,277.76 points or 1.58% to hit a low of 79,224.32 as the minister announced a hike in STT on F&O trade and an increase in long-term capital gains tax on equities. However, tax exemptions and customs duty cuts helped boost consumer durables and FMCG shares, aiding stocks to recover from the day’s lows.
The NSE Nifty dipped 30.20 points or 0.12% to 24,479.05. Intra-day, it dropped 435.05 points or 1.77% to 24,074.20. Among the Sensex pack, Titan jumped over 6%, followed by ITC which surged more than 5%.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers.