Vikrant Shekhawat : Feb 01, 2025, 05:06 PM
Share Market News: Union Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2025-26 in Parliament today. In this budget, giving a big relief to the middle class, annual income up to Rs 12 lakh was made tax free. However, this budget did not meet the expectations of investors in the stock market, due to which the market witnessed volatility.Stock market reaction: Sensex flat, Nifty closed in redThe stock market opened particularly on Saturday, but it witnessed volatility after the budget was presented. The BSE Sensex closed with a marginal gain of 5.39 points at 77,505.96 points, while the NSE Nifty closed with a decline of 26.25 points at 23,482.15 points.Reasons for the fall in the market after the budgetDespite the initial gain during the budget speech, as soon as it became clear that the government had not made any major announcement for the industry, the market fell sharply. Investors expressed disappointment, due to which the shares of many companies closed in the red mark.Zomato shares rise sharplyOut of 30 Sensex companies, 16 shares closed in the green, while 14 companies closed with a decline. Out of 50 Nifty 50 companies, 22 shares closed with a gain and 28 companies closed with a decline. Zomato shares saw the highest rise of 7.17%, while Powergrid shares closed with a decline of 3.71%.Shares of Maruti Suzuki and other companies riseShares of Maruti Suzuki closed with a gain of 4.98%, ITC Hotels 4.71%, ITC 3.33%, Mahindra & Mahindra 2.96%, Asian Paints 2.16%, Titan 1.81%, IndusInd Bank 1.76%, Bajaj Finance 1.58%, Hindustan Unilever 1.45%, Axis Bank 1.24%, Bajaj Finserv 0.98%, Nestle India 0.50%, Kotak Mahindra Bank 0.38%, ICICI Bank 0.24% and Sun Pharma shares closed with a gain of 0.05%.Shares closed with a declineAt the same time, shares of Larsen & Toubro closed with a decline of 3.36%, NTPC 2.04%, UltraTech Cement 2.03%, HCL Tech 1.87%, Tech Mahindra 1.65%, Infosys 1.50%, Adani Ports 1.47%, Tata Motors 1.38%, Tata Steel 1.26%, State Bank of India 0.91%, TCS 0.86%, HDFC Bank 0.55% and Bharti Airtel closed with a decline of 0.26%.ConclusionThis budget gave great relief to the middle class, but failed to meet the expectations of the market. Investors will now keep an eye on the upcoming economic reforms and policies of the government, which will determine the direction of the market.