Budget 2020 LIVE: Sensex, Nifty Turn Flat As Nirmala Sitharaman Presents Budget
Budget 2020 Live: The S&P BSE Sensex and NSE Nifty 50 indexes turned flat as Finance Minister Nirmala Sitharaman presented Budget 2020-21.
Budget Live:Â The S&P BSE Sensex and NSE Nifty 50 indexes were trading in choppy manner as Finance Minister Nirmala Sitharaman presents Budget 2020. In the opening deals, ahead of the Budget , Sensex fell as much as 279 points and the Nifty 50 index briefly fell below its symbolically important level of 11,900 mirroring losses in US markets after President Donald Trump declared a US public health emergency in response to the coronavirus outbreak in China and ordered up to 14-day quarantine for citizens returning from China’s Hubei province and denying entry to some foreigners. The Dow Jones shed 603 points, or 2.1 per cent to settle at 28,256, the S&P lost 58 points or 1.7 per cent to end at 3,225 and Nasdaq Composite retreated 148 points, or 1.6 per cent to close at 9,150. Prime Minister Narendra Modi’s government is likely to increase state spending on infrastructure and offer some tax incentives in its 2020/2021 budget, aiming to get growth back up from its lowest in a decade.
Budget 2020: Here are the Live stock market (Nifty and Sensex)Â updates:
Healthcare Shares Rise After Government Proposes To Set Up More Hospitals
Shares of hospital operators rose after the Finance Minister Nirmala Sitharaman in Budget 2020 proposed to set up new hospitals under the Ayushman scheme. Ms Sitharaman proposed private public partnership (PPP) model for setting 112 hospitals in aspirational districts.
- Apollo Hospitals rose 1.2%
- Dr Lal Pathlabs rose 2.4%
- Aster DM Healthcare rose 1.6%
- Metropolis Healthcare rose 3.7%
Market Update: Sensex, Nifty Turn Choppy As Finance Minister Presents Budget
The share markets turned flat and were trading in a choppy manner as Finance Minister presents Budget for Financial Year 2020-21. The Sensex was up 9 points at 11,971 and the NSE Nifty 50 index was 32 points at 40,755 .
Committed To Goal Of Doubling Farm Income, Says Finance Minister
Shares of companies engaged in making agriculture equipment and fertilisers rose after the Finance Minister said that under “Aspirational India” first point is agriculture, irrigation and rural development. The government is committed to doubling farmers’ income by 2022, Ms Sitharaman added.
- Jain Irrigation rose 4.89%
- Finolex Industries rose 0.86%
- Chambal Fertilisers rose 0.88%
- Tata Chemicals rose 0.2%
- GSFC rose 1.9%
Maruti Suzuki Rises After Sales Rise Nearly 2% In January
Maruti Suzuki stock has raced ahead on the BSE after automobile manufacturer reported a 1.6 per cent rise in year-on-year sales in January this year. The stock was trading higher by 140 points or 2 per cent at Rs 7,052 on the BSE compared to BSE’s gains of 127 points or 0.3 per cent at 40,850.
The automobile major sold a total of 1,54,123 vehicles in January 2020 compared to 1,51,721 vehicles in the same month last year, the company said in a regulatory filing. The total sales in January included 1,42,250 units in the domestic market, 2,249 units of domestic OEM sales and 9,624 units of exports.
Out of a total 1,51,721 vehicles sold in the same month last year, a total of 142,150 units were sold in the domestic market 9,571 vehicles were exported outside the country.Sales in the mini segment – including Alto, S-Presso and Old Wagon models – gained 10.8 per cent to 25,885 cars. ‬
In the compact segment, which includes Celerio, Ignis, Swift and New Wagon R models, the sales gained 11.6 per cent to 84,340 cars, Maruti Suzuki said.
