Stock market: After 5 years, trading will be done on BSE on Saturday, the market will open due to budget
- In 2015 also the budget was presented on Saturday, the stock market was open on that day also.
- Expectations of stock market announcements this time in the budget.
MUMBAI: Due to the budget, the stock market will be trading today despite Saturday. It is being told that this decision was taken on the appeal of the people associated with the market. Because, the budget announcements bring about a lot of fluctuations in the market. In 2015 too, trading was done on BSE despite budget being Saturday. The stock market is generally closed on Saturday-Sunday.
Possible announcements related to stock market
The government can give relief in long-term capital gains tax. If you earn more than one lakh rupees after selling a year after buying the stock, then it is taxed 10%. There is speculation that this tax can be abolished or its time can be increased to 2 years. Changes can also be made in the rules for dividend distribution tax.
Last year, the government increased the surcharge on super rich, later reversed the decision
Announcements for sector-specific companies on the Budget day have an impact on the stocks of sector-specific companies. Talking about the last 6 full budgets of the Modi government, the stock market was in a loss 4 times on the budget day. The budget was presented on 5 July last year. The Sensex had lost 1% on that day and the Nifty 1.14%. In the last budget, Finance Minister Nirmala Sitharaman had announced to increase the surcharge on super rich. Foreign investors were also considered within its purview. This had led to a decline in market. However, the government withdrew the surcharge hike a few days later.
