shot-button
Maharashtra Elections 2024 Maharashtra Elections 2024
Home > News > India News > Article > Budget 2024 Markets turn highly volatile after firm opening ahead of Budget

Budget 2024: Markets turn highly volatile after firm opening ahead of Budget

Updated on: 01 February,2024 10:05 AM IST  |  Mumbai
PTI |

The 30-share BSE Sensex climbed 248.4 points to 72,000.51 in early trade after beginning the day on a positive note. The Nifty went up by 62.65 points to 21,788.35

Budget 2024: Markets turn highly volatile after firm opening ahead of Budget

File Photo

Benchmark equity indices began the trade on an optimistic note on Thursday but later faced heavy volatile trends ahead of presentation of interim Budget.


The 30-share BSE Sensex climbed 248.4 points to 72,000.51 in early trade after beginning the day on a positive note. The Nifty went up by 62.65 points to 21,788.35.


Later, both the benchmark indices hit choppy waters and were trading between highs and lows.


Among the Sensex firms, Mahindra & Mahindra, Maruti, Power Grid, NTPC, IndusInd Bank and Sun Pharma were the biggest gainers.

Larsen & Toubro, Titan, Bajaj Finserv and JSW Steel were the major laggards.

Goods and Services Tax collections jumped 10.4 per cent to over Rs 1.72 lakh crore in January, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms.

In Asian markets, Seoul, Shanghai and Hong Kong quoted in the green while Tokyo traded lower.

The US markets ended sharply lower on Wednesday.

The US Fed on Wednesday left its main interest rate steady and made clear it "does not expect it will be appropriate" to cut rates "until it has gained greater confidence that inflation is moving sustainably towards" its goal of 2 per cent.

"Wall Street took a hit overnight with the Dow down 0.8 per cent, the S&P 500 off 1.6 per cent, and the Nasdaq tumbling 2.2 per cent amid disappointing earnings from Alphabet. The Fed's decision to keep interest rates steady further fuelled selling across indexes. Investors now await Finance Minister Nirmala Sitharaman's interim Budget presentation, hoping for measures to boost economic growth and control deficits," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

On a positive note, January's GST collections hit a record high of Rs 1.72 lakh crore, he added.

Global oil benchmark Brent crude declined 1.40 per cent to USD 81.71 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,660.72 crore on Wednesday, according to exchange data.

The Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11 on Wednesday. The Nifty climbed 203.60 points or 0.95 per cent to 21,725.70. 

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK