Stock Market Crash Live Updates: Sensex and Nifty tank on STT increase in budget speech

The Nifty sectoral indices sow that the banks are down by 1.67%, financial services is down by 2.06%, IT is down by 0.43%, Metals are down by 1.60%, Pharma is down by 0.13%, Oil & Gas is down by 1.87%, and Auto is down by 0.17%.

FMCG on the other hand is up by 2.5%.

Up to 3,00,000: Nil

From 3,00,000 to 7,00,000: 5%

From 7,00,000 to 10,00,000: 10%

From 10,00,000 to 12,00,000: 15%

From 12,00,000 to 15,00,000: 20%

Above 15,00,000: 30%

The benchmark Sensex plummeted by over 900 points, reaching ₹79,515.64, a loss of 986.44 points.

The benchmark Sensex plunged 1.09 % or 876.39 points to 9,625.69, while the Nifty fell 1.09% or by 267.30 points to 24,241.95.

The Finance Minister has proposed to exempt customs duty on 25 critical minerals including Lithium and Cobalt due to their applications in auto, nuclear, telecom, and multiple other sectors.

The benchmark Sensex plunged by 0.26 % or 209.75 points, reaching 80,292.33. The Nifty fell 0.26% or 62.65 points to 24,446.60.

Andhra Cements Ltd share prices grew 4.99% to ₹99.01, NCL Industries Ltd share was up 2.18% to ₹227.15, and Likhitha Infrastructure Ltd was up 3.70% to ₹447.15.

Kaveri Seed Company Ltd saw an 8.06% rally in share prices, reaching ₹1,045.40. Nova Agritech Ltd is up 3.74% reaching ₹72.59, and Dhanuka Agritech Ltd is up 1.05%, trading at ₹1,680.70.

The benchmark Nifty and Sensex which saw a dive half a hour into Finance Minister Nirmala Sitharaman’s budget speech has eased, with the Nifty’s losses easing to 21.95 points and the Sensex’s losses down to 29.66 points.

The Nifty FMCG index grew 1.40% or 849.50 points to 61,731.25.

The Union Budget 2024 will prioritize increasing the participation of women in the workforce, Finance Minister Nirmala Sitharaman said.

Both the Nifty and Sensex fall half an hour into Finance Minister Nirmala Sitharaman’s budget speech. The Sensex fell 0.08 % to 80,438.61, a drop of 63.47 points and Nifty fell to 24,462.95, a drop of 0.19% or 46.30 points.

The Rupee is trading at 83.6387 to the dollar, which is 0.03% lower.

The government will provide 1 month wages or salary support to all persons newly entering workforce in the formal sector, Finance Minister Nirmala Sitharaman says.

Finance Minister Nirmala Sitharaman outlined nine priorities for this year and coming years in the Union Budget 2024 including:

• Productivity and resilience in Agriculture
• Employment and skilling
• Inclusive HRD and social justice
• Mfg & services
• Urban development
• Energy security
• Infra
• Innovation, R&D
• Next generation reforms

Adani Enterprises Ltd traded up 1.07%, a gain of 32.05 points to reach ₹3,032.20. APSEZ was up to ₹1,498.85, a gain of 2.19% or 32.05 points. Adani power was up to ₹723.25, a gain of 3.89% or 27.10 points.

The benchmark Sensex gained 0.09% or 76.43 points, reaching 80,578.51 while the Nifty gained 0.02% or 4.90 points, reaching 24,514.15 as Finance Minister Nirmala Sitharaman begins her budget speech.

Finance Minister Nirmala Sitharaman will be presenting her record seventh consecutive budget at 11 am. Both the benchmark Nifty and Sensex remain in the red, losing 45 and 133 points respectively.

The Rupee is trading at 83.6413 against the US Dollar, a drop of 0.03%, with less than 15 minutes to go before the budget speech commences.

Nifty falls to 24,454.70, a drop of 0.22% or 54.55 points and the Sensex falls to 80,374.28, losing 0.16% or 127.80 points with less than 20 minutes to go before Finance Minister Nirmala Sitharaman presents the Union Budget 2024.

Around 34 companies including Bajaj Finance, DCM Shriram, Heritage Foods, Hindustan Unilever, ICICI Prudential, ICICI Securities, ICRA, Indoco Remedies, Kajaria Ceramics, Mahindra and Mahindra Financial Services, Schaffler India, Sharda Cropchem, SRF, Steel Strips Wheels, Thyrocare Technologies, Torrent Pharmaceuticals, and United Spirits are to announce their Q1 2024-25 financial results today.

The Sensex is down by 145 points and Nifty is down by 65 points ahead of Finance Minister Nirmala Sitharaman’s budget speech.

Nifty Bank index down 0.23% or 122.65 points to 52,157.75 points, Nifty PSU Bank index down 0.27% or 19.75 points to 7,301.75 points.

Sensex remains flat at 80,384.82, a drop of 0.15% or 117.26 points. Nifty drops to 24,454.10, a 0.23% drop of 55.15 points.

The Nifty Metals index dropped by 1.35% or 126.55 points to 9,224.05 points, dragged down by Vedanta, NALCO, and Hindustan Copper.

The yield of the 10-year sovereign Indian government bond opened at 6.9662 % today, compared to the previous close of 6.9663%.

Finance minister Nirmala Sitharaman has reached the Parliament with the red tablet for her record 7th Budget speech.

The Sensex loses 0.03% or 21.83 points, dropping to 80,480.25 and the Nifty loses by 0.04% or 10.10 points, falling to 24,499.15.

Auto, defence, real estate, power, and railways will be the sectors in focus as the Union Budget 2024 will be presented at 11 am.

HDFC Bank plunges by 10.60 points, RIL loses 11.20 points and HCLTech falls by 12.85 points.

The Rupee opened at 83.64 against the US Dollar, compared to the previous close of ₹83.66, a drop of 0.22%.

UltraTech Cements gains 1.53% at ₹11692.15, followed by M&M, up by 1.29 % at ₹2840.40 and NTPC, up by 0.86 % at ₹376.75.

The benchmark Nifty opened at 24,568.90, an increase of 0.24% or 59.65 points and the Sensex opened at 80,724.30, an increase of 222.22 points or 0.27%.

The benchmark BSE Sensex gained upon pre-open at 80,792.99, an increase of 0.36% or 290.91 points. The Nifty was up by 0.24% or 59.65 points to 24,568.90

JM Financial wrote in a recent note, “The continuation of existing capex agenda (infrastructure, railways, defence, renewable/clean energy), higher budgetary allocation to revive rural economy, job creation and roadmap for ‘Viksit Bharat’ by 2047 would be the key theme for the Union Budget 2024-25.”

Brokerage house Emkay said in a recent note that the budget is likely to continue signaling fiscal consolidation both for the short and medium term, mirroring the policies seen in the interim budget.

The benchmark indices ended lower on July 22, with the Sensex closing at 80,502.08, a dip of 0.13% or 102.57 points. The Nifty closed at 24,509.25, a dip of 0.09% or 21.65 points.

Finance Minister Nirmala Sitharaman will be presenting her seventh consecutive Union Budget in a row.