Share Market Movement on Budget 2023 Highlights: Domestic indices pared gains and slipped into negative territory and ended on a mixed note amid volatility as budget excitement settled. During the day, the BSE Sensex jumped over 1100 points, touching an intraday high of 60,773.44 and NSE Nifty 50 surpassed the 17,970 mark but then immediately after the FM’s speech finished, indices started falling. Markets have been trading lower for the past few days as the Hindenburg-Adani saga shook investors’ sentiment but today both the equity benchmark indices surged following the budget announcement by Finance Minister Nirmala Sitharaman but towards the end of the trading session they crashed 1%.
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Share Market Live on Union Budget 2023: Impact of Budget on Share Market Live News, Budget 2023 Share Market Highlights Wednesday, February 1
15:48 (IST) 1 Feb 2023 Top gainers/losers
The top gainers of the BSE Sensex were ITC (up 2.61%), Tata Steel (up 2.05%), ICICI Bank (up 1.80%), TCS (up 1.50%) and HDFC Bank (up 1.47%) while Bajaj Finserv (down 5.65%), State Bank of India (down 4.80%), IndusInd Bank (down 3.88%), Mahindra & Mahindra (down 1.91%) and Sun Pharma (down 1.75%) were the losers.
15:47 (IST) 1 Feb 2023 Sensex, Nifty end mixed
The BSE Sensex rose 158.18 pts or 0.27% to close at 59,708.08 and the Nifty 50 fell 45.85 pts or 0.26% to 17,616.30.
14:32 (IST) 1 Feb 2023 Markets take budget optimistically; bond might see small sharp rise in yields
“The market was expecting a further commitment to public capital expenditure across infrastructure, clean energy, and agriculture from the Govt, and it has not disappointed. The total CAPEX outlay in the Union Budget has been enhanced by 33% from 7.5 Lakh Cr to 10.0 Lakh Cr which takes it to an all-time high of 3% of GDP. This will not only give a boost to the infrastructure sector but also be positive for employment and growth. Markets have taken this budget optimistically, with energy stocks and infrastructure stocks soaring gratefully accepting these moves.
The bond markets might see a small sharp rise in yields, going in line with global markets and India’s ongoing Fiscal situation, which is optimistic but not unachievable. For FII’s to participate yields will have to move up.” – Prakhar Pandey, Founder and CEO, Moolaah
14:11 (IST) 1 Feb 2023 Markets give big thumbs up to budget
“Markets’ reaction at the end of the budget speech was a big thumbs up with Equity markets up 1% and rates lower in the fixed-income market. On the frontline, the impossible balance of boosting capital expenditure by 33% but still managing the fiscal prudence FY24 Budget Gap 5.9% of GDP, Retains 6.4% FY23 and Gross borrowing at 15.43 vs exp of 15.77. Concerns of LTCG tweak was also not touched also gave the sugar high for the equity markets. Going ahead, in a world which is slowing materially, India’s Capex frontloading is likely to keep domestic centric Indian economy. The clear take away from this budget is the focus on India (domestic-centric focus). Consumption (on account of higher disposable income) and Capex sectors (capex up by 33%) both will see strong tail wind along with a focus on railways, ports & airports and tourism. Fiscal prudence continues to prove a strong tailwind for the banking sector which is only moving towards its long-term valuation bands,” said Azeem Ahmad, Principal Officer & Head PMS , LIC Mutual Fund.
14:02 (IST) 1 Feb 2023 Broader market indices trade in green
All the broader market indices were trading in green with Nifty Next 50 rising 1.75% to 17,971.40, Nifty 100 up 1.51%, Nifty Midcap 50 up 1.74%, Nifty Smallcap 250 up 1.33%, Nifty Total Market up 1.46%
14:02 (IST) 1 Feb 2023 India VIX falls 11%
The volatility index India VIX fell 11% to 16.88.
14:01 (IST) 1 Feb 2023 Nifty top gainers/losers
The top gainers of the index were ICICI Bank, Larsen & Toubro, HDFC Bank, HDFC and JSW Steel while HDFC Life, SBI Life, Adani Enterprises, Adani Ports and Sun Pharma were the top losers.
14:01 (IST) 1 Feb 2023 BSE top gainers/losers
ICICI Bank, Larsen & Toubro, HDFC Bank, HDFC and Tata Steel were the top performers while Sun Pharma, Titan and Mahindra & Mahindra were the laggards.
14:00 (IST) 1 Feb 2023 Gold, Silver futures rise
Gold futures on the Multi Commodity exchange (MCX) for April delivery rose 467 pts or 0.82% to 57,657.00 and Silver futures for March delivery rose 1033 pts or 1.50% to 69,862.00.
14:00 (IST) 1 Feb 2023 Asian markets in green
Asian markets closed higher on Wednesday. China’s Shanghai Composite index rose 29.90 pts or 0.90% settling at 3,284.92, Japan’s Nikkei 225 closed 19.77 pts or 0.07% higher at 27,346.88 and Hong Kong’s Hang Seng was trading 150.52 pts or 0.69% higher at 21,992.85.
14:00 (IST) 1 Feb 2023 Sectoral indices trade in green
In the sectoral indices, Bank Nifty skyrocketed over 1200 pts or 3% to 41,891, Nifty Auto rose 0.78%, Nifty IT up 0.83%, Nifty Metal up 0.78%, Nifty Pharma up 0.09%, Nifty Realty up 1.87%.
12:42 (IST) 1 Feb 2023 ICICI Bank, HDFC Twins among top gainers
ICICI Bank shares rose over 4%, Tata Steel shares gained 3.51%, Larsen & Toubro surged 3%, HDFC advanced 3.12% and HDFC Bank increased 2.84%.
12:34 (IST) 1 Feb 2023 Sensex rises 800 pts, Nifty trades above 17850
Domestic indices jumped following FM Nirmala Sitharaman’s speech. The BSE Sensex surged 872.76 points or 1.47% to 60,422.66 and NSE Nifty 50 rose 191.15 pts or 1.08% to 17,853.30.
12:31 (IST) 1 Feb 2023 FM raises tax rebate limit to Rs 7 lakh under new tax regime
In a major relief for the common public, FM Sitharaman raises tax rebate limit to Rs 7 lakh under new tax regime. ” I introduced in 2020, the new personal income tax regime with 6 income slabs, starting from Rs 2.5 Lakhs. I propose to change the tax structure in this regime by reducing the number of slabs to 5 and increasing the tax exemption limit to 3 Lakhs,” said FM while presenting Budget 2023.
12:17 (IST) 1 Feb 2023 ITC shares fall 6%
ITC shares fell 6% to Rs 331 after FM hiked NATL Calamity Contingency duty on Cigarettes by 16%. ” The National Calamity Contingency Duty on specified cigarettes was last revised three years ago. It will be revised upwards by 16%, ” FM said.
12:05 (IST) 1 Feb 2023 Budget’s focus on green growth shows India’s commitment to reduce carbon emission
“With the budget focusing on green fuel, green energy, green mobility, green farming, mangrove plantation in the coastline, biogas/CBG plants, battery storage, etc., apart from large funding in transition to a low carbon economy, indicates the govt.’s emphasis in green growth and in achieving India’s commitment to reduce carbon emission intensity by 2030 and in reaching Net Zero target by 2070.” – Rajib Kumar Debnath, Partner – Sustainability, Nangia Andersen LLP
12:00 (IST) 1 Feb 2023 Markets cheer higher capex outlay
“The market was expecting a further commitment to public capital expenditure from the Govt and it has not disappointed. The total CAPEX outlay in the Union Budget has been enhanced by 33% from 7.5 Lakh Cr to 10.0 Lakh Cr which takes it to an all-time high of 3% of GDP. This will not only give a boost to the infrastructure sector but also be positive for employment and growth.” – Suman Chowdhury, Executive Director & Chief Analytical Officer, Acuité Ratings & Research
11:57 (IST) 1 Feb 2023 Nifty Auto gains as FM announces Rs 19500 crore for green hydrogen mission
Nifty Auto rose 0.33% to 13,368.25 as FM announced an outlay of INR 35000 crore for the Net Zero target and INR 19500 crore for the green hydrogen mission and support of 4K MWH for the battery. Balkrishna Industries, Sona BLW shares were leading the gains.
11:50 (IST) 1 Feb 2023 Union Budget hike outlays on Infrastructure and Agriculture, keeping its focus on inclusive growth
“In keeping with its focus on inclusive growth, the Union Budget has hiked outlays on Infrastructure and Agriculture which in our view would have a force multiplier impact on the economy.” – S Ranganathan, Head of Research at LKP Securities.
11:46 (IST) 1 Feb 2023 IRCTC, Rail Vikas Nigam shares rise after FM says PPP will boost tourism
IRCTC shares rise 1.81%, Rail Vikas Nigam gains 3.48%, KEC International rises 2% as FM says PPP will boost the tourism sector.
11:36 (IST) 1 Feb 2023 Adani Enterprises, RIL among most active NSE equities
Adani Enterprises, ICICI Bank, Adani Ports, Reliance Industries Ltd (RIL), Ambuja Cement and Larsen & Toubro were the most active NSE equities.
11:31 (IST) 1 Feb 2023 Sensex top gainers/losers
ICICI Bank, Tata Steel, HDFC Bank, Kotak Bank and HDFC were the top gainers on Sensex, while Sun Pharma, Mahindra & Mahindra, Larsen & Toubro and ITC were the top losers.
11:26 (IST) 1 Feb 2023 Nifty Pharma rises over half a percen on positive indications from FM
Nifty Pharma rose over half a percent to 12,423.90 after FM Nirmala Sitharaman indicated positive changes in the Pharma sector. Lauras Lab, Auro Pharma, Biocon rose over 3% following the announcement.
11:16 (IST) 1 Feb 2023 Nifty Energy rises marginally after FM’s green growth announcement
Nifty Energy rose marginally by 0.01% to 23,716.20 as Finance Minister Nirmala Sitharaman said that Govt has prepared multiple policies for green growth. Gail, Power Grid, and NTPC shares rose over 1% while Adani Green and Adani Transmissions fell over 3%.
11:13 (IST) 1 Feb 2023 Adani Enterprises shares fall over 4%
Adani Enterprises shares fell over 4% to Rs 2848.45, a day after its FPO received full subscription.
11:00 (IST) 1 Feb 2023 Sun Pharma shares fall over 1% on profit booking
Sun Pharma shares fell 1.36% to Rs 1020.95 on profit booking after the company reported a better-than-expected 5.2% rise in third-quarter profit on Tuesday. According to the company, this growth was driven by higher sales of its speciality drugs.
10:54 (IST) 1 Feb 2023 Tata Steel shares rise over 2%
Tata Steel shares rose 2.34% to Rs 122.45 on Wednesday. The shares touched 52-week high of Rs 138.63 on April 6, 2022, and 52-week low of Rs 82.71 on June 23, 2022,
10:51 (IST) 1 Feb 2023 ICICI Bank shares rise over 3%
ICICI Bank shares rose over 3% to Rs 857. On Tuesday, ICICI Bank announced that it has allotted 247,929 equity shares of the face value of ` 2 each on January 31, 2023, under the Employee Stock Option Scheme (ESOS).
09:57 (IST) 1 Feb 2023 FII DII data
Foreign institutional investors (FII) sold shares worth a net Rs 5439.64 crore while domestic institutional investors (DII) bought shares worth a net Rs 4506.31 crore on Tuesday, January 31, 2023, according to the data available on NSE.
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09:56 (IST) 1 Feb 2023 Ambuja Cements under FO ban today
Ambuja Cements is the stock/security placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Wednesday, February 1.
Stocks under FO ban today
09:28 (IST) 1 Feb 2023 Broader indices outperform Nifty 50
Broader indices outperform the Nifty 50 as Nifty Midcap 100 and Nifty Smallcap 100 soar 1.2% in the morning session ahead of the Union Budget 2023.
09:27 (IST) 1 Feb 2023 Nifty realy gains over 1%
Nifty Realty advances ~1.3%, top sectoral gainer led by Macrotech Developers, Phoenix Mills.
09:26 (IST) 1 Feb 2023 Bank Nifty rises over 1%, trades above 41,150
Bank Nifty surged 500 pts or 1.22% to 41,152.95 with all of its constituents trading in green except Bank of Baroda.
09:23 (IST) 1 Feb 2023 Top gainers/losers
The top gainers on the Sensex were Power Grid, ICICI Bank, State Bank of India, Kotak Bank and HDFC while the top losers were ITC, Sun Pharma and IndusInd Bank.
09:21 (IST) 1 Feb 2023 Nifty, Sensex open in green
Nifty rose 126.05 or 0.71% to 17,788.20 and BSE Sensex surged 375.02 pts or 0.63% to 59,924.92.
09:13 (IST) 1 Feb 2023 FM anticipated to reduce wasteful spending to free up cash to build more roads and ports
“On Wednesday, Nifty futures on the Singapore Exchange traded 118 points, or 0.66 percent, higher, setting the stage for a strong start for Dalal Street. The last full-year budget of Prime Minister Narendra Modi’s administration will be presented at 11 a.m. in New Delhi before they run for a third term in the summer of 2024. In order to support Prime Minister Modi’s goal of making India a worldwide powerhouse without jeopardising the deficit, Nirmala Sitharaman is anticipated to reduce wasteful spending to free up cash to build more roads and ports, generate jobs, and improve supply chains.” – Ameya Ranadive, Equity Research Analyst, Choice Broking.
08:37 (IST) 1 Feb 2023 US indices conclude in green
US Markets concluded the overnight session in green. The Dow Jones Industrial Average rose 368.95 points or 1.09% to 34,086.04, S&P 500 climbed 58.83 pts or 1.46% to 4,076.60 and Nasdaq advanced 190.74 pts or 1.67% to 11,584.55.
08:24 (IST) 1 Feb 2023 Nifty immediate support seen at 17,550
“It was again a roller-coaster day for the Indian markets on Tuesday but the range was comparatively narrower from Monday. Nifty has reversed from the support zone and managed to close above its 200 EMA placed at 17,550 levels. A relief rally can be expected up to 17,900 levels from where selling pressure may be witnessed again until 18050 – 18100 takes out on a closing basis. On the lower side, immediate support is seen at 17,550 and below that at 17,400 levels.” – Rohan Patil, Technical Analyst, SAMCO Securities.
08:22 (IST) 1 Feb 2023 Nifty to remain in broader range of 17,400–17,800
“On Tuesday, following a positive start, the Nifty remained volatile within a small band. The sentiment, however, remained a bit weak, favouring the sell-on-rally approach. The current trend may remain intact as long as it remains below 17,800. On the lower end, support is visible at 17,400. Over the near term, the Nifty will remain in a broader range of 17,400–17,800. Any breakout on either side is likely to create a directional movement in the market.” – Rupak De, Senior Technical Analyst at LKP Securities.
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