Stock Markets on 1st February started well but soon dropped down. Union Budget has been floored by Finance Minister of India, Nirmala Sitharaman at Parliament on 1st February. Stock Markets showed great enthusiasm till the mid-session. As traders looked to make profits and also some expressed disappointment over increase on taxes for cigarettes, gold, silver BSE lost more than 1200 points gain. International Stock Markets did not play any major role, today. By the end of the trading session, BSE gained 158.18 points to close at 59,708.08 and Nifty lost 45.85 points to close at 17,616.30 mark.
BSE Sensex of Stock Markets started trading at 60,001.17 mark and then continued to trade between 58,816.84 to 60,773.44 range. Finally, BSE ended the trading session at 59,708.08 by gaining 158.18 points. Nifty Sensex of Stock Markets started trading at 17,811.60 mark and it hit highest for the day at 17,972.20. Nifty hit the lowest at 17,353.40. It rose to new heights in first hour and then traded throughout the day by touching highs and lows. It ended at 17,616.30 by losing 45.85 points.
Indian Rupee traded at Rs.81.88 against US Dollar on Wednesday. Budget has been simple and straightforward. Government looked like pushing for new tax regime to be put in motion which has mixed response. Corporate sector seems to be slightly disappointed with increase in several taxes. Still, we can conclude that Stock Markets reacted in a very positive way, barring for late session profit making emergency.
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