Stock Markets on 31st January started well but soon dropped down. Budget sessions have started and traders are waiting for the Finance Minister to come up with some goodies. Stock Markets have reacted well to the report that 7% is the growth rate for this financial year but then with prediction of 6.5% for next year, damaged the sentiment. Even International Stock Markets did not show much positive signs limiting the traders interest in buying stocks. By the end of the trading session, BSE gained 49.49 points to close at 59,549.90 and Nifty gained 13.20 points to close at 17,662.15 mark.
BSE Sensex of Stock Markets started trading at 59,770.83 mark and then continued to trade between 59,104.59 to 59,787.63 range. Finally, BSE ended the trading session at 59,549.90 by gaining 49.49 points. Nifty Sensex of Stock Markets started trading at 17,731.45 mark and it hit highest for the day at 17,735.70. Nifty hit the lowest at 17,537.55. It rose to new heights in first hour and then traded throughout the day by touching highs and lows. It ended at 17,662.15 by gaining 13.20 points.
Indian Rupee traded at Rs.81.90 against US Dollar on Tuesday. Looks like Budget and Economic Report have made traders be more skeptical than usual on Tuesday. We can expect some fireworks tomorrow, on Wednesday, based on the kind of wave Union Government will try to present in the Parliament. India has recovered from Covid-19 effect but Stock Markets need more assurances looking at global conditions and recession fears.
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