Market opening: Sensex soars past whopping 40,000 mark, Nifty opens in green too ahead of Budget 2019 presentation
Market opening: Both Sensex and Nifty opened in green ahead of the Union Budget presentation by Finance Minister Nirmala Sitharaman.
Market opening: Both Sensex and Nifty opened in green ahead of the Union Budget presentation by Finance Minister Nirmala Sitharaman. The Modi government is set to present Budget 2019 at 11 am in the Parliament. Ahead of the presentation, Sensex climbed over 100 points and breached the 40,000 mark. At the time of writing, Sensex was trading 117 points higher at 40,025.90 while Nifty was trading at 11,978.70, 31.95 points higher previous day's close.
On Thursday, the markets finished with slight gains reacting to the Economic Survey that was presented on the same day. The 30-scrip Sensex gained 68.81 points to finish at 39,908.06, while the Nifty settled at 11,946.75, after advancing by 30 points. "Expectation levels ahead of the Budget are low due to lack of fiscal space," said Deepak Jasani, Head Retail Research, HDFC Securities.
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The Economic Survey presented on Thursday said that, Investment, especially private investment, is the "key driver" that drives demand, creates capacity, increases labour productivity, introduces new technology, allows creative destruction, and generates jobs.
The top gainers among the 30-scrip Sensex were Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Mahindra and Hero Moto Corp while the losers were Yes Bank, HCL Tech, Vedanta, Sun Pharma and Tata Steel.
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