 "Mumbai, Maharastra/India- January 13 2019: Stock Market building located at the Dalal Street in South Mumbai.")
As Union Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2025 today, the Indian stock market opened on a flat note.
At the start, Nifty was up by 0.14 percent or 33.5 points at 23,541.9, while the 30-share Sensex gained 0.19 percent or 145.47 points at 77,646.04.
Auto, pharma, and realty sector traded on a positive note, while other indices were in the red
Markets were bullish a day before
A day before the budget, the benchmark indexes were bullish. Sensex jumped 741 points, while Nifty rallied to close above 23,500 on Friday. L&T, Nestle India, and IndusInd Bank were the top gainers on the BSE Sensex yesterday.
Sitharaman is set to present the Union Budget 2025-26 today at 11 am in Parliament. This marks her record eighth consecutive budget presentation.
The budget is anticipated to focus on tax relief measures, particularly for the middle class. Additionally, there is speculation about potential tweaks in income tax rates to provide relief to the middle class.
Since the last budget in July, the Sensex has dropped by 2,900 points, or 3.6%, due to various global and local challenges. Among the crisis leading to fall is the ongoing exit of foreign institutional investors (FII).
Recent budgets were not favorable for market investors. The Finance Minister introduced higher taxes on the capital market, including increased STT, capital gains taxes, taxation of dividend income, and the removal of tax benefits on buybacks.