Benchmark market indices rallied as trading opened on the special Budget Day at the NSE and the BSE. Taking forward the momentum from Friday, the positive momentum continued early on Saturday ahead of Finance Minister Nirmala Sitharaman tabling the Union Budget 2025 in the Parliament. Despite this, volatility continued as it was prone to dips and highs throughout the session.
The BSE Sensex gained more than 331 points to climb as high as 77,832.05 in the early session, while the NSE Nifty rose by at least 87 points hitting a morning-high of 23595.80. ITC Hotels. IndusInd Bank, Mahindra and Mahindra, UltraTech, and NTPC gained significantly, leading the rally.
Geojit Financial Services's V.K. Vijayakumar remarked, "The market will be looking for growth-stimulating measures, not market-related taxation reliefs like changes in the capital gains taxation." However, he added that such a response would not last more than a few days, and ultimately, it would rest on growth and earnings recovery trends to determine the market movement in the medium and long term.
Earlier on Saturday, the Union Cabinet headed by PM Narendra Modi approved the Union Budget. Finance Minister Nirmala Sitharaman is set to table her eighth budget in the Lok Sabha from 11am in the Parliament.
