Sensex down by 60 points, Nifty 25 as Finance Minister Nirmala Sitharaman delivers Budget speech
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The decision for stock exchanges to open on Saturday was made after traders requested keep trading hours so that quick buys based on Budget initiatives can be made.
Sensex and Nifty are trading flat as Finance Minister Nirmala Sitharaman was presenting her second budget.
The decision for stock exchanges to open on Saturday was made after traders requested keep trading hours so that quick buys based on Budget initiatives can be made.
Sitharaman is likely to present a `feel-good` Budget in the backdrop of sliding economic growth despite corporate tax cuts and other stimulus measures. However, the Economic Survey has projected the GDP growth rate of 6 to 6.5 per cent during fiscal 2020-21.
At 01:00 pm, the BSE S&P Sensex was down 60 points while the Nifty was trading 25 points down.
Sectoral indices at the National Stock Exchange were mixed.
Among stocks, Power Grid Corporation was down by 3.4 per cent at Rs 180.50 per share. Tech Mahindra, power utility major NTPC, Tata Steel and Coal India were among prominent losers. However, FMCG major Hindustan Lever, GAIL, Bajaj Finserv, Bharat Petroleum Corporation and IndianOil Corporation showed marginal gains.
Meanwhile, Asian share markets were closed for the weekend.