Budget 2024: Stock market may see high volatility today; Nifty, Nifty Bank levels to watch

Budget 2024: Stock market may see high volatility today; Nifty, Nifty Bank levels to watch

Dalal Street is expected to remain volatile on Tuesday as the Finance Minister Nirmala Sitharaman will table the first union budget of Modi 3.0 after the 2024 general elections.

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Bouts of volatility can be seen in the stock markets with a strong action in specific sectors and stocks, said market participants.Bouts of volatility can be seen in the stock markets with a strong action in specific sectors and stocks, said market participants.
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Pawan Kumar Nahar
  • Jul 23, 2024,
  • Updated Jul 23, 2024 7:30 AM IST

Dalal Street is expected to remain volatile on Tuesday as the Finance Minister Nirmala Sitharaman will table the first union budget of Modi 3.0 after the 2024 general elections. Indian headline indices, which have been hovering around its record highs, have seen some profit booking ahead of the D-day. The first full budget of the new government has a lot for Indian investors who have strong expectations running in forms of sops, PLI schemes, F&O trading scrutiny, rationalization of tax structure and relaxations for corporates, GST benefits, revision in income tax slabs and more being the key demands from the Finance Minister Nirmal Sitharaman.  

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The fiscal deficit target for FY25 is likely to stay at 5.1 per cent of GDP as per the interim budget, emphasis will be on job creation through capital expenditure, targeted social spending, and the 'Viksit Bharat' initiative. The budget may also outline a roadmap for fiscal consolidation beyond FY26, said Arvinder Singh Nanda, Senior Vice President at Master Capital Services.  

"While no reduction in personal income tax rates is expected, there could be tax relief for middle-income taxpayers. Key sectors to watch include agriculture, start-ups, housing, railways, defence, electronics, and renewables. Changes in short-term capital gains tax rates are anticipated, but significant hikes in long-term capital gains tax rates are not expected," he said.  

The Economic Survey has spotlighted a wake-up call for traders, particularly those new to the F&O market. It starkly highlights the urgent need for robust advisory services and comprehensive education in the trading community, said Parminder Varma, Whole-Time Director and Chief Business Officer at Sharekhan.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Dalal Street is expected to remain volatile on Tuesday as the Finance Minister Nirmala Sitharaman will table the first union budget of Modi 3.0 after the 2024 general elections. Indian headline indices, which have been hovering around its record highs, have seen some profit booking ahead of the D-day. The first full budget of the new government has a lot for Indian investors who have strong expectations running in forms of sops, PLI schemes, F&O trading scrutiny, rationalization of tax structure and relaxations for corporates, GST benefits, revision in income tax slabs and more being the key demands from the Finance Minister Nirmal Sitharaman.  

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The fiscal deficit target for FY25 is likely to stay at 5.1 per cent of GDP as per the interim budget, emphasis will be on job creation through capital expenditure, targeted social spending, and the 'Viksit Bharat' initiative. The budget may also outline a roadmap for fiscal consolidation beyond FY26, said Arvinder Singh Nanda, Senior Vice President at Master Capital Services.  

"While no reduction in personal income tax rates is expected, there could be tax relief for middle-income taxpayers. Key sectors to watch include agriculture, start-ups, housing, railways, defence, electronics, and renewables. Changes in short-term capital gains tax rates are anticipated, but significant hikes in long-term capital gains tax rates are not expected," he said.  

The Economic Survey has spotlighted a wake-up call for traders, particularly those new to the F&O market. It starkly highlights the urgent need for robust advisory services and comprehensive education in the trading community, said Parminder Varma, Whole-Time Director and Chief Business Officer at Sharekhan.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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