Budget 2019: Sensex opens at 36311.74; Nifty opens at 10851.35
Mumbai, Feb 1: Hours before the Interim Budget 2019, 30-share Sensex trades at 36,311.74, 55.05 points higher in the pre-open session on Friday.
Yes Bank, Power Grid, Mahindra & Mahindra, Bajaj Finance, SBI and NTPC are the major gainers on the Bombay Stock Exchange (BSE).
The SGX Nifty was last seen trading 43.5 points, or 0.4 per cent, higher at 10,898.55 on the Singapore Exchange. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent after a stellar 7.2 per cent gain in January.
Finance Minister Piyush Goyal will present Narendra Modi government's sixth and final Budget, which will be an interim one, keeping up with established tradition. This will be the last Budget of the BJP-led NDA government ahead of the General Election.
Union Minister of Parliamentary Affairs Narendra Singh Tomar hints that the Budget 2019 could be "for the poor" says 'Sabka Saath, Sabka Vikas' has been our government's mantra and it will reflect in the Budget.
Last year, the headline indices Sensex and Nifty crashed a day after Union Finance Minister Arun Jaitley tabled the Budget 2018 in Lok Sabha and brought Long-Term Capital Gains (LTCG) on equities and equity-linked mutual funds under the tax net of 10 per cent. However, later it was discovered that the negative movement in domestic stock markets was due to the contagion effect of global sell-off in equity markets.