Stock markets close lower on Budget day

Mumbai: Benchmark equity indices Sensex and Nifty closed lower on the Budget day on Thursday as investors resorted to profit-taking in capital goods, metal and realty shares amid no big announcements by Finance Minister Nirmala Sitharaman.

After shedding early gains, the markets turned volatile during the presentation of

the interim Budget, where

in the capital expenditure outlay was marginally hiked but there were no major announcements.

The 30-share BSE Sensex settled lower by 106.81 points or 0.15 per cent at 71,645.30. During the day, it gyrated between a high of 72,151.02 and a low of 71,574.89.

The Nifty dipped 28.25 points or 0.13 per cent to 21,697.45. It oscillated between the day’s high of 21,832.95 and a low of 21,658.75.

Market sentiment was also dampened after the US Federal Reserve indicated it likely won’t cut interest rates in March.

Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards.

Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers. In the broader market, the BSE midcap gauge declined 0.40 per cent and smallcap index dipped 0.22 per cent.

Among the indices, telecommunication fell by 1.55 per cent, capital goods dipped 1.12 per cent, realty (1.05 per cent), metal (0.99 per cent), commodities (0.91 per cent) and industrials (0.91 per cent).

Energy, FMCG, financial services, utilities and services were among the gainers.

The rupee appreciated by 8 paise to close at 82.96 against the US dollar on Thursday after the government hinted at faster fiscal consolidation and lower borrowings in its interim Budget for 2024-25.

Global oil benchmark Brent crude climbed 0.66 per cent to $81.08 a barrel.