Stock Exchange to remain open on Budget announcement day
The Bombay Stock Exchange (BSE) will open despite the budget day (1 February) being a Saturday. Trading time will be from 9.15 am to 3.30 pm like other trading days. BSE has issued its notification. The news agency quoted sources as saying that the decision was taken on the appeal of people associated with the stock market. Because, the budget announcements bring about a lot of fluctuations in the market. In 2015 too, trading was done on BSE despite budget being Saturday. The stock market is generally closed on Saturday-Sunday.
Government can focus on foreign investment in the budget
In this year’s budget, big announcements related to income tax and stock market are expected. The government may make announcements promoting private and foreign investment. The country’s quarterly GDP growth is at a 6-year low. The government has released an annual growth estimate of 5%. It will be the lowest in 11 years.
On July 5 last year, the Sensex lost 0.98% and the Nifty lost 1.14 on the full budget day. The stock market was in decline on 4 of the last 6 full budgets of the Modi government. However, the Sensex had gained 0.6% on the interim budget on February 1 last year. When the announcement related to a particular sector on the day of the budget, the shares of companies of that sector also fluctuate.
