FIRST TRADE: Sensex adds 145 points, Nifty at 23,542 ahead of Budget announcement

Indian equities connected the important Budget day in a peculiar league opened connected a affirmative enactment continuing with the upbeat momentum for the past 4 sessions amid optimistic expectations from the budget. At the start, Nifty was up 0.14 per cent oregon 33.5 points astatine 23,541.9, portion the 30-share Sensex gained 0.19 per cent oregon 145.47 points astatine 77,646.04.

Pertinently since the past fund announced successful July past year, the Sensex sank a immense 2,900 points oregon 3.6 per cent amid a slew of planetary and section headwinds including continuing FII exodus.

As the Union Budget approaches, the captious anticipation is to revive marketplace sentiment which is being bogged down amid net and economical maturation concerns  Recent budgets person seen accrued taxation connected the superior market—higher STT, superior gains taxes, taxation of dividend income successful shareholders’ hands, and the removal of taxation benefits connected buybacks, pointed out 

Sunil Damania, Chief Investment Officer, Mojopms.

This year, it’s imperative for the Finance Minister to debar introducing caller taxes connected investors. Instead, providing meaningful taxation rebates to heighten user spending powerfulness could assistance revive the depletion cycle. Additionally, portion higher capex allocations are welcome, the Budget should see wide quarterly timelines for existent spending. Without effectual execution, accrued allocations suffer their impact, helium added.

Ahead of the budget Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services noted that the marketplace volition beryllium looking for growth-stimulating measures; not market-related taxation reliefs similar changes successful the superior gains taxation.

Further, helium added that the marketplace effect to the Budget volition not past much than a fewer days. Trends successful maturation and net betterment volition dictate the mean to semipermanent marketplace direction.
 

Nifty outlook

Rupak De, Senior Technical Analyst astatine LKP Securities said, "The Nifty has fixed a falling wedge breakout, indicating a short-term bullish reversal. The scale has besides moved supra the 21-period EMA, reinforcing the affirmative momentum. Additionally, the existent RSI speechmaking supports a beardown upward determination successful the market. However, overmuch volition beryllium connected however marketplace participants respond during and aft the budget. Support is placed astatine 23,300–23,200, portion absorption is seen astatine 23,600 and 23,800."

Stocks successful news

ONGC: ONGC stock terms volition beryllium in focus aft the lipid company's anemic acceptable of results for the 3rd 4th of FY25. For the reporting quarter, the upstream lipid and state institution posted a 31.2 per cent YoY diminution successful nett to Rs 8,239.9 crore from the earlier Rs 11,984 crore recorded during the aforesaid play past year.

Hero MotoCorp: The car maker's CEO Niranjan Gupta has resigned from the station of CEO, volition stay successful bureau till April 30. 

Insurance stocks: 

The manufacture is 
Life Insurance Companies successful absorption Consideration of combo merchandise of beingness security with communal funds Investors volition person the enactment to instrumentality a word program with MF astatine a little amount.