Sensex, Nifty end mixed after FM presents Union Budget 2023; investors lose ₹3.5 lakh crore

Equity benchmarks the Sensex and the Nifty ended mixed on February 1 after Finance Minister Nirmala Sitharaman presented Union Budget for the financial year 2023-23 in Parliament.

Among the key highlights of the Budget were an increase in the income tax rebate limit from 5 lakh to 7 lakh in the new tax regime and an increase in capital investment outlay for the third year in a row to 10 lakh crore.

Analysts termed the Budget growth-oriented. The market, too, cheered the Budget as the Sensex jumped 1,224 points to 60,773.44 in intraday trade. However, the focus shifted back to the US FOMC outcome and the Adani-Hindenburg episode which dragged the market lower.

Sensex closed 158 points, or 0.27 percent, higher at 59,708.08 while the Nifty ended at 17,616.30, down 46 points, or 0.26 percent.

BSE Midcap index fell 0.96 percent while the Smallcap index suffered a loss of 1.10 percent.

The overall market capitalisation of BSE-listed firms dropped to 266.7 lakh crore from 270.2 lakh crore in the previous session, making investors poorer by 3.5 lakh crore in a single session. 


Some stocks that hit their 52-week highs in intraday trade on February 1.


Some of the most active stocks on February 1.

(More to come)

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of MintGenie.


New income tax regime

First Published: 01 Feb 2023, 03:33 PM IST

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