Stock Markets Open with Modest Gains Ahead of Interim Budget

Stock markets saw an optimistic start on Thursday ahead of the interim Union budget preceding national elections later this year. As of 9:15 am IST, Sensex traded at 71,765 points, with NSE Nifty 50 opening 20 points higher at 21,746. Prime Minister Narendra Modi is expected to prioritize infrastructure over new welfare programs, focusing on narrowing the budget gap.

While significant policy changes are not anticipated, scrutiny will be on government capital expenditure and fiscal consolidation, according to ICRA. Finance Minister Nirmala Sitharaman is scheduled to unveil the budget for the financial year 2024-25 at 11 am.

Also Read: Government Budget: Anticipated Announcements for Women and Farmers

However, fintech firm Paytm witnessed a 20% decline in its shares after the Reserve Bank of India imposed restrictions on Paytm Payments Bank, citing supervisory concerns, preventing fresh deposits and credit transactions across its services.