It is an extremely well-balanced Budget focussed on growth driven by capital expenditure while giving an adequate push to rural welfare and agriculture. The Budget has delivered on all the expectations very well. In the short term, we expect the markets to move higher on the back of pro-growth measures announced and less fear of the government crowding out private investments due to fiscal prudence shown by the government

The defence sector saw a decline in stock prices on Wednesday as the government allocated less money to the sector in its budget than it did in the previous year. The outlay for the defence sector in FY24 is Rs 4.3 lakh crore, an increase of just 5.5%. In FY23, the defence ministry was allocated Rs 5.25 lakh crore, which was 13.31% of the total Budget

The fees are equivalent to around 0.5% of the 200 billion rupees raised in Adani Enterprises Ltd.’s offering, said the people, who asked not to be identified as the information is private.

The decline in personal income tax slabs provides more disposable income in the hands of the consumers benefiting the consumer goods companies. There is no tax applicable for income up to Rs 7 lakh.

The Union Budget for FY24 broadly brought smiles on Dalal Street’s bulls as it indicated the government’s continued focus to foster domestic growth through higher capital investments and reforms while pumping in incentives to boost rural growth.No changes to the long-term capital gains tax or securities transaction tax came as another big relief for domestic equities. While the Budget managed to tick most of the boxes on the wishlist, there were some misses and some disappointments.Here’s highlighting 10 stocks that saw major movement in trade on Wednesday post Budget and the reason behind it.

Had it not been for Adani Enterprises and Adani Ports, both of which are part of Nifty and not Sensex, weighing down the 50-share barometer, the index too would have ended on a positive note. Adani Enterprises, which ended 26.7% lower on NSE, contributed 49 points to the index's downfall. On the other hand, Adani Ports which ended 17.7% lower contributed another 18.6 points.

The Budget gives more money to consumers which means more consumption. Capex is clearly good and higher GDP growth is very positive for banks as well and of course, it does not impact the IT sector. I mean that is the very nature of it. I think broadly this budget is positive for all," Jain said

From the Sensex pack, ICICI Bank and Tata steel were the top gainers, rising over 2%. ITC, HDFC Bank, L&T, TCS, HDFC and Kotak Bank closed with gains

Adani stocks came under pressure after global investment banker Credit Suisse assigned zero lending value for bonds sold by Adani Ports and Special Economic Zone, Adani Green Energy and Adani Electricity Mumbai. It has stopped accepting bonds of Adani companies as collateral for margin loans to its private banking clients following allegations made in Hindenburg report, Bloomberg said.

Sensex rises 158 points in topsy-turvy Budget day trade; Nifty drops below 17,650 on Adani jolt; Indian Hotels, EIH, Lemon Tree Hotels are some of the top gainers in closing trade.

From the Sensex pack, ICICI Bank and Tata steel were the top gainers, rising over 2%. ITC, HDFC Bank, L&T, TCS, HDFC and Kotak Bank closed with gains

Most of the conglomerate's shares dropped on Wednesday, extending losses to $84 billion after Hindenburg Research's report last week alleged improper use of offshore tax havens and flagged concerns about high debt.

Despite a strong Union Budget, why are Indian markets falling? ET NOW's Managing Editor Nikunj Dalmia decodes.

"The policy on the replacement of old polluting vehicles should accelerate the transition towards EVs, which is in line with the Budget’s aim to spur eco-conscious lifestyles. Overall, we are happy with the budget as it is inclusive, and progressive and will encourage investments in the EV sector," Korimerla added.

Adani Enterprises and Adani Port are constituents of the Nifty 50, so they are automatically in portfolios of some exchange-traded funds (ETFs) and index funds. But active funds have very little exposure to Adani stocks and are largely unscathed by their fall.

In the US, that makes sense as it's the beginning of their financial year and all sellers who squared off positions last December to book profits or set-off losses (for tax savings), turn to buyers. Conversely, India with a financial year ending in March, doesn't exhibit a similar trend in March to April period.

All 10 stocks belonging to billionaire Gautam Adani's vast empire were reeling under the impact of the Hindenburg report today. While Adani Ports crashes 15%, Adani Total Gas, Adani Green Energy and and Ambuja Cements were trading 10% lower today.

Sitharaman gave a major boost to the consumption economy by increasing the income tax rebate for individuals from Rs 5 lakh to Rs 7 lakh in the Budget. Analysts said this will free up more funds for spending and boost consumption which will have a multiplier effect on the economy.

All 10 stocks belonging to billionaire Gautam Adani's vast empire were reeling under the impact of the Hindenburg report today. While Adani Ports crashes 15%, Adani Total Gas, Adani Green Energy and and Ambuja Cements were trading 10% lower today.

Shares of HDFC Life Insurance nosedived 12% to Rs 510.30, while SBI Life Insurance plunged 9% to Rs 1,119. The country’s largest life insurer Life Insurance Corporation of India (LIC) declined 5% to Rs 618.40. Max Financial plummeted 10% to Rs 752.10. PB Fintech dropped 7% to Rs 397.25.

Dalal Street investors were left richer by Rs 2.24 lakh crore as the market capitalisation of all BSE-listed companies rose to Rs 272.47 lakh crore.

If any deduction claimed for expenditure made on purchase of sugar has been disallowed, an application can be made to the assessing officer, who will recompute the income of the relevant previous year after allowing such deduction up to the price fixed or approved by the government for such previous year.

The pan-European STOXX 600 was up 0.3% at 0814 GMT, coming off a 6.7% jump last month - its biggest gain in any January since 2015 - on hopes of better-than-expected corporate earnings and signs of economic resilience.Danish drug maker Novo Nordisk rose 2.2%, and led the gains among healthcare stocks, on strong 2023 sales growth expectations.

Apart from promoting value addition in TV manufacturing, Sitharaman took the same approach for other electronics like mobile phones by providing relief in customs duty on import of certain parts like camera lens while continuing the concessional duty on lithium-ion cells for batteries for another year.

Sitharaman gave a major boost to the consumption economy by increasing the income tax rebate for individuals from Rs 5 lakh to Rs 7 lakh in the Budget. Analysts said this will free up more funds for spending and boost consumption which will have a multiplier effect on the economy.

Globally, Sebi-run NISM is one of the largest financial market certifying institutions, issuing over 20 programme certificates covering various critical market functions such as sales, advice, operations and compliance across financial market products such as equities, derivatives of equity, currency, interest rates and commodities, mutual funds and pensions.

Dalal Street investors were left richer by Rs 2.24 lakh crore as the market capitalisation of all BSE-listed companies rose to Rs 272.47 lakh crore.

Wednesday's stock losses saw Gautam Adani slip to 10th on Forbes rich list with an estimated $84.1 billion, just below rival Mukesh Ambani, the chairman of Reliance Industries Ltd who has an estimated $84.4 billion. Before the Hindenburg report, Adani had ranked 3rd.

The Nifty Bank index surged 3% to 41865.75. Shares of Axis Bank, Bandhan Bank, HDFC Bank, IndusInd Bank, Kotak Mahindra Bank, and ICICI Bank rose between 1-4% each.

Dalal Street investors were left richer by Rs 2.24 lakh crore as the market capitalisation of all BSE-listed companies rose to Rs 272.47 lakh crore.

The government left this duty untouched for 2 years. In the Budget for FY21, the NCCD was raised by 2-4 times across cigarette stick sizes, resulting in tax hikes of 9-15%.

Increase in tax exemption limit with consequent more disposable income for Indian taxpayers in Union Budget 2023-24 is a positive development for domestic automobile space and shall spur growth for the domestic passenger vehicle industry. Positive for Maruti Suzuki, M&M, and Tata Motors in our coverage universe. It is also positive for the premium motorcycle segment with Eicher Motors as key beneficiary with the popular Royal Enfield franchise," said brokerage firm ICICI Direct.

​The participation by some of India’s biggest corporate names, some with potentially rival business interests, comes as the Hindenburg Research allegations against Adani are seen by some domestically as threatening the country’s economy at large.

Dalal Street investors were left richer by Rs 2.24 lakh crore as the market capitalisation of all BSE-listed companies rose to Rs 272.47 lakh crore.

"Higher government focus on building infrastructure including roads, airports, ports, bridges and other hard structures will increase overall cement demand. Increased allocation of funds to government schemes like Pradhan Mantri Awas Yojna will enhance cement consumption further," Axis Securities said.

The emphasis to increase cotton crop productivity will be positive for cotton textile stocks. At the bourses, these stocks rallied up to 3% in morning deals on NSE.HP Cotton Textile Mills, one of the largest exporters of cotton specialty yarns and cotton sewing threads in India, rallied 3.19% to Rs 103.65.

Railways got a big chunk in the Budget 2023-24 as the government's capital outlay of Rs 2.40 lakh crore is 9 times the outlay announced in 2013-14. Similar to industry expectations, the Railway outlay has come at a whopping amount. Railway related stocks namely Titagarh, IRCTC, RVNL, IRCON gain,” said Nisha Harchekar, Head - Equity Research at Fintoo.

The government left this duty untouched for 2 years. In the Budget for FY21, the NCCD was raised by 2-4 times across cigarette stick sizes, resulting in tax hikes of 9-15%.

Jio has launched its 5G services using the stand-alone (SA) 5G architecture which has no dependency on 4G network using a mix of 5G spectrum across 700 MHz, 3500 MHz, 26 GHz bands. It uses carrier aggregation to combine these 5G frequencies into a single robust “data highway”.

Shares of EIH (Oberoi group hotels) surged over 7.7% to Rs 175, while shares of Indian Hotels rose 7.6% to Rs 323.4 on BSE. HLV and Mahindra Holidays also gained up to 5%.

She also talked about setting up an agriculture accelerated fund to promote agri startups in rural India to improve farm productivity and farmers profitability. ICICI Direct said measures to boost farm income in the Budget are positive for the farm mechanisation space with key beneficiaries being M&M and Escorts on the tractor front.

Other major gainers were IRB Infrastructure Developers, Hindustan Construction Co, ITD Cementation, KNR Constructions, Gayatri Projects, ARSS Infrastructure, and Dilip Buildcon, which rose 0.5-5%.

In the Sensex pack, ICICI Bank, HDFC, HDFC Bank, Power Grid and SBI were the top gainers, rising over 1% each. Asian Paints, Bajaj Finance, Bajaj Finserv, Axis Bank and Tech Mahindra also opened with gains. On the other hand, only L&T opened with cuts.

In the Sensex pack, ICICI Bank, HDFC, HDFC Bank, Power Grid and SBI were the top gainers, rising over 1% each. Asian Paints, Bajaj Finance, Bajaj Finserv, Axis Bank and Tech Mahindra also opened with gains. On the other hand, only L&T opened with cuts.

With strong support from non-institutional investors and qualified institutional buyers (QIB), Adani Enterprises’ FPO had sailed through with 112% subscription. Retail investors, however, stayed away from the FPO.

Assuming no significant change in the debt structure over the past year, SocGen estimated that Indian banks' loan exposure to Adani was close to $10 billion, just 0.6% of total banking sector loans at nearly $1.5 trillion.

The consensus recommendation from 15 analysts for Indian Hotels is a buy. Out of the 15 analysts covering the stock, 11 analysts have strong buy and buy ratings, while three analysts have hold ratings, and the remaining one has a strong sell rating.

You pick assets as per your goals' time horizon: If you have no short- or mid-term goals, you can think of having a higher allocation to equities. On the other hand, if you have near-term goals, you can opt for debt instruments. Asset allocation helps you create a portfolio by factoring in your financial goals' time horizon.

The relative strength index (RSI) is at 64.8. RSI below 30 is considered oversold and above 70 is considered overbought, Trendlyne data showed. MACD is above its center and signal line, this is a bullish indicator.

The company intends to increase its specialty drug portfolio in its core areas of dermatology and ophthalmology. This comes at a time when the company’s generic business continues to face pricing pressure. The company’s Halol plant, receiving an import alert from the USFDA earlier in December, remains a challenge for Sun.