As the Narendra Modi government has decided to stick to its tradition of presenting the Union Budget on February 1 despite it being a Saturday this year, the stock markets too have decided to remain open. Both the BSE and NSE, which follow a 5-day week calendar, have issued notices saying that they will hold a special trading session on Budget day.
Trading timings would be as usual starting from 9.15 am to 3.30 pm and the pre-open trade would be held from 9 am to 9.15 am. NSE said on account of the presentation of the Union Budget on February 1, multiple settlements have been scheduled on February 4, 2020.
Stock market traders will be keeping a close watch on Budget announcements as the Modi government is widely expected to make some bold moves to revive the economy and may even announce income tax relief on long-term capital gains (LTCG). The stock markets decided to remain open Saturday after requests from the trading community so that investors could take quick decisions based on policy initiatives announced by the government.
Stock markets will also be watching FY21 budgetary assumptions, particularly revenues and nominal GDP growth and fiscal deficit related numbers. Nirmala Sitharaman will present her second Budget on February 1 at 11 am while the Economic Survey will be presented today.
Read Equitypandit’s Nifty Outlook for the Week