Final Trade: Indices end mixed on Budget day; Sensex adds 5 points, Nifty sheds 26 points to close at 23,482

Indian equities on the crucial Budget day in a volatile session ended on a mixed note even as the government announced a growth-oriented budget focusing on its journey towards Viksit Bharat. At the close, Nifty ended lower by 0.11 per cent or 26.25 points at 23,482.15 , while the 30-share Sensex ended higher by 0.01 per cent or 5.39 points at 77,505.96. 

Also, the broader markets saw mixed ending, with the Nifty Smallcap 100 index ending higher by 0.41 per cent, while the Nifty Midcap 100 index ended 0.42 per cent lower.

Within the Nifty pack, Trent, Maruti Suzuki, Tata Consumer Products, Eicher Motors and Bajaj Auto were the top gainers, while laggards included stocks such as Power Grid Corporation, Bharat Electronics, Larsen and Toubro, Grasim and Cipla.

Sectorally, FMCG, consumer durables and realty got a boost after the FM announced that there will be no income tax payable on annual income of up to Rs 12 lakh in new tax regime.

Analysts by and large perceive Union Budget 2025 as the forward-looking budget that is poised to enhance per capita income over the long term, while its immediate impact will be a rise in consumer spending driven by increased government expenditure and tax benefits.

The primary beneficiaries are expected to be industries such as FMCG, retail, textiles, consumer durables, agriculture and electronics manufacturing, noted Vinod Nair, Head of Research, Geojit Financial Services.

Vishal Kampani – Vice Chairman and Managing Director, JM Financial said, "

The budget has touched upon all key elements to accelerate economic growth. It has successfully managed to strike a balance among the trinity – offering fiscal stimulus to consumption, maintaining the fiscal glide path and undertaking reforms to boost growth."

Technicals

Rupak De, Senior Technical Analyst at LKP Securities said, "The Nifty has witnessed a roller-coaster ride during the Budget session. On the daily chart, a small-bodied candle has formed, indicating indecision. Nifty has support at 23,280, and as long as it remains above this level, the trend might stay positive."

On the higher end, the index could move towards 23,700–24,000 in the short term. However, a fall below 23,280 might trigger panic in the market, he added.