Nifty Closed Above 23500 Yesterday, Signaling Strength. Market Awaits Budget Announcements Today, with Finance Minister Sitharaman's Speech Scheduled for 11 AM.
Budget 2025 Share Market: The share market opened flat in a special pre-budget trading session on Saturday. Nifty opened 20 points higher at 24529, while the Sensex opened 136 points up at 77637.
Signs of Strength in Nifty
Nifty closed above the 23500 level in the previous session, indicating strength. Market reaction will be observed following today's budget announcements. Finance Minister Nirmala Sitharaman will begin her budget speech at 11 AM; until then, the market is likely to trade within a range.
23500 Level Crucial for Nifty
The 23500 level is considered a base level for Nifty, and momentum may be generated around this level. The market may remain range-bound for approximately two hours before the budget speech, but volatility is expected to increase once the speech begins. Immediate support for Nifty is at 23400, while resistance is at 23600. Significant movements could occur beyond these levels after the budget announcements.
Nifty 50 Top Gainers and Losers
In early trading, Sun Pharma was among the top gainers in Nifty 50, rising by 2%. This increase follows the company's recent quarterly results. BEL, UltraTech Cement, IndusInd Bank, and NTPC were also among the top gainers.
Meanwhile, ONGC, Hero MotoCorp, Dr. Reddy's, and Trent were among the top losers in Nifty 50.
