Latest Market News Today Live Updates: Budget 2024 Impact on Stock Markets – Updates on Andhra Pradesh-linked stocks, STT on F&O, Gold and Silver custom duty, Sensex and Nifty 50 movements, and more!

The stock market today saw a flurry of activity as investors reacted to the latest updates from the Union Budget 2024. FM Nirmala Sitharaman’s announcements had a significant impact on various sectors, with some stocks surging while others took a hit.

One of the key highlights of the day was the allocation of funds to Andhra Pradesh in the budget, which led to a surge in stocks linked to the state such as NCC and KCP. The promise of financial support for infrastructure projects like the Polavaram irrigation project boosted investor interest in these companies, resulting in gains of up to 6%.

However, not all news was positive, as the FM also announced a doubling of the Securities Transaction Tax (STT) on Equity and Index trades from 0.01% to 0.02%. This move had an immediate impact on the market, with the Sensex and Nifty 50 plunging over 1% each as investors reacted to the news.

On the commodity front, FM Sitharaman’s announcement of a cut in custom duty on gold and silver to 6% from 10% also made waves in the market. This move is expected to have implications for the precious metals sector and could lead to changes in trading patterns for these commodities.

Overall, the market today was a mix of gains and losses, with investors closely monitoring the budget announcements and their implications for different sectors. Stay tuned for more updates as the market continues to react to the latest developments.