• By Kamal Kumar
  • Tue, 30 Jan 2024 05:12 PM (IST)
  • Source:IANS

Budget 2024:  Geojit Financial Services Chief Investment Strategist V. K. Vijayakumar said in the near term, expectations regarding the budget will influence the market. The market does not expect any major changes in taxation relating to the capital market.

Therefore, any such proposal will have an impact on the market, he said. Deepak Jasani, Head of Retail Research, HDFC Securities said Nifty ended the first day of the week on January 29 with its biggest single-day gain since December 4 with heavyweight Reliance Industries contributing the most to the gains. At close, Nifty was up 1.80 per cent or 385 points at 21737.6.

Also Read: 'Apologise To PM Modi, Indian People': Maldives Oppn Leader Asks Pro-China President Muizzu

Nifty rose sharply on January 29 forming a long bull candle. 21851-21970 could be the next resistance band for the Nifty while 21482 could act as a support. Buildup ahead of the vote on account seems to have started. This upmove can be used for selectively reducing weight in individual stocks that have run up too fast, he said.BSE Sensex is down 223 points at 71,718.40 points. Bajaj Finance is down 4 per cent, ITC is down 1.7 per cent, and Reliance Industries is down 1.5 per cent.

Also Read: Chandigarh Mayor Election: AAP Moves High Court Alleging Vote Tempering After BJP Candidate's Victory | Updates

(This story has been published directly from a syndicated feed.)