Shares of Ultratech Cement fell 2.6% to Rs 9,900.05. The stock was the key loser in the Nifty 50.

The sectoral-index Nifty Bank trades over 180 points higher at 46.177.80.

Maruti Suzuki, Cipla, Power Grid, SBI Life Insurance, and HDFC Life were the top gainers in the Nifty 50. While Dr Reddy, L&T, Ultratech Cement, JSW Steeland UPL were the key losers in the Nifty 50.

Shares of The India Cements fell 9.4% to Rs 236.70.

“As expected, no major changes have taken place in the interim Budget including no big relief in personal income tax slabs which could disappoint retail investors in the near term. Keeping in mind the general elections in the coming months, markets are also reacting in a sideways manner as the ruling party victory seems to have already been factored in the stock prices. Investors should be booking profits at current levels as markets could correct in the near term with geo-political tensions ensuring inflation to remain sticky in the coming months as well,” said A R Ramachandran, co-founder of Tips2trades.

Maruti Suzuki, SBI Life Insurance, Power Grid Corp, and HDFC Life Insurance were the top gainers in the Nifty 50. While L&T, Dr Reddy, Grasim, Ultratech Cement, and LTIMindtree were the key losers in the Nifty 50.

“The FY25 interim Budget has come out better than expected even though the heightened expectations on many changes/giveaways have rightfully not been met now. The resolve to continue the fiscal consolidation path will be appreciated by global and local investors. Better than street expectations of fiscal deficit for FY24 and FY25 and the consequent lower borrowings target in FY25 has enthused the bond markets. Announcements on Rail infra spend and an 11.1% rise in overall capex would be in line with most expectations. All in all, we think the impact of the interim Budget on equity markets will be neutral to mildly positive for the near term and other emerging triggers will drive its trajectory later,” said Dhiraj Relli, managing director and chief executive officer at HDFC securities.

Shares of Adani Ports rose 1.5% to Rs 1,226.35 as the company declared its third-quarterly results.

Shares of SBI Life Insurance rose 3.6% to Rs 1,452.30. The stock was among the top gainers in the Nifty 50.

The sectoral-index Nifty Midcap 100 fell nearly 500 points to 48,119.85.

“As expected, the interim budget did not usher any surprises with no myopic measures announced. The government continued with its focus on infrastructure and increased the capex outlay by 11% covering railways, ports and aviation sectors. The government has walked the tight rope and followed a further fiscal consolidation path by promising to manage its finances well for FY25. The government did not bow down to the populist measures in the election year and kept the tax regime unchanged. Our overall reading is that the government has shown prudence in managing the various facets of economy and remains committed to the long-term vision of making India a developed economy by 2047,” said Swapnil Shah, director of research at StoxBox.

The Nifty is likely to hit 23,000-24,000 before the election, said Kishor Ostwal.

“Super budget … expansion of caoex positive and fiscal course better than expected,” said Kishor Ostwal.

The NSE Nifty 50 was up 26.30 points or 0.12% at 21,752. While the BSE Sensex was 137.81 points or 0.19% higher at 71,889.92.

Shares of Rail Vikas Nigam fell 3% to Rs 298.70.

GOVERNMENT CUT FISCAL DEFICIT TARGET TO 5.8% FROM 5.9%

Maruti Suzuki, Power Grid, Cipla, M&M, and TCS were the top gainers in the Nifty 50. While Dr Reddy’s Lab, ONGC, Grasim Industries, LTIMindtree, and L&T were the key losers in the Nifty 50.

Shares of SuzlonEnergy rose nearly 5% to Rs 48.20 after the Finance Minister said that 20 million houses to get free electricity via rooftop solar.

Shares of Cipla rose 2.6% to Rs 1,386.90 after the Finance Minister said the government will focus the vaccination drive on girl child.

The sectoral-indice Nifty Midcap 100 fell over 300 points or 0.64% to 48,260.40.

IFSC is creating a great global gateway for the economy said Finance Minister Nirmala Sitharaman.

Direct financial assistance provided to11.8 crore farmers: FM

The sectoral-indice Nifty FMCG rose 1.06% to 55,652.90.

“In line with market expectations, the US Federal Reserve left rates unchanged for a fourth straight meeting. However, there was a slight change in tone from the December meeting with the statement mentioning that the Fed does not expect rate cuts until it sees “greater confidence that inflation is moving sustainably toward 2% percent,” said Prashant Tandon, senior director of listed investments client advisory at Waterfield Advisors.

“The biggest worry for the Fed is not to repeat the same mistakes of the 1970s when flip-flopping in interest rate decisions took the inflation spectre above its first peak. We do not see a major impact of the current policy decision on financial markets with 10-year yields closing lower on the day and equity markets being driven by earnings expectations rather than immediate Fed policy,” said Tandon.

Shares of Dr Reddy’s Laboratories fell 2.5% to Rs 5,970. The stock was the key loser in the Nifty 50.

The central government cut the ATF prices by Rs 1,221 per kiloliter in Delhi ahead of the interim budget, according to some news reports.

Shares of Maruti Suzuki rose 4.5% to Rs 10,649. The stock is the top gainer in the Nifty 50.

The sectoral-indice Nifty Realty fell 0.64% to 850.75 ahead of the interim budget.