Budget was in support of Adani Group, these announcements of Nirmala Sitharaman gave a big boost to the shares

Union Finance Minister Nirmala Sitharaman today Modi government presented the last budget of the second term of. In this, he made some such announcements which provided support to some shares of the market. Talking about Adani Group Stocks, shares of flagship company Adani Enterprises jumped by more than 1 percent. Adani Enterprises’ business is spread across sectors and it got support from the announcements made by the Finance Minister such as 11 per cent increase in capital expenditure. Here below the status of shares of Adani Group and the announcements of the Finance Minister are being explained.

What is the status of Adani Group Stocks?

10 shares of Adani Group are listed in the domestic market. Only two of its shares are in the red zone.

Which budget announcements had an impact?

Union Finance Minister Nirmala Sitharaman announced in the interim budget to increase the capital expenditure by 11.11 percent to Rs 11,11,111 crore as compared to last year’s Rs 10 lakh crore, which will be 3.4 percent of the GDP. Infrastructure related stocks got support from this capital expenditure. Apart from this, it was announced to install solar plates on the roofs of 1 crore houses, which will provide 300 units of free electricity to the houses. Power energy shares got support from this announcement.

What was the market situation?

There was a lot of ups and downs in the domestic market throughout the day. When Finance Minister Nirmala Sitharaman started the budget speech, Sensex and Nifty moved to intra-day high. When his speech ended, the markets fell to the lowest level of the day. Today Sensex had crossed 72150 intra-day and came below 71600 intra-day. Talking about Nifty, it had crossed the level of 21800 in intra-day and on the downside it had come below 21660.