The BSE Sensex dropped 452 points, while the Nifty declined by 150 points, reflecting ongoing market fluctuations following the presentation of the Union Budget 2025 by Finance Minister Nirmala Sitharaman.
Among the key highlights of the Budget was the announcement of no income tax on earnings up to 12 lakh, which initially sparked a market surge but was quickly followed by a downturn.
Agri Stocks
Shares of agriculture companies surged up to 13 per cent on Saturday after Finance Minister Nirmala Sitharaman announced PM Dhan-Dhaanya Krishi Yojana, covering 100 districts with low yields, modern crop intensity and below-average credit parameters.
The scrip of Kaveri Seed Co soared 13.49 per cent to Rs 1,020.70 apiece, Mangalam Seeds climbed 7.09 per cent to Rs 222, Nath Bio-Genes jumped 5.77 per cent to Rs 178.60, Dhanuka Agritech increased 2.61 per cent to Rs 1,479.35 and UPL appreciated 0.94 per cent to Rs 609 on the BSE.
Textile Stocks
Stocks related to textile industry surged after Finance Minister Nirmala Sitharaman on Saturday announced a five-year mission to promote cotton production.
Ambika Cotton Mills jumped 9.95 per cent, Welspun Living soared 5.19 per cent, Arvind Ltd surged 4.49 per cent, Alok Industries rallied 4.38 per cent, Indo Count Industries went up 4.32 per cent and Vardhman Textiles climbed 3.72 per cent on the BSE. India will launch a national mission on high-yielding seeds, Finance Minister Nirmala Sitharaman said on Saturday. She also announced a five-year mission to promote cotton production.
