Latest Stock Market News

Tax officials would scrutinise unreported crypto earnings during searches and reassessments, while from next year crypto platforms and intermediaries would begin reporting large deals to the I-T department as banks, mutual funds, and property registrars do.

Nifty’s Realty index jumped 3.4%, while Fast Moving Consumer Goods (FMCG) and Consumer Durables indices were up about 3% each. The Nifty Auto index gained 1.9%. Benchmark Nifty ended 0.1% lower.

Threshold limit of tax deducted at source (TDS) on dividend income from MFs has been doubled to ₹10,000. Now, there will be zero TDS on dividend income of up to ₹10,000.

The budget aims to balance fiscal discipline, infrastructure growth, and middle-class support. It highlights a target to reduce the fiscal deficit, increase capital expenditure, and overhaul the new tax regime to boost consumption. The focus on growth with fiscal prudence is set to enhance economic prospects.

There was a visible shift in tilt towards supporting consumption through lower taxes on middle class households, relative to the public capex-driven growth push witnessed over the past few years. Through this budget, the consumption story gets the much-needed push, while the capex story continues broadly as earlier.

While many were talking about the need for interest rate cuts, the real issue at this point was the slowdown in consumption. The government has put money in the hands of people at the lower end of the income spectrum through tax reductions. This was the need of the hour and, in that context, it was the right budget for this stage of the economic cycle.

The Finance Minister’s Budget announcements drove gains across FMCG, automobiles, consumer durables, insurance, and green energy stocks.

Global e-commerce giant Amazon on Saturday sold shares of business services provider Quess Corp for Rs 46 crore through an open market transaction, while promoter billionaire Prem Watsa promoted Fairfax Capital increased its holding in the company.