The upcoming interim Budget for 2024-25 is estimated to rely on a 10.5% nominal GDP growth, higher than the predicted 8.9% for the same period. This has a significant impact on fiscal calculations and deficit-to-GDP ratio, with higher growth resulting in a lower deficit. However, economists suggest that a lower-than-budgeted growth of 8.9% this year could lead to minor fiscal slippage.

Gold prices dropped on Thursday after the US Fed announced that it would not be cutting interest rates in March, reaffirming its goal of 2% inflation. This news strengthened the US dollar and lowered demand for the precious metal. Gold futures on MCX and Comex both saw a decline, while the dollar index rose. Despite the reduced chances of an imminent rate cut, gold is still set for a weekly gain.

Shree Cement's shares soar 6% to a new high after impressive Q3 earnings, with net profit doubling and revenue growing. Analysts recommend buying the stock due to its efficient operations, ambitious capex plans, and potential for growth in premium products. Central government spending and upcoming elections expected to boost cement demand.

Godrej Consumer Products saw a 12% surge in their shares after posting solid earnings for Q3. Net profit rose by 6.4%, exceeding expectations, and revenue grew by nearly 2%. Despite challenges in international markets, the company's EBITDA margin expanded to 23%, a significant improvement from the previous year.

Finance Minister Nirmala Sitharaman will present the pre-election budget that highlights achievements of the Modi government in the past 10 years and outlines plans to make India a developed nation by 2047. All eyes are on whether the budget will be populist or focused on fiscal reform, with key numbers like fiscal deficit, disinvestment, and capital expenditure being closely watched.

Markets saw a significant increase a day before the interim budget, with key indices gaining points and private banks making major contributions. Traders and investors will need to strategize for potential volatility on budget day, which also coincides with the US Fed outcome. With 88 companies announcing quarterly results, there are opportunities for traders to opt for Iron Butterfly approach.

Budget presented by FM Nirmala Sitharaman for FY24 will impact popular stocks like L&T, ITC, NTPC, UltraTech Cement, Reliance Industries, HDFC Bank, HUL, and Maruti Suzuki. Companies in the infrastructure, FMCG, power, and auto sectors can benefit from potential announcements related to capex spending, rural economy support, renewable energy, fiscal deficit targets, auto PLI, and FAME schemes.

British house prices rose 0.7% in January, exceeding economists' expectations and indicating a potential easing of high interest rates. The annual decline was also less than predicted, with prices only 0.2% lower than the previous year. The Bank of England is expected to keep rates steady, but may lower inflation forecasts which could lead to a rate cut later in the year.

The US Federal Reserve has decided to maintain interest rates, citing a balanced risk for inflation and employment. While acknowledging economic uncertainty, the Fed says inflation is still high and they will not lower rates unless it sustains at 2%. This decision has led to changes in treasury yields, dollar index, and S&P 500 index. Stay tuned for updates.

TCS on credit card international spends has been a hot topic lately. Last year, the government implemented a Rs 7-lakh spend threshold for TCS to apply on these transactions, but eventually exempted credit cards from TCS altogether. It is unlikely that this will change in Budget 2024, as experts believe the Rs 7 lakh yearly limit is sufficient for most individuals with foreign expenses.

The report by Geojit discusses the current state of rabi crop production in Maharashtra, with a 4.8% decrease in acreage compared to last year. This is due to a decline in gram and pulses crops, while wheat and jowar have seen an increase. The water levels in dams have also dropped significantly compared to last year.

Kajaria Ceramics, a leading India tile manufacturer, saw a 40.2% increase in third-quarter profit due to high demand in the housing and construction sectors. This was driven by the government's infrastructure development push ahead of the general election. The company also benefited from lower gas prices, accounting for one-fourth of its expenses, and invested in two subsidiaries.

Mutual fund schemes increased their holding in Paytm by 77% between Sept and Dec 2023, with 68 schemes holding shares worth Rs 1,995 cr as of Dec 31. The holdings increased from 1.78 crore to 3.15 crore shares during this period, according to Rupeevest. Mirae Asset MF, Quant MF, and Nippon India MF are among the fund houses that added shares of Paytm in Dec.

📈 Amid mixed global cues, benchmark indices started on a flat note today. 📊 At 9:16 AM, the Sensex gained 83.90 points or 0.12% at 71,836.01 and the Nifty was up 26.40 points or 0.12% at 21,752.10. 📢 Godrej Consumer (⬆️5.90%), Dixon Tech (⬆️4.66%) and Shree Cements (⬆️3.91%) appeared as the top performers on the Nifty50 at open. Paytm plunges 20%.

Indian benchmark indices are expected to open positively, despite a negative trend in Asian and US markets. With the Finance Minister delivering the Budget Speech later today, analysts predict volatility in the markets, with investors staying cautious. The Nifty 50 saw gains on January 31, thanks to banking stocks, but still faces resistance at 21,750-21,850.