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.

SEBI has put on hold the applications of some foreign portfolio investors for exemption from disclosing details about their investments. This decision comes after concerns were raised about the effectiveness of the current disclosure rules, which require FPIs to reveal the ultimate ownership of their investments in India.

Maruti Suzuki India Limited may see a rise in its stock prices on February 1 due to positive results and forecasts from various brokerages. The company reported a strong net profit and revenue growth in the third quarter, leading to increased recommendations to buy the stock. With improvements in margins and strong sales figures, experts believe the company is well-positioned for future growth.

The impact of Union Budget on equities has reduced over the years, but it remains significant for D-St. The FM, Nirmala Sitharaman, will present the Interim Budget for 2024-25 today. The market performance on Budget days has shown negative returns in the past, with the steepest fall in 2020. The recent state assembly elections and improved macroeconomic landscape have boosted investor confidence.

Tesla is expanding its battery facility in Nevada to produce cheaper lithium iron phosphate batteries and reduce dependence on China. The plant will initially have a capacity of 10 gigawatt hours and use equipment from Chinese supplier CATL. This move comes as US regulations limit reliance on countries like China for battery materials.