Farm crisis topped the agenda of acting Finance Minister, Piyush Goyal who presented the Interim Union Budget 2019 on Friday, as the ruling government led by Narendra Modi approaches the end of its term. 

Following stocks are close to their 52-week low as at 2.14 p.m. on February 1, 2019.

The markets on February 1, 2019 opened gap up. BSE Sensex is trading at 36,505.07, up by 248.38 points and the Nifty is trading at 10,923.55, up by 92.60 points. 

In the interim budget of 2019 the government fixed the fiscal deficit at 3.4 per cent for FY20 and the Current Account Deficit is expected at 2.5 per cent of the GDP. The fiscal deficit slippage is owing to the newly announced farm package.

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After the interim budget volatility is likely to increase, we may see some more depreciation at the rupee’s end.

Overall volumes in futures & options currently stand at 3.24 crore contracts with a turnover of Rs. 19,64,632.45 crore.

Overall volumes in futures & options currently stand at 3.24 crore contracts with a turnover of Rs. 19,64,632.45 crore.

The index after touching 200-day EMA bounces back and formed bullish candle on Thursday and also managed to open with upside gap on Friday, which indicates bulls are in a dominant position. This movement can be attributed to the budget's focus on farm and rural sector, and the fact that rural income is a major factor driving FMCG sales.

The stock of Jet Airways was surging in Friday's morning session as the market expected a resolution of its financial crisis with Etihad agreeing to rescue the ailing airline.