Only buyers: Low-priced stocks hit upper circuits on budget-infused surge!

The budget underscored a notable focus on advancing the textile industry, power sector, solar energy, logistics, railways, financial inclusion, and affordable housing

The Finance Minister, Nirmala Sitharaman, initiated her speech by emphasizing that the government's foremost priorities are addressing the requirements and aspirations of the poor, women, youth, and farmers. The government remains committed to prioritizing infrastructural development, and in the interim budget for 2024, there is a proposal to raise capital expenditure for the fourth consecutive year by 11.1 per cent, reaching Rs 11.11 lakh crore.

The domestic indices responded unfavourably to the budget developments, experiencing a decline that resulted in the trading session concluding marginally lower. The broader indices witnessed a more substantial decline in comparison to the main indices.

The lack of investor optimism was evident across the sectoral landscape, as a majority of sectoral indices concluded in the red territory. Particularly, telecommunications, capital goods, and industrial sector stocks were notable contributors to the significant declines.

The budget underscored a notable focus on advancing the textile industry, power sector, solar energy, logistics, railways, financial inclusion, and affordable housing. In reaction to the developments in these areas, there was a substantial increase in buying interest, causing many stocks from these sectors to hit the upper circuits.

Below is a list of low-priced stocks that experienced upper circuits, propelled by a notable boost from the budget -

Disclaimer: The article is for informational purposes only and not investment advice