What's moving Sensex and Nifty

Financial markets react to developments in the commodities market, tracking movements in crude oil futures and gold futures prices.

Tracking the latest developments in the commodities market:

Crude oil futures prices fell on Monday after surging nearly 7% last week. West Texas Intermediate crude futures, the U.S. oil benchmark, fell 1.47%, trading at $79.08 a barrel. On Friday, crude futures prices closed at $80.51 a barrel.

Gold futures prices rose on Monday after ebbing and flowing last week. December gold futures rose 0.33%, trading at $1,978.40 a barrel. On Friday, gold futures prices closed at $1,970 a barrel.

Financial markets are also keeping an eye on the latest developments in the IPO market.

Startup food delivery platform Swiggy is planning to launch its initial public offering (IPO) in December, aiming to raise $1.2 billion to $1.5 billion, Bloomberg reported on Monday, citing people with knowledge of the matter.

The company, which is backed by SoftBank Group Corp and used to be known as TinyOwl, is valued at around $8 billion to $10 billion, according to the report.

Swiggy's IPO plans come amid a strong year for startups in India to go public.

The latest IPO filing comes after the company's preferred lender, State Bank of India, reportedly disclosed plans to offload its entire stake in food services provider Food Solutions and Technologies, which operates the "ReadySetGo" brand. SBI's FSTC holding is valued at around Rs 1,087 crore, and the lender is planning to sell its entire stake in the company to a single investor, two sources told Economic Times.

The move by SBI follows a report by Business Standard that stated plans by Avanta Ventures to sell a part of its stake in FSTC through the open market. Avanta had invested Rs 750 crore in FSTC in 2022.

The development in the IPO market comes as the Union Budget 2025 session commences today.

The government is expected to announce new measures to boost economic growth and create jobs in the upcoming Budget 2025, which will be presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday.

The Budget 2025 will be keenly watched by financial markets for any indication of the government's fiscal stance and planned spending programs.

The government is also expected to announce new measures to raise revenue and reduce the fiscal deficit.

The Union Budget 2025 session will begin today with the Economic Survey 2025 being tabled in Parliament by the government.

The survey will provide an overview of the Indian economy and highlight the key challenges and opportunities facing the country in 2025. It will also make recommendations for the upcoming Budget 2025, which will be presented later this week.

The Economic Survey is usually optimistic in its outlook for the Indian economy. In the previous year's survey, the government had projected that the Indian economy would grow at a rate of 8%-8.5% in the fiscal year 2025, making it one of the fastest-growing major economies in the world.

However, the global economic outlook has deteriorated since then, and several organizations have downgraded their growth projections for India. The International Monetary Fund (IMF) has projected India's economic growth to slow to 7% in 2025, while the World Bank has projected growth of 6.3%.

The Economic Survey is expected to revise these growth projections and provide an updated outlook for the Indian economy in 2025. It will also discuss the challenges posed by inflation, unemployment, and trade tensions.

The survey is also expected to make recommendations for the upcoming Budget 2025. It could suggest new measures to boost investment, create jobs, and promote exports. The survey may also recommend ways to raise revenue and reduce the fiscal deficit.

Financial markets will be closely tracking the Economic Survey for any indication of the government's economic thinking and its priorities for the upcoming year. The survey's recommendations will be taken into account by the government when preparing the Union Budget 2025.

The Union Budget 2025 will be presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday, February 7. The Budget will announce the government's fiscal plans for the upcoming year and will include measures to boost economic growth and create jobs.

The Budget 2025 will be keenly watched by financial markets for any indication of the government's fiscal stance and planned spending programs. The government is also expected to announce new measures to raise revenue and reduce the fiscal deficit.

Here's a closer look at the latest developments in the financial markets:

The Union Budget