Indices post biggest Budget-day gain; Sensex ends 2,315 points up at 48,601

All that happened in the markets today

4:02 PM

Market View | Ajit Mishra, VP - Research, Religare Broking

We expect this budget rally to extend further however participants should be selective in their approach now. Going ahead, global cues and corporate earnings would also be on the radar. The way the banking index moved on the budget day, we feel it could lead the next leg of the rally alongside infra counters.

3:47 PM

Market stats ::M-cap of BSE listed companies soared by Rs 6.78 trillion to Rs 192.9 trillion

3:45 PM

Broader market underperforms benchmarks

3:43 PM

SECTOR OF THE DAY :: Insurance stocks cheer hike in FDI limit

3:40 PM

STOCK OF THE DAY :: Solid Q3 show lifts ICICI Bank to record high

3:39 PM

STOCK OF THE DAY :: IndusInd Bank zooms 15% on better-than-expected Q3 earnings

3:37 PM

Sectoral trends at NSE :: Nifty Pharma ends 0.5% lower in a strong market

3:36 PM

Sensex Heatmap :: Financials charge ahead on PSB recap, affordable housing boost

3:34 PM

Closing Bell

3:32 PM

Closing Bell :: Sensex logs best Budget day gain in absolute terms

3:26 PM

Was FM's Budget like 'never seen before'? Here's what D-Street mavens say

Thoughtful, unique, better than expectations -- that's how most experts on Dalal Street reacted to Finance Minister Nirmala Sithraman's Budget day presentation. While there is still a need to comb through the finer details of the Union Budget for the financial year 2022, the first impressions look quite promising with the government's focus on measures to boost growth, generate employment and attract investment. READ MORE

3:22 PM

Budget View | Aditya Narain, Head, Research, Institutional Equities, Edelweiss Securities

This is a budget that strikes the right cords. It marks a shift in its basic stance  - expansionary now, focuses on the plumbing of the operating environment through clearing regulatory cobwebs, and sets a path for a longer term policy stance. The markets will like it, it’s what a lot of economic doctors have been ordering, and while there will be risks in inflation and the currency, this is the time to take those risks. We do believe market players will be ready to take risk on the back of the approach and the risks the budget is taking. 

3:19 PM

NEWS ALERT | We decided to spend big on Infra in this Budget: Finance Minister

-- We attended to the need of the Health sector: FM

-- Decided to give greater impetus to the Economy in this Budget: FM

3:12 PM

Budget View | Dhiraj Relli, MD & CEO, HDFC Securities

The FM has delivered a unique Budget, wherein all the right measures have been proposed to speed up growth. The move of rationalization of spends, minimal changes to the direct and indirect taxes and no additional taxes will be well received. Higher spending will kickstart a virtuous cycle of growth. The expansion in spending will be funded by higher borrowings which has the potential to create an upward pressure on inflation and interest rates a few months down the line. We believe that the RBI will be in sync with the Govt and both will take necessary action to prevent this happening.

3:06 PM

Budget 2021 boosts rally in financials; ICICI, IndusInd, IDBI Bank jump over 10%

Shares of financials including banks, non-banking housing finance companies (NBFCs), housing finance, and insurance companies were in focus on Monday as they surged up to 20 per cent as Finance Minster Nirmala Sithraman, while presenting the Union Budget for financial year 2021-21, made various announcements including increase in foreign direct investment (FDI) limit in the insurance sector, recapitalisation and privatisation of public sector banks (PSBs). That apart, strong Q3 performance of certain individual banks for the quarter ended December 2020 (Q3FY21) also boosted sentiment. READ MORE

2:57 PM

NEWS ALERT | Budget 2021 to boost India's self-confidence: PM Modi

-- Ease of living has been emphasised upon in this Budget: PM Modi

-- The transparency of this budget has been appreciated by a lot of experts: PM Modi

 

-- The Budget will bring positive chances in infrastructure, industry: PM Modi

2:46 PM

NEWS ALERT :: India Budget highlights challenges to stabilising debt, says Moody's

>> Covid impact to pose downside risk to credit growth

2:43 PM

Jan Auto Sales | TVS Motor Co reports 31% YoY rise in sales

>> TVS Motor Company sales grew by 31% registering 307,149 units in January 2021 as against 234,920 units in the month of January 2020. 

>> Two-wheelers: Total two-wheelers sales grew by 34% recording 294,596 units in January 2021 as against 220,439 units in January 2020.  Motorcycle grew by 45% recording 136,790 units in January 2021 as against 94,367 units in January 2020. Scooter sales of the Company grew by 36% registering 98,319 units in January 2021 as against 72,383 units in January 2020.

>> Three-wheelers: Three-wheeler of the Company registered sales of 12,553 units in January 2021 as against 14,481 units in January 2020.

>> Exports: The Company's total exports grew by 43% registering 100,926 units in the month of January 2021 as against 70,784 units in January 2020.

2:39 PM

Expert Tweets :: Uday Kotak on Budget 2021

2:32 PM

OPINION | Budget 2021 is fiscally stimulating, but more on expenditure side

The Union Budget for fiscal 2021-22 (FY22) was to deliver a lot, as expectations had built up to a crescendo after the government signalled that something big should be expected. As it is, an official update on what has transpired in FY21 and what is to be expected in FY22, the announcements and revelations are important. On the expenditure side, the Budget surely does fulfill meeting expectation. READ MORE

2:29 PM

Sitharaman gives further push to affordable housing projects in Budget 2021

Affordable housing projects are expected to get a boost with the Finance Minister Nirmala Sitharaman's annoucements for the segment.
 

Sitharaman proposed to extend the Rs 1.5 lakh benefit on interest paid on affordable housing loans by one year to March 31, 2022. Last year this was extended by a year to March 2021 from March 2020 earlier. READ MORE

2:22 PM

Bad bank, no Covid cess: Why Sensex zoomed 1,900 pts post Budget proposals

The markets gained ground post the Budget speech by Finance Minister Nirmala Sitharaman with the S&P BSE Sensex surging over 1,900 points in intra-day trade. The Nifty50, on the other hand vaulted around 4 per cent during the day to reclaim 14,000 levels. The optimism despite higher borrowing and a wider fiscal deficit, analysts say, was on account of the positive measures to revive the Covid-19 hit economy. That said, while the fiscal deficit number and the gross borrowing estimates are a tad higher-than-expected, the money, analysts say, is being put to good use. READ MORE

2:22 PM

Budget View | Ashishkumar Chauhan, MD & CEO, BSE

Over all, the Budget is big on large picture and vision despite the calamitous period we have witnessed last financial year . I would give it 9.5/10.The markets were buoyant reacting to the budget proposals as no new taxes and levies have been imposed. The rationalization of tax structures for FPIs, NRIs, InvITS and REITs will also help attract more funds for capital formation in India. A consolidated Securities Market Act, Domestic Gold Exchange regulator, LIC IPO, other PSU disinvestments by showing a clear cut forward path has given tremendous boost and strengthened the markets infrastructure framework for capital formation. Tax efficient zero coupon bonds for infra financing will bring in significant flows and enhance the role of the capital markets in nation building.

2:18 PM

Gold, Silver to get cheaper as FM announces customs duty cut in Budget

India slashed the import duties on gold and silver to 7.5% from 12.5%, Finance Minister Nirmala Sitharaman said on Monday, as the world's second biggest gold consumer tries to bring down smuggling of the precious metal. Gold futures fell more than 3% following the surprise announcement in the annual budget by Sitharaman.

(-- via Reuters)

2:08 PM

Insurance shares gain on hike in FDI limit to 74%; Bajaj Finserv surges 9%

Shares of companies engaged in insurance business rallied by up to 9 per cent on the BSE on Monday after the government proposed to increase foreign direct investment in the sector to 74 per cent, a move aimed at attracting overseas players. The limit on FDI in Indian insurance companies will be lifted from 49 per cent to 74 per cent, said Finance Minister Nirmala Sitharaman on Monday in her Budget speech for 2021-22. READ MORE

1:59 PM

Bank stocks on fire :: Nifty Bank index jumps 7%

1:50 PM

Expert Tweets :: Vikas Khemani, founder of Carnelian Capital Advisors on Budget 2021

1:43 PM

Market View | Krishna Kumar Karwa, Managing Director - Emkay Global

Hats off to the FM for sticking to her promise of a budget that will be remembered for 100 years. A budget with no changes in Direct taxes will certainly be remembered for years to come. Equity market will be enthused with no tinkering in capital gains taxes or STT or any form of Covid tax. The proposals to privatize 2 PSBs and 1 general insurance co is noteworthy as is increase in FDI limit in Insurance to 74%. The much awaited proposal to set up a DFI should boost capex in the coming years. To summarise the revival  in the economy seen in the last 4-5 months will be further enhanced with the  various budget proposals. Tax buoyancy, successful divestments and quick monetization of operating infrastructure assets remain a key to achieving the fiscal deficit target of 6.8 % for FY 21-22.

1:42 PM

Market Update :: Bulls in charge on D-Street; Sensex zooms 1,900 points

1:42 PM

Nifty Pharma index slips 0.7 per cent in an otherwise firm market