 "Investors gain over Rs 1.5 lakh crore as Sensex rallies 486 points")
Investors' stock market wealth increased by over Rs 150,000 crore (Rs 1.5 lakh crore) on Wednesday after the Sensex recorded its sharpest single-day rally on Budget day in past one decade.
The total investor wealth, measured in terms of cumulative market value of all listed companies, rose by Rs 1.71 lakh crore and stood at Rs 114.27 lakh crore at the end of the day's trade as the equity markets have given a huge thumb up to the Union Budget 2017, presented by the Finance Minister today.
The data shows that the 1.76% rise (or 486 points) in Sensex registered during the day was the biggest in last 12 years since February 28, 2005.
Of Rs 1.70 lakh crore m-cap gain, almost one-third or Rs 59,738 crore got increased from the financial sector including banks, non-banking financial company (NBFC). Automobile sector added Rs 23,672 crore in total m-cap gain, followed by cigarettes (Rs 14,249 crore), realty & infrastructure (Rs 11,225 crore), refineries (Rs 10,536 crore) and cement (Rs 8,142 crore).
To the relief of investors, Jaitley made no reference to long-term capital gains tax on equities, and also set a comfortable fiscal deficit target of 3.2% for the fiscal year 2017-18. The Finance Minister Arun Jaitley announced a slew of incentives for affordable housing in his Budget 2017-18.
“The Budget has managed a fine balancing act between providing a boost to demand and at the same time keeping an eye on fiscal consolidation. Notably, the Budget this year was presented in the backdrop of relatively higher expectations by both – consumers and corporates, which were affected by the government’s demonetization drive,” said Jayant Manglik, President, Retail Distribution, Religare Securities.
Increasing the spend on the rural sector by 24%, halving of the personal income tax rates in the lowest personal income-tax slab and reducing the tax by 5% for MSMEs with an annual turnover of upto Rs 50 crore along with no significant compromise on the fiscal deficit front (20bps increase), together indicate the delicate balancing that the government has achieved in the Budget this year. Rural, Agriculture, Infrastructure and Housing were among the key sectors that found particular importance this year, added Jayant Manglik.
Forty-five stocks from the S&P BSE 500 index saw market capitalisation risen by more than Rs 1,000 crore each.
The total investor wealth, measured in terms of cumulative market value of all listed companies, rose by Rs 1.71 lakh crore and stood at Rs 114.27 lakh crore at the end of the day's trade as the equity markets have given a huge thumb up to the Union Budget 2017, presented by the Finance Minister today.
The data shows that the 1.76% rise (or 486 points) in Sensex registered during the day was the biggest in last 12 years since February 28, 2005.
Of Rs 1.70 lakh crore m-cap gain, almost one-third or Rs 59,738 crore got increased from the financial sector including banks, non-banking financial company (NBFC). Automobile sector added Rs 23,672 crore in total m-cap gain, followed by cigarettes (Rs 14,249 crore), realty & infrastructure (Rs 11,225 crore), refineries (Rs 10,536 crore) and cement (Rs 8,142 crore).
To the relief of investors, Jaitley made no reference to long-term capital gains tax on equities, and also set a comfortable fiscal deficit target of 3.2% for the fiscal year 2017-18. The Finance Minister Arun Jaitley announced a slew of incentives for affordable housing in his Budget 2017-18.
“The Budget has managed a fine balancing act between providing a boost to demand and at the same time keeping an eye on fiscal consolidation. Notably, the Budget this year was presented in the backdrop of relatively higher expectations by both – consumers and corporates, which were affected by the government’s demonetization drive,” said Jayant Manglik, President, Retail Distribution, Religare Securities.
Increasing the spend on the rural sector by 24%, halving of the personal income tax rates in the lowest personal income-tax slab and reducing the tax by 5% for MSMEs with an annual turnover of upto Rs 50 crore along with no significant compromise on the fiscal deficit front (20bps increase), together indicate the delicate balancing that the government has achieved in the Budget this year. Rural, Agriculture, Infrastructure and Housing were among the key sectors that found particular importance this year, added Jayant Manglik.
Forty-five stocks from the S&P BSE 500 index saw market capitalisation risen by more than Rs 1,000 crore each.
ITC was the biggest gainer, recorded m-cap gain of Rs 14,127 crore in a single day. Maruti Suzuki India and State Bank of India (SBI) added m-cap of Rs 8,000 crore each, while HDFC, ICICI Bank and Tata Motors added more than Rs 5,000 crore each in total m-cap gain.
| Price on BSE in Rs | M-cap in Rs crore | |||
| Company | 01/02/2017 | % chg | 01/02/2017 | Change |
| GAINERS | ||||
| ITC | 269.70 | 4.5 | 327041 | 14127 |
| Maruti Suzuki | 6172.85 | 4.7 | 186469 | 8348 |
| SBI | 270.30 | 4.0 | 215524 | 8213 |
| HDFC | 1414.95 | 3.6 | 224284 | 7704 |
| ICICI Bank | 280.90 | 4.4 | 163519 | 6898 |
| Tata Motors | 541.70 | 3.5 | 156408 | 5226 |
| HDFC Bank | 1306.20 | 1.5 | 334165 | 4925 |
| Indian Oil Corp | 375.40 | 2.6 | 182290 | 4540 |
| Larsen & Toubro | 1490.75 | 3.2 | 139080 | 4292 |
| Mahindra & Mahindra | 1296.90 | 4.6 | 80550 | 3574 |
| LOSERS | ||||
| TCS | 2169.45 | -2.7 | 427468 | -11911 |
| Infosys | 916.55 | -1.4 | 210526 | -2929 |
| ONGC | 200.25 | -0.9 | 256986 | -2438 |
| InterGlobe Aviation | 836.00 | -7.2 | 30479 | -2364 |
| NTPC | 170.55 | -1.3 | 140626 | -1814 |
| Sun Pharma | 624.85 | -1.1 | 150389 | -1613 |
| Bharti Airtel | 345.05 | -0.8 | 137930 | -1139 |
| Idea Cellular | 107.45 | -2.5 | 38700 | -990 |
| Aurobindo Pharma | 666.65 | -2.3 | 39012 | -916 |
| % chg, change over previous day | ||||
| From S&P BSE 500 index | ||||
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