Indices post biggest Budget-day gain; Sensex ends 2,315 points up at 48,601
All that happened in the markets today
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LIVE updates: The Indian markets recorded their sharpest-ever Budget rally (in absolute terms) on Monday, ending the session 5 per cent up, as investors cheered the Budget 2021 presented by Finance Minister Nirmala Sitharaman in the Parliament today. The FM announced capital expenditure of Rs 5.54 trillion for FY22 as against Rs 4.39 trillion for FY21. Further, she announced the FY22 disinvestment target at Rs 1.75 trillion while the FY21 fiscal deficit was pegged at 9.5 per cent of GDP. READ WHY THE MARKETS ZOOMED TODAY
Overall, the market capitalization of the BSE-listed companies increased by Rs 6.78 trillion to Rs 192.9 trillion. Among the headline indices, the S&P BSE Sensex gained 2,315 points, or 5 per cent, to 48,601 level. The broader Nifty50 index also reclaimed the psychological level of 14,000 level and closed the session at 14,281. IndusInd Bank (up 15%), ICICI Bank (up 12%), and Bajaj Finserv (up 11%) were the top Sensex gainers.
Meanwhile, India VIX cooled off 8 per cent to 23.3 levels.
All the Nifty sectoral indices, except Nifty Pharma index, ended the day in green, led by Nifty Bank index up 8 per cent, which recorded its fresh lifetime high. The index also logged its biggest one-day gain.
In the broader markets, the S&P BSE MidCap and SmallCap indices were up 3 per cent and 2 per cent, respectively.
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
Topics : Nirmala Sitharaman Coronavirus Fiscal Deficit MARKET WRAP Markets Union Budget Budget 2021 Sensex NSE BSE SGX Nifty Nifty 50 Economic recovery stock market Dalal Street Wall Street
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First Published: Feb 01 2021 | 6:16 AM IST