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Budget-rally extends on D-St; Sensex surges 1,197 pts; SBI up 6%, TaMo 17%

The Sensex index reclaimed the 50,000 level in intra-day deals and hit a high of 50,154

MARKET WRAP | Markets | Budget 2021

SI Reporter  | New Delhi 


Stock market updates: The Indian extended their historic Budget-day rally into second day on Tuesday and ended nearly 2.5 per cent higher with financials and realty counters topping the charts. 

Among the headline indices, the S&P zoomed 1,197 points, or 2.46 per cent, to settle the day at 49,797.7 levels. The index reclaimed the 50,000 level in intra-day deals and hit a high of 50,154 before paring some of the gains. The broader index, meanwhile, topped the 14,600-mark and closed at 14,648 levels, up 367 points or 2.57 per cent.

UltraTech Cement, SBI, Bank, and L&T surged between 5 per cent and 7 per cent on the and remained the top gainers on the index. Shree Cement, Tata Motors, and Hindalco, up between 6 per cent and 15 per cent, were the other top gainers on the .

The broader rallied as well, but, once again, underperformed their benchmark peers. The S&P MidCap and SmallCap indices ended 2.26 per cent and 1.56 per cent higher, respectively.

The Nifty sectoral indices were painted green, with Nifty Auto and the Nifty Realty indices, up 4 per cent each. Meanwhile, the Nifty Bank index surged over 1,179 points to end at fresh closing high of 34,268. The index hit a life time high of 34,652 in the intra-day trade today.
Global cues
Global stock gained for a second day on Tuesday, spurred by increased optimism about economic stimulus and global recovery, while retail investors retreated from GameStop and their new-found interest in silver.

Positive momentum from Asia carried through to Europe, with the pan-European STOXX 600 edging up 0.9 per cent.

MSCI's world equity index, which tracks shares in 49 countries, was 0.4 per cent firmer after posting its strongest day in three months on Monday.

MSCI's gauge of Asia Pacific stocks outside Japan rose 1.5 per cent, with China's benchmark CSI300 Index climbing 1.5 per cent, helped by easing concerns about tight liquidity and falling cases of new coronavirus infections. Japan’s Nikkei 225 added 1 per cent.

E-mini futures for the index added 0.8 per cent.

(With inputs from Reuters)


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