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Union Budget 2021 euphoria continues; Sensex soars nearly 1,200 points, Nifty tops 14,600
As India is emerging from the COVID-19 crisis, the ninth budget under the Modi government (including an interim one), the Finance Minister`s prime target is to boos spending on job creation and rural development, generous allocations for development schemes and easing rules to attract foreign investments.
Highlights
- Post-Budget rally continued.
- Markets rose for second session.
- Sensex has amassed 3,511 points in two days.
New Delhi: The Union Budget announcement by Finance Minister Nirmala Sitharaman continued to give fresh impetus to the markets, with both equity indices soaring over 2.4 percentage in closing session on Tuesday.
The post-Budget rally continued for the second session with the BSE Sensex climbing 1,197.11 points or 2.46 percent higher at 49,797.72. The BSE gauge topped the 50,000-level briefly and swung 1,554 points during the day. Similarly, the Nifty advanced 366.65 points or 2.57 per cent to end the session at 14,647.85. Together with Budget day gains, the Sensex has amassed 3,511 points or 7.58 per cent in two sessions, and the Nifty has accumulated 1,007.25 points or 7.38 per cent.
Top gainers included SBI, UltraTech Cement, HDFC Bank, L&T, Bharti Airtel, Maruti Suzuki, Kotak Bank, Sun Pharma, Powergrid, HDFC, HCL Tech and Mahindra and Mahindra, rising upto 7.10 percent. Major losers on the other hand were Bajaj Finserve, Titan and HUL, falling upto 2.34 percent. Of the Sensex constituents, 27 shares closed in the green. Foreign institutional investors bought equities worth a net Rs 1,494.23 crore on Monday, exchange data showed.
Meanwhile, the rupee ended 6 paise higher at 72.96 against the US dollar. Elsewhere in Asia, stock markets closed with gains on Tuesday amid signs of progress in US stimulus talks.
Finance Minister Nirmala Sitharaman presented the much awaited Union Budget 2021 with a major focus more on driving the economic recovery through higher spending on healthcare and infrastructure.
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As India is emerging from the COVID-19 crisis, the ninth budget under the Modi government (including an interim one), the Finance Minister's prime target is to boos spending on job creation and rural development, generous allocations for development schemes and easing rules to attract foreign investments.