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Budget boosts bourses, Sensex rises over 1,000 points
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Budget boosts bourses, Sensex rises over 1,000 points (Ld)
By IANS |
Published on
Tue, Feb 2 2021 14:42 IST |
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Growth chart. (File Photo: IANS). Image Source: IANS News
Mumbai, Feb 2 : India s key stock markets continued their bull run during Tuesday s mid-noon session with the S&P BSE Sensex gaining over 1,000 points.
Investors continued to cheer the fact that the budget did not announce any additional burden in terms of taxes or cess on citizens and corporates.
Amongst sectors, buying was witnessed in Media, Banking and Auto indices.
Banking stocks surged after the Finance Minister on Monday announced that two public sector banks will be privatised apart from the IDBI Bank in the upcoming financial year.
Budget to boost investment, stock indices make major gains
02 Feb 2021 An employee works in a share trading firm in Kolkata. Agence France-Presse
India’s key stock markets continued their bull run during Tuesday’s trading session as budget decisions continued to boost positive sentiments. Sensex of the Bombay Stock Exchange (BSE) closed at 49,797.72, higher by 1,197.11 points or 2.46 per cent from its previous close of 48,600.61. It opened at 49,193.26 and has touched an intra-day high of 50,021.59 and a low of 49,193.26 points
The Nifty50 on the National Stock Exchange (NSE) closed at 14,647.85, higher by 366.65 points or 2.57 per cent from its previous close.
Investing community continued to cheer the fact that the budget did not announce any additional burden in terms of taxes or cess on citizens and corporates. Amongst sectors, buying was witnessed in Media, Banking and Auto indices.
Sensex above 49,700; RIL shares up nearly 2%
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The Indian benchmark indices ended Friday s session lower, down over 1 per cent, triggered by an across-the-board sell-off that saw all the Nifty sectoral indices ending the session in the red. Among headline indices, the S&P BSE Sensex tumbled as much as 788 points from the previous day s close to 48,796 in the intra-day deals, before partially erasing the losses and ending at 49,035, down 549 points. The broader Nifty50 index ended the day 1.1 per cent lower at 14,434. The fall comes amid worries over the Indian markets soaring valuations and profit booking by investors after the major information information technology (IT) companies posted better-than-expected results in the December quarter.
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