Benchmark indices hit fresh record high in early afternoon trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, surged 580.81 points or 1.17% at 50,378.53. The Nifty 50 index jumped 180.90 points or 1.23% at 14,828.75.
The Sensex scaled record high of 50,408.47 while the Nifty recorded an all-time high of 14,845.45.
In the broader market, the S&P BSE Mid-Cap index rose 1.54% while the S&P BSE Small-Cap index gained 1.63%.
The market breadth was strong. On the BSE, 1,742 shares rose and 991 shares fell. A total of 174 shares were unchanged.
The Union Budget 2021 unveiled on 1 February 2021 supported all the essential aspects of growth by an increase in government spending without an increase in indirect taxes. The Budget offered huge stimulus to infrastructure, capex, healthcare and boosted the credit flow by taking out the toxic assets of the banking system. Increased FDI limit in insurance improved the overall outlook of the sector.
Read more about Benchmarks at day s high; healthcare stocks in demand on Business Standard. In broader market, the S&P BSE Mid-Cap index was up 0.53% while the S&P BSE Small-Cap index was up 0.38%.
Read more about Hospital operators in demand after FM lays out spending plan on Business Standard. Shares of five hospital operators rose 1% to 4% after the central government announced a Rs 64,180 crore spending plan for healthcare over the next six years.