Why Sensex surged over 2,300 points on Budget day? Explained in 10 points
Sensex surged over 2,000 points
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Indian stock markets surged today with Sensex surging over 2,300 points to 48,600 after the finance minister announced a slew of measures to revive the pandemic-hit economy. The NSE Nifty 50 surged 4.7% to 14,281. This marked the Nifty s best daily performance on a budget day since at least 1996, according to Refinitiv data.
Finance Minister Nirmala Sitharaman proposed a vehicle scrappage policy, recapitalisation of public-sector banks and divestment of some state-owned lenders, aiming to bolster an economy that plunged into its deepest recorded slump amid the virus outbreak.
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Share Market Highlights: Investors give thumbs up to Budget, Sensex ends 2,314 points higher; Nifty at 14,281
Sensex, Nifty Highlights on Budget day, February 1: Almost all the sectors closed in green territory today, rising in the range of 3-6%, except for pharma index
BusinessToday.In | February 1, 2021 | Updated 16:10 IST
India Stock Market News Highlights Today on union Budget 2021: IndusInd Bank, ICICI Bank, SBI, HDFC Bank were among the top gainers today while HCL Tech, Dr Reddy, Tech Mahindra were among top losers
Sensex, Nifty Highlights on Union Budget 2021:In a historical move, benchmark indices Sensex and Nifty closed 5% higher on Monday, as market participants reacted positively to the announcements by Finance Minister Nirmala Sitharaman in Union Budget 2021. BSE benchmark index S&P Sensex, ended 2,314 points higher at 48,600 and NSE Nifty 50 index gained 646 points to 14,281. This was once in a life time jump seen on Budget day, with Sensex and Nifty rising o
Except for pharma, realty and financial services, all other indices on NSE closed in green territory, with over 3% gain registered in PSU banking sector
Retail inflation sees remarkable decline in December, can RBI think of cutting rates further?
The Consumer Food Price Index (CFPI) or the inflation in the food basket eased to 3.41 percent in the month of December, down from 9.50 percent in November. January 13, 2021 / 09:21 AM IST
India s Consumer Price Index (CPI), which measures the country s retail inflation, eased to 4.59 percent in December versus 6.93 percent in November.
This month s CPI has fallen within the Reserve Bank of India’s (RBI) upper margin of 6.
The Consumer Food Price Index (CFPI) or the inflation in the food basket eased to 3.41 percent in the month of December, down from 9.50 percent in November, as per the data.
Official data released on Tuesday showed that the recovery in industrial output seen in October turned out to be an aberration as it contracted again in November by 1.9 per cent, belying hopes of a festive boost. This has prompted economists to call for the continuation of the stimulus package in the upcoming Budget.
Industrial output growth, as measured by the index of industrial production (IIP), was revised upwards to 4.19 per cent in October, compared with 3.6 per cent estimated initially. IIP was almost flat in September after having declined continuously since March. IIP grew 2.1 per cent in November 2019.
IIP declined by 15.5 per cent in the first eight months of financial year 2020-21 (FY21), compared with 0.3 per cent growth in the corresponding period of the previous year. This shows that output was already slowing last year, but the Covid-induced lockdowns dragged it to contraction this year.