The domestic equity indices ended near the day s high on Thursday led by gains in banks and auto stocks. As per the provisional closing data, the barometer index, the S&P BSE Sensex, jumped 520.68 points or 1.05% at 50,029.55. The Nifty 50 index advanced 176.65 points or 1.2% at 14,867.05.
The buying was supported by positive global cues, backed by strong factory activity data in euro zone and Asia last month, and the optimism around the U. S. government s $2 trillion spending plan.
US President Joe Biden unveiled a massive infrastructure package on Wednesday, which includes roughly $2 trillion in spending over eight years. The government will raise the corporate tax rate to 28%, combined with measures designed to stop offshoring of profits, to fund the infrastructure plan within 15 years.
The Delhi government s 2021-22 budget aims at economic recovery post COVID-19 pandemic and strives to raise per capita income of the national capital to the level of Singapore by 2047. The proposed budget estimates at Rs 69,000 crore is the highest so far in Delhi, despite the effect of COVID-19 pandemic on the government s resources. Presenting the budget in the Delhi Assembly on Tuesday, Deputy Chief Minister Manish Sisodia said it is 6.15 per cent higher than the Rs 65,000 crore budget in 2020-21. The government highlighted that Rs 37,800 crore or 55 per cent of the budget estimates will be redirected towards subsidy schemes, social security and other pro-people programmes.
Read more about Sensex tumbles over 550 pts; Asian shares mixed on Business Standard. The benchmark indices further extended losses and hit fresh intraday low in mid-morning trade. The Nifty was trading below the 14,850 mark. Rising treasury yields and the possibility of another lockdown in Maharashtra weighed on the investors
Read more about Sensex, Nifty hit day s low; breadth negative on Business Standard. After a weak start, the key equity indices declined further and hit the day s low in morning trade. Autos, IT and PSU banks were under pressure. The Nifty slipped below the 14,900 mark. Rising treasury yields and the possibility of another lockdown
Read more about Benchmarks hover near record high levels on Business Standard. Key equity barometers hit fresh record high levels in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, soared 561.58 points or 1.09% at 51,105.88. The Nifty 50 index added 142.70 points or 0.94% at 15,306.