Best Budget-day reaction by the stock market in 22 years as Sensex gains 5%
It was the highest Budget day gain reported by the Sensex in last 22 years as it rose 5 percent, while Nifty rose 4.7 percent. February 01, 2021 / 09:22 PM IST
As Finance Minister Nirmala Sitharaman announced a Budget that is being seen as growth-oriented and balanced, Dalal Street gave a thumbs up. The Sensex rallied 2,300 points, or 5 percent, to 48,600.61 and Nifty gained 646.60 points, or 4.74 percent, at 14,281.20 in today s session.
This has been the best performance by the stock market on a Budget Day since 1999.
“Equity market was most thrilled with the absence of some nightmares like the introduction of wealth tax or raising LTCG tax, especially given that this was a challenging year on the revenue front for the government. The FM’s apt deviation from the path of fiscal consolidation to support growth has been well-taken, said Amar Ambani, Senior President and Head of Research –
URL copied Image Source : PTI
Investors richer by over Rs 6.34 lakh crore as markets give big shout-out to Budget 2021
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as unprecedented against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61.
Â
During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
Why Sensex surged over 2,300 points on Budget day? Explained in 10 points
Sensex surged over 2,000 points
3 min read
Share Via
Read Full Story
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.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as unprecedented against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore. Finance Minister Nirmala Sitharaman on Monday proposed more than doubling of healthcare spending while imposing a new agri cess on certain imported goods and raising customs duty on items ranging from cotton to electronics in a bid to pull the economy out of the trough.
우지한 떠난 비트메인·우지한의 비트디어, 모두 성공할까? joins.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from joins.com Daily Mail and Mail on Sunday newspapers.