Good or bad Budget? 5 things that matter most for Dalal Street
SECTIONS
Share
Synopsis
Here are five things that would rank high on investors’ minds as we head into the Budget.
Getty Images
Dalal Street has its own set of expectations. Investors want no tinkering of taxes levied on equity and equity mutual funds and are looking to a fiscal deficit target in the 5-6 per cent range.
NEW DELHI: Finance Minister Nirmala Sitharaman has promised a ‘once-in-a-century’ Budget for FY22 and hopes are running high that the government would support the fragile economic recovery with various sectoral sops and tax reliefs that can set the stage for India to log strong double-digit growth in FY22, albeit on a low base, and beyond.
No new tax for the rich, FPIs lead to 2,300-point Sensex salute for Budget
daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.
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.
Sensex, Nifty clock strongest Budget day rally after FM s speech cheers investors
The 2021 Union Budget announcements that cheered investors today included hike in foreign direct investment (FDI) limit in insurance from 49% to 74%, scrappage policy for vehicles, privatisation of two nationalised banks and proposal of monetisation of assets
Rupa Burman Roy | February 9, 2021 | Updated 10:30 IST
Nifty Bank hit at an all-time high today
The 30-share Sensex took a big leap on the Budget Day and jumped over 2,000 points to end 5% higher, recording the strongest rally in the past 20 years.
The index recorded its biggest Budget Day gain ever since 1997, as the first digital Budget in the history of India ticked all the right boxes for the equity market, with heavy buying seen in PSU banks, banking, infra and metal stocks. Sensex had gained over 6% since Budget day in 1997.
ICICI Bank Q3 preview: ICICI Bank’s net profit during the December quarter of FY21 (Q3FY21) could take a hit, fear analysts, who are factoring-in up to 14 per cent year on year (YoY) decline in PAT. The lender is scheduled to report its earnings report card for the recently concluded quarter on Saturday, January 30. Forecasting a growth of single digit (9 per cent each) in net interest income (NII) and operating profit, analysts at Centrum Broking peg the bank’s net profit at Rs 3,576.7 crore, down 14 per cent on year. PAT stood at Rs 4,146.5 crore in the previous year quarter (Q3FY20), and at Rs 4,251.3 crore in the September quarter of the current fiscal (Q2FY21).
vimarsana © 2020. All Rights Reserved.