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Highlights
The 30-share BSE Sensex zoomed 2,314.84 points or 5 per cent to finish at 48,600.61.
The broader NSE Nifty soared 646.60 points or 4.74 per cent to finish at 14,281.20.
Only three index components closed in the red Dr Reddy s, Tech Mahindra and HUL, shedding up to 3.70 per cent.
Markets roared back to life on Monday after six days of deep declines as Finance Minister Nirmala Sitharaman presented an expansionary Union Budget for 2021-22 which sought to pull the economy out of the pandemic-induced slump through increased spending on infrastructure, healthcare and farm sectors without resorting to higher taxation.
The 30-share BSE Sensex zoomed 2,314.84 points or 5 per cent to finish at 48,600.61. This was its second-biggest single day jump in absolute terms and the best day in almost 10 months.
Updated Feb 01, 2021 | 15:58 IST
Banking stocks led the rally in markets with Nifty Bank, the banking sub-index of NSE rising 8.26%. IndusInd Bank surged 14.71%, ICICI Bank rallied 12.44%. Sensex today
New Delhi: Bulls made a strong comeback on Monday after a six-day sell-off in the markets as Finance Minister Nirmala Sitharaman targets growth in her third Budget. The BSE Sensex surged 5% or 2,314.84 points to close at 48,600.61 while the Nifty 50 index jumped 4.74% or 646.60 points to settle at 14,281.20. FM Sitharaman announced a slew of measures to revive growth in the economy hit by the Covid pandemic. Bond yields rose to a four-month high after the FM proposed a wider-than-expected fiscal deficit for FY21 and FY22.
Most global markets were closed for the New Year holiday, but there was an overall widespread positive sentiment on the back of the fresh US stimulus, the Brexit deal, and expectations that the vaccine roll-out will bring better days
Budget, Covid-19 vaccine: 5 factors which will drive investor sentiments in 2021 livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
Vaccine, COVID situation, geopolitical trends, Budget to be major drivers for Indian equities in 2021: Analysts
What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures.
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NEW DELHI: The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both the worst of times and the best of times for the stock market, said analysts.
What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures.