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Rohit Singre, Senior Technical Analyst at LKP Securities said, "Nifty has formed immediate support near 14,640-14,580 zone and good resistance is coming near 14,810 zone. Any break above said levels can push index towards 15,000-mark again."
Investors wealth tops Rs 200 lakh crore as Sensex rallies to fresh high
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The positivity induced by the government s capex plan is fuelling the latest leg of the rally.
A massive foreign fund flow and improved economic data from across the world have boosted morale.
NEW DELHI: Better-than-expected corporate earnings from some of the biggest industry players led to buying in banking and FMCG stocks on Thursday, pushing benchmark indices higher for the fourth day in a row.
The positivity induced by the government s capex plan is fuelling the latest leg of the rally. A massive foreign fund flow and improved economic data from across the world have also boosted morale.
Sectoral winners and losers of Union Budget 2021
Experts point out that health and infrastructure are the keys to economic growth and the government s emphasis on them will drive growth, increase employment and boost overall consumption. February 02, 2021 / 02:44 PM IST
The Union Budget 2021 pleased the market as the equity barometer the Sensex and the Nifty rose about 5 percent on the Budget day.
The absence of negative surprises cheered the market. There was no wealth or super-rich tax, direct tax tweak, long-term capital gains tax, securities transaction tax, or a COVID tax in the Union Budget 2021.
Moreover, the Budget was seen as a long-term positive for the economy.