Budget 2021: Sensex skyrockets 2,315 points as market cheers; bank stocks sparkle
All key market indices witnessed a sharp rise as investors welcomed the big infrastructure and healthcare boost provided in Budget 2021.
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The BSE benchmark Sensex skyrocketed 2,315 points on Monday, propelled by gains in financial stocks, as market participants cheered a growth-oriented Union Budget presented by
Finance Minister Nirmala Sitharaman.
After touching an intra-day high of 48,764.40, the 30-share Sensex ended 2,314.84 points, or 5 percent higher, at 48,600.61.
The broader Nifty soared 646.60 points or 4.74 percent to finish at 14,281.20.
On the Sensex chart, IndusInd Bank was the top gainer, rallying over 14 percent, followed by ICICI Bank, Bajaj Finserv, SBI, L&T, and HDFC.
Gains were checked by selling by foreign investors who have supported the massive rally for the last 10 months. But rising dollar and US treasury yield has resulted in flight of capital.
Sensex closes 588 points lower before Budget 2021: Five factors that led to correction
SBI, HDFC, Asian Paints and M&M were among the top losers while IndusInd Bank, M&M, Bajaj Finance and RIL traded as the top gainers today
Rupa Burman Roy | January 29, 2021 | Updated 19:01 IST
During the week, Sensex and Nifty fell by 2,592 points or 5.30% and by 737 points or 5.13%, respectively
In a volatile trading session, equity benchmark indices closed 1% lower on Friday ahead of Budget 2021, scheduled next week. Extending fall for the sixth trading session, Sensex ended 588 points lower at 46,285 and Nifty fell 182 points to 13,634. Yesterday, Sensex ended 937 points lower at 47,409 and Nifty fell 271 points to 13,967.
Sensex loses 3,500 points in 6 days. Analysts turn wary of a quick rebound
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, August 24, 2015. REUTERS/Danish Siddiqui/Files
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Indian stock markets extended their losing streak to sixth straight day, with the BSE Sensex and Nifty falling over 1% today. The Sensex ended 588 points lower at 46,285 while the Nifty skidded 1.3% to 13,634. Both benchmark indices fluctuated between gains and losses in a highly volatile session before succumbing to strong selling pressure in late trade. In six days, Sensex has lost over 3,500 points.
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