NEW DELHI: The stock market is continuously cheering the big infrastructure projects, disinvestment and other investment-related initiatives announced by Union Finance Minister Nirmala Sitharaman in her Union Budget 2021 speech on Monday.
The BSE Sensex shot up around 902 and hit 47,188 levels while the NSE Nifty hit 13,866 logging 251 points intraday gain. Sensex surged nearly 443 pts to 46,728.83 in opening trade ahead of Union Budget presentation, while the Nifty traded at 114.85 points at 13,749.45.
Equity benchmark indices swung higher in volatile trade during early hours on Monday as Finance Minister Nirmala Sitharaman began her Union Budget speech in Parliament.
Around 10:15 AM, the BSE S&P Sensex was up by 484 points or 1.05 per cent at 46,770 while the Nifty 50 ticked up by 117 points or 0.86 per cent to 13,751. Most sectoral indices at the National Stock Exchange were in the green with Nifty financial service gaining by 1.3 per cent, private bank by 1.5 per cent and realty by 1.1 per cent.
But Nifty pharma dipped by 1.2 per cent, IT by 0.8 per cent and FMCG by 0.1 per cent. Among stocks, IndusInd Bank jumped by 7.6 per cent to Rs 910.95 per share while ICICI Bank moved up by 5.2 per cent and HDFC Bank by 2 per cent.
The other major gainers were housing finance major HDFC, Tata Steel, Maruti Suzuki, Sun Pharma besides energy majors like ONGC, IndianOil Corporation and Bharat Petroleum Corporation. However, those which lost were Dr Reddy`s, Cipla, UPL, Axis Bank, Adani Ports, SBI Life, Tech Mahindra and Tata Consultancy Services.
Meanwhile, Asian shares tried to rally as Wall Street continued to struggle with doubts about vaccine rollouts and economic recovery.MSCI`s broadest index of Asia Pacific shares outside Japan recouped early losses to rise by 0.7 per cent. Japan’s Nikkei added 0.8 per cent while Chinese blue chips gained by 0.5 per cent as the country’s central bank injected more cash into money markets.
