Budget 2021 Share Market: Markets on a high after budget presentation
Synopsis
Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading nearly 1% higher on Monday.
As Finance Minister Nirmala Sitharaman started presentating Union Budget 2021 on February 1, domestic equity market benchmarks BSE Sensex and Nifty 50 were trading strong on Monday.
Sensex jumped over 1,600 points after Nirmala Sitharaman's speech, Nifty reclaimed 14,100.
IndusInd Bank was the top Sensex performer, up 5.64%, followed by ICICI Bank, Titan Company, Housing Development Corporation (HDFC), Infosys, among others. Out of 30 stocks, 7 scrips were trading in the red. Dr Reddy’s Laboratories, Tech Mahindra, HCL Tech, Tata Consultancy Services (TCS), were among top Sensex laggards. Except Nifty IT and Nifty Pharma indices, all the sectoral indices were trading in the positive territory. Nifty Private Bank index jumped nearly 2%.
Union Finance Minister Nirmala Sitharaman will unveil plans to boost the economy battered by Covid-19 pandemic.
Ahead of the presentation of the Budget, the Economic Survey 2021 was tabled in Parliament on January 29.
Sitharaman will deliver her promised budget like no other that is expected to provide relief to the pandemic-hit common man as well as focus more on driving the economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours.
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