Budget 2021: Sensex closes 2,314 points higher; Nifty at 14,281 as Market ends on a high
Domestic equity market benchmarks BSE Sensex and Nifty 50 ended 5% higher on Monday in post Budget rally.
In a historical move, benchmark indices Sensex and Nifty closed 5% higher on Monday, as market participants reacted positively to the announcements by Finance Minister Nirmala Sitharaman in Union Budget 2021.
Sensex surged 2,315 points or 5% to 48,600.61, while Nifty 50 ended at 14,281, up 646 points or 4.74%.
BSE benchmark index S&P Sensex, ended 2,314 points higher at 48,600 and NSE Nifty 50 index gained 646 points to 14,281.
Almost all the sectors were trading in green territory today, rising in the range of 3-6%. Gains in banking, real estate and financial stocks, were capped by losses in IT and pharma stocks.
Top Sensex gainers were IndusInd Bank, ICICI Bank, Bajaj Finserv, State Bank of India (SBI), Larsen & Toubro, Housing Development Finance Corporation (HDFC), among others. On the flip side, Dr Reddy’s, Tech Mahindra and Hindustan Unilever Ltd (HUL) were the only Sensex laggards today.
Barring Nifty Pharma, all the Nifty sectoral indices ended in the green led by Nifty Bank index, up 8.26%, which hit record high intraday. In the broader market, BSE Midcap and Smallcap indices rose 2-3%.
This was once in a life time jump seen on Budget day, with Sensex and Nifty rising over 5% each.
On last year's budget announcement, Sensex had crashed 2.43% and closed right below 40K, as investors lost around Rs 3.6 lakh crore of wealth on BSE.