On Monday, the financial & banking stocks turned out to be the major market movers as Sensex climbed 2,314.84 points while Nifty rose by around 5 per cent.  

The stock of IndusInd Bank Limited surged nearly 15 per cent on Monday. Read onto know more about what the option data say about the stock.

On Monday, the domestic benchmark indices recorded the biggest ‘Budget Day’ gains ever in absolute terms. Sensex surged by 5 per cent or 2,314.84 points to close at 48,600.61 levels. Nifty jumped by 4.74 per cent or by 646.60 points to settle at 14,281.20 levels.  

On Monday, India’s largest integrated power utility, Tata Power announced that it has obtained a letter of intent (LoI) from Odisha Electricity Regulatory Commission (OERC). The LoI was basically for the distribution as well as the retail supply of electricity in five circles of North-Eastern Electricity Supply Company of Odisha (NESCO), which include areas of Balasore, Bhadrak, Baripada, Jajpur & Keonjhar. 

The target of fiscal deficit has been revised to 9.5 per cent of GDP in revised estimates for FY21 compared to the budgeted level of 3.5 per cent of GDP.  

The shares of metal companies gained as a result of positive announcements in the Budget 2021, which was aimed towards uplifting the domestic steel & metals industry.  

Finance Minister Nirmala Sitharaman announced a total expenditure estimate of Rs 93,224 crore for the education sector in 2021-22.

The government announced the addition of 100 cities to the city gas distribution network, which further boosted the stock of gas companies. The government informed that the pipelines of GAIL (India) Ltd, Indian Oil Corporation (IOC) and HPCL will be monetised. 

Amid the protests by farmers against the three contentious laws affecting Indian farmers, Union Finance Minister Nirmala Sitharaman announced the Budget for the Indian agricultural sector amidst the sloganeering by the opposition.  

Finance Minister announced a record funding of Rs 1.12 lakh crore outlay for railways, out of which, Rs 1.07 lakh crore is for capital expenditure, the highest-ever till now.