Sensex & Nifty record sharp gains; IndusInd Bank jumps 15 per cent, Ashok Leyland zooms more than 10 per cent

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.  

Finance Minister Nirmala Sitharaman stayed true to her words and indeed presented, ‘Budget like never before’! Budget 2021 is a concise budget directly indicated towards improving the economy and benefitting the overall economic growth rather than putting core focus on individuals.   

BSE added a market capitalisation of around Rs 6.62 lakh crore thus, taking its total market capitalisation to a record of Rs 193 lakh crore.  

During today’s trading session, financial & banking stocks were the biggest market movers. Nifty Bank gained by around 8.26 per cent, which is its biggest-ever one-day gain. Besides, the shares of ITC gained by 6.25 per cent on no mention of cigarette cess hike. 

Overall, stocks such as banking, financial, cement, healthcare, metal, insurance, etc. were in limelight, attracting investors post Budget announcements while IT & tech stocks remained sideways.  

In the global markets, Asian indices such as Shanghai index, Hang Seng, Nikkei, and KOSPI rose by 0.64 per cent, 2.15 per cent, 1.55 per cent and 2.70 per cent, respectively. In the European markets, indices such as FTSE 100, DAX and CAC 40 were trading in the green, up by 0.83 per cent, 1.23 per cent and 1.01 per cent, respectively.   

Sensex gainers included IndusInd Bank that jumped 14.75 per cent, ICICI Bank surged 12.47 per cent, Bajaj Finserv inched higher by 11.23 per cent, SBI Bank zoomed 10.30 per cent, Larsen & Toubro strengthened by 8.61 per cent, HDFC gained 8.61 per cent while UltraTech Cement went up by 7.83 per cent, etc.  

Sensex losers consisted of Dr Reddy’s Laboratories that plunged 3.70 per cent, Tech Mahindra fell by 1.58 per cent and HUL decreased by 0.37 per cent.  

Amongst sectoral indices on BSE, the Bankex was the biggest gainer, up by 8.33 per cent, followed by the Finance index and Realty index that increased by 7.49 per cent and 6.65 per cent, respectively. BSE Healthcare index rose by 0.26 per cent while BSE IT index was up by 1.19 per cent and BSE Metal index gained 5.19 per cent. BSE Auto index jumped 4.21 per cent on the news of ‘Voluntary Vehicle Scrappage’ policy.   

In the broader markets, BSE Mid-Cap index gained by 3.03 per cent while BSE Small-Cap index rose by 2.03 per cent.