A Day After Budget, Sensex, Nifty End Near Record High

On Monday, Sensex and Nifty had their best Budget-day rally since 1997.

Updated
Business
1 min read
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A day after Finance Minister Nirmala Sitharaman presented the Union Budget 2021, Indian equities on Tuesday, 2 February, closed near their respective all-time highs.

According to BloombergQuint (BQ), the S&P BSE Sensex ended 2.5 percent higher at 49,797. The index briefly traded above the mark of 50,000, coming within 30 points of its all-time high of 50,184. The NSE Nifty 50 index also came within 20 points of its record high of 14,754, ending 2.6 percent higher at 14,647.

1,242 stocks on the NSE ended with gains while 681 stocks ended lower, BQ reported.

Markets Open Higher Post Budget

At the opening, Sensex soared nearly 1,400 points to breach the 50,000-mark in early trading while Nifty climbed almost 400 points to 14,705, a day after Finance Minister Nirmala Sitharaman presented the Union Budget.

This is the second consecutive day that the markets opened higher. On Monday, Sensex and Nifty had their best Budget-day rally since 1997.

The rupee opened on a flat note, rising 1 paisa to 73.01 against the US dollar in early trade, PTI reported.

In her speech at the Parliament, Sitharaman said this year’s Budget was based on six pillars, with the health budget witnessing a massive jump of nearly 137 percent at Rs 2,23,846 crore.

A sharp increase in capital expenditure for the next fiscal at Rs 5.54 lakh crore has been proposed.

Meanwhile, the fiscal deficit for the FY21 has been pegged at 9.5 percent of the GDP and it has been estimated at 6.8 percent for FY22, the finance minister said.

(With inputs from BloombergQuint and PTI.)

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