After the announcement of the budget (Budget 2021), the stock markets got fiercely visible. Investors welcomed the provision of more spending on infrastructure and healthcare sector in the budget.
new Delhi. Finance Minister Nirmala Sitharaman presented the 2021-22 General Budget (Budget 2021) in the Lok Sabha on Monday. During this time, he made many big announcements. After the announcement of the budget, there was a fierce appearance in the stock markets. For the first time after the year 1999, the stock market saw a 5 percent jump on the budget day.
Cessanx closed at the level of 48,600.61
The BSE index closed up five percent. Cessanx closed at the level of 48,600.61 with a gain of nearly 2,300 points or 5 per cent. At the same time, the Nifty also closed at 14,281.20 with a strength of 646.60 points i.e. 4.74 percent. There was a purchase in all the BSE sector indices.
Sensex jumped 5.13 percent in 1999
After 1999, this has been the best reaction by the stock market on the budget. Earlier in 1999, the Sensex had risen 5.13 percent. Whereas two before that on the budget day in 1997, the BSE index jumped 6.5 percent. During the trading, the Sensex at one time reached the day’s high of 48,764.40 points. In the end, it closed at 48,600.61 points with an increase of 2,314.84 points or five percent. Similarly, the NSE Nifty also closed 646.60 points, or 4.74 percent higher at 14,281.20 points.
IndusInd Bank is the biggest beneficiary
Among the Sensex companies, IndusInd Bank was the biggest gainer by more than 14 per cent. On the other hand, ICICI Bank, Bajaj Finserv, SBI, L&T and HDFC stocks rose. In contrast, shares of Dr. Reddy’s, Tech Mahindra and Hindustan Unilever were in decline. Traders said that the Indian market opened up on the basis of the rise in global markets. Investors welcomed the provision of more spending on infrastructure and healthcare sector in the budget.
