Mumbai: That the market’s response to the Union Budget for 2021-22 on Monday was not a one-off or knee-jerk reaction was proved on Tuesday again when the Indian markets extended their historic Budget day rally into the second day, ending nearly 2.5 percent higher with financials and realty counters topping the charts on Dalal Street.
Global cues also spurred investors’ confidence.
The S&P BSE Sensex climbed 1,197 points, or 2.46 percent, to settle the day at 49,797.7 levels. The index reclaimed the 50,000 level in intra-day deals and hit a high of 50,154 before paring some of the gains.
The broader Nifty50 index also closed at 14,648 levels, up 367 points or 2.57 percent.
Majors like UltraTech Cement, SBI, HDFC Bank, and L&T stocks surged between 5 and 7 percent on the BSE, becoming the top gainers on the Sensex index.
Among others, Shree Cement, Tata Motors, and Hindalco were up between 6 and 15 percent, becoming the other top gainers on Nifty50.
The FY22 Budget echoes were also visible in the broader markets. The S&P BSE MidCap and SmallCap indices ended 2.26 percent and 1.56 percent higher, respectively.
The Nifty sectoral indices were painted green, with Nifty Financial Services and Nifty indexes, up 3 percent each, leading the gainers. Meanwhile, the Nifty Bank index surged over 1,500 points in intra-day deals to hit a fresh lifetime high.
Global stock markets also gained for a second day on Tuesday, spurred by increased optimism about economic stimulus and global recovery, while retail investors found a new interest in silver.
(VP)
