Ahead of the Union Budget, Indian markets on Monday opened on a positive note with the BSE Sensex surging over 400 points. At 10.12 am, Sen...
Ahead of the Union Budget, Indian markets on Monday opened on a positive note with the BSE Sensex surging over 400 points. At 10.12 am, Sensex traded at 46,723.92 or 438.15 points higher than the previous closing. The broader 50-share NSE Nifty also made gains and reached 13,747.45 , or 112.85 points.
Top gainers on the BSE included IndusInd Bank, ICICI Bank, Titan, HDFC, Bajaj Finance and Bajaj Finserv, with their stocks rising as much as 3.63%. Of the Sensex constituents, 16 shares were trading in the green.
On the NSE, except for Nifty IT and Pharma, all sub-indices were trading in green, with Nifty Private Bank and Realty up as much as 1.50%.
This year’s Budget comes at a time when the coronavirus pandemic has severely impacted India’s growth this year, sending its already-teetering economy to brand-new lows. Market experts and economists are of the view that this budget will be critical in terms of picking up the pieces after the economic destruction caused by the pandemic.
Finance Minister Nirmala Sitharaman has raised expectations by claiming that the Budget will be “like never before”. But experts feel that the market could swing in either direction.
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