Investors grew richer by Rs 3L crore today

February 02, 2021 12:50

Investor wealth further grew over Rs 3 lakh crore in morning trade on Tuesday as market continued to remain euphoric a day after the Union Budget, which analysts termed as unprecedented against the backdrop of the pandemic-induced slowdown.

The BSE benchmark zoomed 1,553.87 points to 50,154.48 during the morning trade. Tracking the extremely positive investor sentiment, the market capitalisation of BSE-listed companies jumped Rs 3,04,169.3 crore to Rs 1,95,50,883 crore in morning trade.

"It has been a picture perfect rally in the last two sessions with the broader indices clocking record Budget Day gains and extending them today as well. Although some profit-booking can be expected, but we expect stock-specific action to continue," said Rahul Sharma, Head Technical & Derivatives Research, JM Financial Services. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61 on Monday.

Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22. This was the best Budget-day gain for the markets since 1997, analysts said.

The Union Budget FY22 did not allow a good crisis to go to waste, Anand Rathi said in a research note. Making up for the lack of a decisive fiscal stimulus in 2020, the Budget has simultaneously rolled out uncluttered measures to stimulate investment, especially in infrastructure, healthcare, financial and select manufacturing sectors, and signalled progressive withdrawal of government from commercial activities. -- PTI

« Back to LIVE

TOP STORIES

EVMs in India are 'black box', can't scrutinise, says Rahul, backs Musk's view

The former Congress president also tagged a post by Tesla CEO Elon Musk in which he talked about eliminating EVMs.

Sec 144 imposed in T'gana town after communal clash ahead of Bakrid; 13 held

The situation has been brought under control and remains peaceful, the police said on Sunday.

Budget: Nirmalaji sets the ball rolling; FM to hold meets

Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said. The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July. Industry...

Weghorst makes coach eat humble pie with late winner

Wout Weghorst earned praise for his winning goal in their European Championship opener against Poland o

Sincere Russia-Ukraine talks needed to end conflict: India at Swiss summit

It said a resolution to the conflict requires a "sincere and practical engagement" between the two parties, clearly referring to Russia and Ukraine.