Sensex rallies over 2,000 pts as FM presents Budget 2021

The 30-share Sensex was trading 2,064.52 points higher at 48,350.29; and the broader Nifty surged 559.65 points to cross 14k mark at 14,194.25.

Mumbai:The BSE benchmark Sensex rallied over 2,000 points led by gains in financial stocks in afternoon session on Monday as Finance Minister Nirmala Sitharaman presented the Union Budget 2021-2022 in Parliament.

The 30-share Sensex was trading 2,064.52 points higher at 48,350.29; and the broader Nifty surged 559.65 points to cross 14k mark at 14,194.25.

On the Sensex chart, IndusInd Bank was the top gainer, rallying over 10 per cent, followed by ICICI Bank, HDFC, Bajaj Finserv, M&M and SBI.

On the other hand, Dr Reddy's, Tech Mahindra, TCS and HCL Tech were among the laggards.

Finance Minister Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament today.

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 COVID-19 pandemic.

On Friday, the Sensex had closed 588.59 points or 1.26 per cent lower at 46,285.77, and the Nifty had settled 182.95 points or 1.32 per cent down at 13,634.60.

Over the previous six sessions, the Sensex has lost 3,506.35 points or 7.04 per cent, and the Nifty has shed 1,010.10 points or 6.89 per cent.

Foreign portfolio investors (FPIs) offloaded shares worth a net Rs 5,930.66 crore on Friday, according to exchange data.

Elsewhere in Asia on Monday, stock markets were in recovery mode in afternoon session, after four sessions of losses.

The global oil benchmark Brent crude futures rose 0.32 per cent to USD 55.38 per barrel.

(PTI)