‘Budget Euphoria’: Sensex Gains Over 1,400 Points To Reclaim Landmark 50,000 MarkSensex

Financial markets continued to surge on Tuesday (2 February) morning with the BSE Sensex gaining over 1,400 points to reclaim the landmark 50,000-mark.

Investors continued to cheer the fact that the budget did not announce any additional burden in terms of taxes or cess on citizens and corporates.

Healthy buying was witnessed in banking, finance and auto stocks.

Banking stocks surged after the Finance Minister announced that two public sector banks will be privatised apart from the IDBI Bank in the upcoming financial year.

Around 9.35 a.m., Sensex was trading at 50,004.06, higher by 1,403.45 points or 2.89 per cent from its previous close of 48,600.61.

It opened at 49,193.26 and has touched an intra-day high of 50,021.59 and a low of 49,193.26 points

The Nifty50 on the National Stock Exchange was trading at 14,687.35, higher by 406.15 points or 2.84 per cent from its previous close.

This news has been published via a Syndicated feed. Only the headline is changed.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement