Sensex soars 848 points as Budget seeks to support growth momentum
Feb 01, 2022
Mumbai [India], February 1 : The Indian equities markets key indices rose by nearly 1.5 per cent on Tuesday led by broad-based buying support as Finance Minister Nirmala Sitharaman proposed in the Union Budget 2022-23 to significantly boost investments in order to accelerate economic growth.
The benchmark Sensex surged 848.40 points or 1.46 per cent to close at 58,862.57 points against its previous day's close at 58,014.17 points. The Sensex witnessed touched a high of 59,032.20 points and low of 57,737.66 points in the intra-day.
This is the second consecutive day of the rally in the Indian stock markets ahead of the presentation of the budget. The Sensex had rallied 813.94 points or 1.42 per cent on Monday.
The broader Nifty 50 of the National Stock Exchange closed 237 points or 1.37 per cent higher at 17,576.85 points. The Nifty had gained 237.90 points or 1.39 per cent on Monday.
There was strong buying support in metal, pharma and IT stocks. Tata Steel surged 7.57 per cent to Rs 1167.65. Sun Pharma soared 6.94 per cent to Rs 892.05.
IndusInd Bank 5.76 per cent higher at Rs 922.05; L&T 4.31 per cent higher at Rs 1991.15; UltraTech Cement 4.13 per cent higher at Rs 7512.15; ITC 3.45 per cent higher at Rs 227.70; Titan 3.02 per cent higher at Rs 2432.10 and HCL Technologies 3.02 per cent higher at Rs 1132.60 were among the major Sensex gainers.
In the Union Budget 2022-23 the Finance Minister proposed to increase capital expenditure by 35.4 per cent to Rs 7.50 lakh crore in 2022-23 from Rs 5.54 lakh crore in the current year.
