Dalal St cheers infra boost
Sensex, Nifty rally over 1.35% on heavy buying in metal and capital goods stocks; Firm global cues further aid rally; Nifty reclaims 17,500-mark; Investors richer by Rs3 lakh cr
image for illustrative purpose
Mumbai: BSE Sensex soared 848 points, while NSE Nifty reclaimed the 17,500-mark on Tuesday after Finance Minister Nirmala Sitharaman unveiled a bigger Rs39.45 lakh crore Budget, with higher spending on infrastructure to spur economic recovery and create jobs. Metal, realty and cement stocks saw robust buying, while selling in auto and telecom counters capped the gains. After a strong start, the BSE Sensex succumbed to a sudden bout of selling following the Budget presentation, but staged an immediate rebound to end 848.40 points or 1.46 per cent higher at 58,862.57, marking its second straight session of gains. On similar lines, the broader NSE Nifty surged 237 points or 1.37 per cent to end at 17,576.85.
Equity investors became richer by more than Rs2.99 lakh crore on Tuesday as the Union Budget was well received by the stock market. It was merriment on the Dalal Street, as the market capitalisation (mcap) of BSE-listed companies jumped by Rs 2,99,354.61 crore to Rs 2,67,40,561.79 crore.
