Positive impact of budget, Sensex touches 50,000 mark, Indigo Paints’ bumper debut

Mumbai : The topline equity indices on the BSE and National Stock Exchange (NSE) extended their post-budget bull run on Tuesday, rising nearly 3 per cent in early trade led by sharp gains in banking and financial stocks.

The Sensex is trading at 50,004.06, up 1,403 points. Earlier, the index touched a record level of 50,184 on 21 January. Similarly, the Nifty index is trading up 406 points at 14,687.35. Auto and banking shares are at the forefront of the market boom. The Nifty Bank index is also trading at 34,598.90 with a gain of 1,509 points. This is the all-time of the index.

The Bombay Stock Exchange (BSE) is trading at 2,209. 1,662 stocks are trading with gains and 453 declines. The market cap of listed companies has also increased to Rs 196.50 lakh crore as against Rs 192.62 lakh crore yesterday. That is, the market cap of listed companies increased by more than Rs 4 lakh crore.

Due to the budget, a positive sentiment remains in the stock market. The second listing of 2021 was excellent. The stock of Indigo Paints is listed at Rs 2,607.50 on the BSE. Similarly, on the National Stock Exchange (NSE), the stock is listed at a premium of 75% at a price of Rs 2,607.50. Its issue price was Rs 1,490. That is, investors gained Rs 1,117 per share.

The market had recorded a historic increase on the day of Budget. The Sensex was up 5% at 48,600.61 and the Nifty closed at 14,281.20, up 4.74% due to the positive budget. It saw the highest increase in banking shares. IndusInd Bank shares closed up 14.71%, SBI 10% and L&T 9%. The Nifty Bank Index was also up 8.26%. The market cap of listed companies also increased by 6.32.

Strong growth in global market
Global markets are also trading with an edge. Korea’s KOSPI is trading up 2.23%. Hong Kong’s Hang Seng Index, Australia’s All Ordinaries Index and Japan’s Nikkei Index are trading up over 1-1%. Similarly, China also has a gain of 0.55% in Shanghai Composite Index. Earlier, the American and European markets were also growing. The Nasdaq index closed up 2.55%, the S&P 500 index up 1.61%. In the European market, France’s CAC index and Germany’s DAX index were also growing 1-1%.

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