Budget 2022 Sensex Market Highlights | Sensex Closes At 848 Points Higher, Nifty Above 17, 550 Points
Budget 2022 Sensex Stock Market Live: Bulls marched on Dalal Street as key equity benchmarks rallied on Monday after economic survey said Indian economy is well placed to take on challenges of 2022-23
Background
Budget 2022 Sensex Stock Market Live: Hello and welcome to the LIVE Blog which tracks the market ups and downs as the Union Budget 2022-23 is presented in the parliament by Finance Minister Nirmala Sithraman.
A day ahead of the Union Budget, bulls marched on Dalal Street as the key equity benchmarks rallied on Monday after the economic survey said that the Indian economy is well placed to take on the challenges of 2022-23.
For investors, the Union Budget will be the key issue on Tuesday.
A day before the Budget on Monday, the BSE Sensex rose around 1,000 during intraday trade on short covering.
The 30-share Sensex platform surged 814 points to settle at 58,014, while the broader NSE Nifty moved 238 points to close at 17,340, on Monday.
In the broader markets, the BSE Midcap and Smallcap indices advanced 1.7 percent and 0.9 percent, respectively.
All sector gauges, compiled by the NSE, settled in green. Nifty PSU Bank and Nifty IT outperformed the index by rising as much as 2.94 percent and 2.87 percent, respectively.
IT stocks such as Tech Mahindra (up 5 percent), Wipro, Infosys, and HCL Tech; financials stocks such as Bajaj twins, SBI, and index heavyweights Reliance Industries and Bharti Airtel are the prominent gainers.
On the flip side, shares of IndusInd Bank were the worst hit among the lot, down 3.5 percent, on profit booking after Q3 results. Kotak Bank, HUL, and Tata Steel were the other losers on the Sensex.
Finance Minister Nirmala Sitharaman will present the Union Budget in the Lok Sabha today at 11 am.
The ministry has said that Finance Minister Nirmala Sitharaman will present the Union Budget 2022-23 on February 1 in a paperless form. The ministry also said that the Budget will be available on Mobile App after it is presented in Parliament.
On Monday, the finance minister tabled the Economic Survey that details the state of the economy in Parliament. The survey projected a growth rate of 8 - 8.5 percent in 2022-23.
Budget 2022 Sensex Market Highlights | Sensex Closes At 848 Points Higher, Nifty Above 17, 550 Points
The markets closed on the Union Budget day on a positive note. The BSE Sensex closed 848 points high at 58,862.57 points. The NSE Nifty also closed on the higher side at 17,576.85, up by 237 points .
The Sensex had opened today at 58,597.02 points, up by 582.85 points. The Nifty had also opened up 156.20 points high at 17,496.05 points.
Budget 2022 Sensex Market Highlights | BSE Rises 849.33 Points Towards Closing. NSE Up By 244.95 Points
The market neared the closure on a positive note on the day when Union Budget 2022-23 was presented by Finance Minister Nirmala Sitharaman in the Parliament. The BSE Sensex rose by 849.33 points and was at 58,863.50 points. The National Stock Exchange also upticked by 244.95 points and rallied at 17,584.80 points.
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