Budget-rally extends on D-St; Sensex surges 1,197 pts; SBI up 6%, TaMo 17%

The Sensex index reclaimed the 50,000 level in intra-day deals and hit a high of 50,154

5:16 AM

Top gainers on the BSE at this hour

Company	PRICE(rs)	CHG(%)
KNR Construct.	447.75	10.17
IIFL Finance	193.85	9.99
Finolex Inds.	650.35	9.72
Tata Motors	302.45	8.11
PNC Infratech	212.00	8.08

5:11 AM

Budget 2021 :: Investors have little to complain

The biggest positive surprise for the markets has been no attempt to raise taxes by the government. Markets were expecting at the minimum some type of surcharge on the more affluent.

 

While a big positive, the flip side of no tax has been no increase in total expenditure (less than 1 per cent) by the government, despite budgeting nominal gross domestic product (GDP) growth of 14.4 per cent for FY22. READ MORE

5:02 AM

Indigo Paints makes solid debut, lists at 75% premium over issue price

Shares of Indigo Paints made a solid debut on the bourses on Tuesday, listing at Rs 2,607.50, a 75 per cent premium against issue price of Rs 1,490 on the National Stock Exchange (NSE) and BSE. The stock surged to Rs 2,756, up 85 per cent against issue price on the BSE, while on the NSE, it touched a high of Rs 2,747, exchange data shows. READ MORE

4:59 AM

MARKET UPDATE:: Sensex off day's high, but still up 1,000 points

4:52 AM

PSU divestment, LIC IPO, fiscal deficit: How brokerages read Budget 2021

Nomura

 

The government’s decision to accelerate spending, a volte-face from its earlier strategy, reflects its view of higher multiplier effects during the unlock phase and higher growth as a pre-condition for debt sustainability. Revised targets suggest government spending will be frontloaded and rise by 55-60 per cent y-o-y in the final quarter of FY21 (January - March 2021). At the margin, we believe rating agencies may view the budget as slightly more negative, given their focus on medium-term fiscal finances. Of the two rating agencies with a negative outlook for India, we believe the budget may have increased the probability of a downgrade from Fitch. READ MORE

4:44 AM

FMCG stocks underperform in a strong market

4:42 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)
Vodafone Idea	11.71	0.00
Tata Motors	298.25	6.61
Suzlon Energy	6.94	4.99
B H E L	39.30	2.88
Punjab Natl.Bank	36.60	2.52

4:32 AM

NEW LISTING :: Indigo Paint lists at 75% premium against issue price

4:29 AM

SENSEX RECLAIMS 50,000-MARK

4:28 AM

BSE Capital Goods index hits all-time high; L&T surges 15% in 2 days

Larsen & Toubro (L&T), Havells India, Bharat Heavy Electricals (BHEL), Kalpataru Power Transmission, Thermax, Finolex Cables, ABB and Siemens from the capital goods index were up in the range of 3 per cent to 8 per cent. READ MORE

4:23 AM

Bandhan Bank leaps 5%

4:15 AM

BUZZING :: L&T surges 7%

4:12 AM

MARKET WATCH :: Nifty index around 100 pts away from record high

>> S&P BSE Sensex trades at 49,905.09, up 1304.48 points or 2.68%

>> Nifty50 quotes at 14,646 level, up 365 points or 2.55%

>> Nifty MidCap 50 gains 3% to 6,464

>> Nifty SmallCap50 gains 1.5% to 3,789

4:06 AM

PSU Banks extend rally; index jumps 4%

4:05 AM

INDIA VIX ALERT

>> Index cools off 1% to 23 levels