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Bulls take charge at Dalal Street: Sensex up over 2,300 pts on Budget day

The benchmark Sensex jumped 5 per cent, while the Bank Nifty zoomed 8.3 per cent

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Experts said the FM’s decision to go for asset monetisation, instead of an increase in taxation, helped soothe investors’ nerves | Photo: PTI

Sundar Sethuraman Thiruvananthapuram

4 min read Last Updated : Feb 01 2021 | 9:47 PM IST

Finance Minister Nirmala Sitharaman’s announcements to revive economic growth without increasing taxes were lauded by the Street.

The benchmark Sensex jumped 5 per cent, while the Bank Nifty zoomed 8.3 per cent. This was the best Budget-day performance for the markets since 1999, and the biggest single-day advance in nearly 10 months.

A rebound in global indices further lifted sentiment, which had earlier taken a beating resulting in the benchmark indices coming off more than 7 per cent from their record highs on January 20.

Foreign portfolio investors (FPIs) also cheered the Budget, ending their one-week selling spree. On Monday, they bought shares

Topics : Markets Sensex Nifty Dalal Street Budget 2021 stock market

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