Sensex soars nearly 1,200 points, Nifty near 14,650 extending Budget day rally 

WION Web Team
NEW DELHI Published: Feb 02, 2021, 05.18 PM(IST)

File photo. Photograph:( Reuters )

Story highlights

Most analysts are of the view that the equity markets reacted positively to the Budget primarily due to higher capital expenditure plans, status quo on direct taxes and no incremental taxes on capital gains. 
  

Domestic stock markets extended gains to end over 2 per cent higher on Tuesday, as investors continue to cheer Budget announcements amid positive global cues among.  
  
BSE Sensex zoomed 1,197 points, or 2.46 per cent, to settle the day at 49,797.7 levels. The index reclaimed the 50,000 level in intra-day deals and hit a high of 50,154 before paring some of the gains. The broader Nifty50 index, meanwhile, topped the 14,600-mark and closed at 14,648 levels, up 367 points or 2.57 per cent. 
  
Most analysts are of the view that the equity markets reacted positively to the Budget primarily due to higher capital expenditure plans, status quo on direct taxes and no incremental taxes on capital gains. 
  
Global cues 
  
Global stock markets gained for a second day on Tuesday, spurred by increased optimism about economic stimulus and global recovery, while retail investors retreated from GameStop and their new-found interest in silver. 
  
Positive momentum from Asia carried through to Europe, with the pan-European STOXX 600 edging up 0.9 per cent. 
  
MSCI's world equity index, which tracks shares in 49 countries, was 0.4 per cent firmer after posting its strongest day in three months on Monday. 
  
MSCI's gauge of Asia Pacific stocks outside Japan rose 1.5 per cent, with China's benchmark CSI300 Index climbing 1.5 per cent, helped by easing concerns about tight liquidity and falling cases of new coronavirus infections. Japan’s Nikkei 225 added 1 per cent. 
  
E-mini futures for the S&P 500 index added 0.8 per cent. 
  
(With inputs from Reuters) 

Read in App