Union Budget 2021: Sensex surges over 900 points as Sitharaman presents Budget

WION Web Team
New Delhi Published: Feb 01, 2021, 09.21 AM(IST)

File photo. Photograph:( Reuters )

Story highlights

The markets had closed down on Friday amid decline in pharmaceutical and information technology stocks.

The BSE Sensex shot up 900 points on Monday as India's finance minister Nirmala Sitharaman presented the Union Budget. India's BSE Sensex had surged over 400 points in early trade.

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The Nifty up 114.85 points at 13,749.45 in early trade ahead of the Budget on Monday.

The markets had closed down on Friday amid decline in pharmaceutical and information technology stocks.

The Sensex had closed 1.26 per cent down to end at 46,285.77 on Friday with the NSE Nifty 50 index falling 1.32 per cent to end at 13,634.6 which was the sixth session of losses ahead of the Budget.

IT stocks Infosys and Tata Consultancy Services had dropped  2.9 per cent and 2.7 per cent respectively with the Pharma index falling 1.8 per cent.

HDFC Bank was the biggest gainer on Friday even as Dr Reddy's stocks fell  6.6 per cent.

India had entered a "technical" recession for the first time since independence in 1947 after contracting for the second successive quarter between July and September amid the coronavirus pandemic.

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