Rally continues on bourses
Mumbai, February 2
The BSE Sensex surged nearly 700 points to recapture the 59,000-level on Wednesday as the post-Budget rally continued for the second session with intense buying in banking and financial stocks amid supportive global cues.
The Union Budget 2022-23, with higher allocation to infrastructure, is likely to provide a boost to the ongoing economic recovery through a sharp increase in capex spending, which has been welcomed by the market, traders said.
The 30-share BSE benchmark climbed 695.76 points to finish at 59,558.33 — its third straight session of gains. Likewise, the broader NSE Nifty jumped 203.15 points to end at 17,780.00.
IndusInd Bank was the top gainer in the Sensex pack, spurting 5.57%, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank.
HDFC rose 1.87% after the country’s largest mortgage lender reported a nearly 13% increase in its consolidated net profit at Rs 5,837 crore for the December quarter.
On the other hand, Tech Mahindra, Nestle India, UltraTech Cement, Maruti, L&T and Sun Pharma were among the laggards. — PTI
- SENSEX SURGES 695.76 POINTS
- RECLAIMS 59,000-LEVEL
- CLOSES AT 59,558.33
- NSE Nifty jumped 203.15 points to close at 17,780 points
- IndusInd Bank was the top gainer, followed by Bajaj Finserv, HCL & Bajaj Finance
