Updated: February 2, 2021 4:39:12 pm
The topline equity indices on the BSE and National Stock Exchange (NSE) extended their post-budget bull run on Tuesday and ended at record closing highs, rising around 2.5 per cent led by gains in automobiles, banking and financial stocks.
The S&P BSE Sensex surged 1197.11 points (2.46 per cent) to settle at 49,797.72. During the day, the 30-share benchmark had reclaimed the 50,000-mark in early trade hitting an intraday high of 50,154.48. Likewise, the Nifty 50 rose 366.65 points (2.57 per cent) to end at 14,647.85. During the day, the 50-share barometer touched a high of 14,731.70.
HDFC twins – comprising of HDFC Bank and Housing Development Finance Corporation (HDFC) were the leading contributors to Sensex during the day along with oil-to-telecom behemoth Reliance Industries (RIL) and ICICI Bank. See heatmap below
On Monday, the Sensex rallied 2,314.84 points (5.00 per cent) to settle at 48,600.61, while the Nifty had ended at 14,281.20, rising by 646.60 points (4.74 per cent) following Finance Minister Nirmala Sitharaman’s presentation of Union Budget 2021.
All the sectoral indices on NSE ended higher on Tuesday. The key Bank Nifty ended 3.56 per cent higher led by gains in State Bank of India (SBI), HDFC Bank and Bandhan Bank. The Nifty Financial Services index too rose 3.23 per cent led by shares of Piramal Enterprises and Mahindra & Mahindra Financial Services.
Apart from the financials, the Nifty Auto index was the top sectoral performer of the day, rising 4.01 per cent driven by Tata Motors, Ashok Leyland, TVS Motor Company and Bharat Forge.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap index ended at 19,051.11, up 420.80 points (2.26 per cent), while the S&P BSE SmallCap closed at 18,645.94, up 292.62 points (1.59 per cent). The volatility index or India VIX rose a tad up 0.09 per cent at 23.3450.
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.
Shares in BP lost 3.8 per cent after it plunged to a $5.7 billion loss last year, its first in a decade.
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.
–global market input from Reuters
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