Indian benchmark indices closed higher on Tuesday as markets extended their post-Budget gains. Investors cheered the government’s push for infrastructure and healthcare spending to revive the pandemic-hit economy.
The S&P BSE Sensex ended the day at 49,797.72 – up 1,197.11 points or 2.46%. The NSE Nifty 50 gained 366.65 points or 2.57% to close at 14,647.85.
State Bank of India, UltraTech Cement, HDFC Bank, Larsen and Toubro and Bharti Airtel were among the top gainers on the S&P BSE Sensex. Hindustan Unilever Limited, Titan and Bajaj Finserv were the stocks that lost on the index.
On NSE Nifty 50, Tata Motors, Shree Cement, State Bank of India, United Phosphorus and Grasim Industries were the top gainers. HDFC Life Insurance, Bajaj Finserv, Hero MotoCorp Hindustan Unilever Limited and SBI Life Insurance were among the top losers on the index.
The rupee gained 6 paise to settle at 72.96 against the dollar. On Monday, it has closed at 73.02 against the dollar.
Ajit Mishra, vice president (research), at Religare Broking told CNBC that all attention will now be fixed on the Reserve Bank of India’s Monetary Policy Outcome scheduled for February 5. “Meanwhile, as more corporates announce their results, stock-specific volatility would remain high,” he added. “Markets may see a breather after the recent surge but the bias would remain on the positive side. Participants should maintain their focus on identifying the right opportunities across sectors.”