new Delhi. About 24 years ago, the then Finance Minister of India P Chidambaram presented the budget, which was named the Dream Budget. On that day, there was a tremendous boom in the stock market. Experts even say that they did not see such a response to the market on the budget day, nor before that budget. Now history has repeated itself again. Even if Nirmala Sitharaman has not presented the dream budget, but ‘Dream Day’ has definitely proved to be the market. The Sensex saw a jump of 2300 points, and the Nifty 50 closed up 4.74 percent. According to Angel Broking Deputy Vice President Anuj Gupta, the stock market is the biggest boom in the history of the budget. The market has broken the 24-year record of the Dream Budget or rather.
Dream day off stock market
If the budget day is called Dream Day of the stock market, it will not be less. The Bombay Stock Exchange’s flagship index Sensex closed up 2314.84 points at 48,600.61 points. On the budget day, the stock market has never seen such a big boom. On the other hand, the National Stock Exchange’s major index Nifty 50 gained 646.60 points to close at 14,281.20 points. According to market expert Rajneesh Khosla, the dream budget figures are not available yet, but the market boom is more than that day. In the history of the budget, the stock market has never seen such a boom.
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Big boom in banking sector
First of all, in the sectoral index banking sector, the Bank Exchange closed with a gain of 2886.68 and Bank Nifty by 2523.60 points. Capital goods 1068.17 and consumer durables were up by 1017.38 points. BSE Auto 930.96 and BSE Metal closed up by 572.78 points. BSE FMCG 221.09, BSE Healthcare 54.47, BSE IT 295.61, Oil and Gas 303.64, BSE PSU 256.33 and Tech closed up by 184.79 points.
Bank shares rise
Today there is a big boom in bank shares. After getting a booster dose of Rs 20 thousand crore through Bad Bank, there was a good rise in the stocks of banks. IndusInd Bank closed with a gain of 14.71 per cent, while ICICI Bank saw a gain of 12.44 per cent. Bajaj Fineserve closed up 11.45 percent, State Bank of India 10.14 percent and L&T 8.55 percent. On the other hand, UPL closed down by 4.74 percent, Dr. Reddy Laboratories 3.79 percent, Cipla 2.36 percent, Tech Mahindra 2.04 percent and Hindustan Unilever 0.68 percent.
Also read: The stock market rose amid expectations from Budget 2021, Sensex gained over 350 points
Market investors gain 6.34 lakh crores
Investors also benefited greatly due to the tremendous response of the market. The benefit of market investors is linked to the market cav of BSE. After the market closed on Friday, the market cap was Rs 1,86,12,644.03 crore, which has increased to Rs 1,92,46,713.70 crore today. That is, the market investors today got a profit of 634069.67 crores.
How can the budget be ahead
Rajneesh Khosla says that the coming 48 hours are very important for the stock market. If the Nifty is not able to break the 14500 level, then the market may see a big fall again. He further said that the market today has seen a short recovery with the impact of the budget. After two days, the market situation will be clear as to which direction the Sensex and Nifty will move.
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