The Indian benchmark indices have continued their rallying trend as both BSE Sensex, and NSE Nifty 50 closed Tuesday nearly 2.5% higher. The bullish market trend is attributed to the amendments made in the Union Budget 2021-21 on Monday. The positive market sentiment resulted in the NSE Nifty Bank and NSE Nifty Services recording their 52-week high on Tuesday.
The S&P BSE Sensex closed the day at 49,797.72 points. It managed to add 1,197.11 points or 2.46% to its tally over the day. The trend seen in the market was such that 27 of the 30 stocks constituting the index closed in the green, while the remaining three stocks tanked.
The GBI gains were led by SBI, the largest lender in the country, as its share price went up by a massive 7.1% over the day. UltraTech Cement and HDFC Bank followed it; their share price increased by 6.70% and 5.63% respectively. L&T, Bharti Airtel, Maruti, Kotak Bank, Sun Pharma, and PowerGrid saw their share price go up by 4.82%, 3.54%, 3.45%, 3.45%, 3.27% and 2.94% respectively.
IT majors TCS and Infosys witnessed their share price shooting up by 1.98% and 0.74% respectively. The share price of banking stocks of IndusInd Bank, Axis Bank and ICICI Bank moved ahead by 0.40%, 0.49%, and 2.20% respectively. The share price of Reliance surged by 1.64%. Hindustan Unilever, Titan and Bajaj Finserv were the only stocks to close in the red, their share price dropped by 0.77%, 1.08% and 2.34% respectively.
The NSE Nifty 50 closed the day 2.57% or 366.65 points higher. It wrapped up the day at 14,647.85 points. Tata Motors and Shree Cement Limited powered the gains in the index. Their share price increased by 16.93% and 7.29% respectively. Bajaj Finserv and HDFC Life emerged as the top losers; their prices fell by 2.23% and 2.52% respectively.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
