Sensex reclaims 59,000 level
Benchmark indices build on gains as Budget cheer continues; Banking, finance stocks hog the limelight; Investors richer by Rs2.67 lakh cr on Wednesday; Mcap rises Rs9.57trn in 3 sessions to Rs270.65 trn as Sensex gains 2,358.1 pts
Sideways trading with positive bias
Bull Run For 3rd Consecutive Session
♦ BSE Sensex climbed 695.76 pts to 59,558.33
♦ NSE Nifty jumped 203.15 pts to 17,780.00
♦ IndusInd Bank top gainer in Sensex pack
♦ Bajaj Finserv, HCL Tech, Bajaj Fin, Kotak Bank Axis Bank, HDFC among gainers
♦ Tech Mahindra, Nestle India, UltraTech Cement, Maruti, L&T and Sun Pharma decline
♦ Positive global cues, Q3 earnings further support markets
♦ All BSE sectoral indices clocked gains
Mumbai: 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 or 1.18 per cent to finish at 59,558.33 -- its third straight session of gains. Likewise, the broader NSE Nifty jumped 203.15 points or 1.16 per cent to end at 17,780.00. "The domestic market continued its bull ride tracking budget cues and positive sentiments from global markets. Most sectors remained green, while banking and finance stocks contributed most to the gain.
Global markets added to its gains as strong earnings numbers helped investors to digest geopolitical worries. Besides corporate numbers, investors are also awaiting the outcome of OPEC+meeting and Eurozone inflation numbers for January," said Vinod Nair, head (research) at Geojit Financial Services.
