Stock market rallies day after Budget, Sensex jumps by over 1,200 points; Nifty hits all-time high
Stock market continued its brilliant run day after budget 2024, with the BSE benchmark Sensex jumping by 1,277 points.
The National Stock Exchange index Nifty was 387 points up at 22,085, hitting an all-time high. As of 12:12 pm, the Sensex was trading at 72,848.
“The bull market at Dalal Street is thriving, fuelled by positive developments such as Wall Street’s surge, a 3 per cent drop in WTI oil prices, and the promising interim Union Budget,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, told news agency PTI.
Reliance Industries, ICICI Bank, Power Grid, Infosys, NTPC, Tech Mahindra, Tata Consultancy Services and UltraTech Cement were the major gainers on the Sensex.
The Sensex had crossed the 72,000 mark in December last year, a feat achieved 12 days after the benchmark had clinched the 71,000 mark.
On th budget day, Sensex had declined 106.81 points or 0.15 per cent to settle at 71,645.30. The Nifty dipped 28.25 points or 0.13 per cent to 21,697.45.
Paytm shares 20% down
All eyes remain on fintech firm Paytm, whose shares slid by 20 per cent on opening, days after the Reserve Bank of India.