Domestic Equity Market witnessed their sharpest-ever Budget rally and ended over 5% as investors cheered the Budget 2021 presented by Finance Minister Nirmala Sitharaman in the Parliament today. Gains in the domestic indices were mainly led by banking, financial and auto stocks. Net Buying of FII/FPI was at Rs.1,494.23 crore while net selling of DII was at Rs.90.46 crore. The Sensex ended 2,314.84 points or 5.00% higher at 48,600.61 with shares of IndusInd Bank, ICICI Bank, Bajaj Finserv, SBI, L & T, HDFC, Ultratech Cement ,Axis Bank gained by 14.75%,12.47%, 11.23%, 10.30%, 8.61%, 8.61%, 7.83%, 7.05% respectively while shares of Dr. Reddy, Tech Mahindra, HUL were the losers with a loss of 3.70%,2.09%, 0.63% respectively. The Nifty rose 646.60 points or 4.74% to settle at 14,281.20 with Indexes like Bank,Realty,Metal,Auto,Media,Energy were having gains of 8.26%,6.31%, 4.87%, 4.23%, 3.42%,2.65% respectively while Pharma Index was the loser with a loss of 0.55%.
TOP STOCKS IN NEWSCAST:
IndusInd Bank gained over 14% after the bank posted a decent set of October-December quarter (Q3FY21) numbers with a 25 per cent quarter-on-quarter (QoQ) growth in net profit at Rs 830 crore, aided by improvement in core operating performance and lower provisions.
ICICI Bank rose over 12% as the bank reported higher profit at Rs 4,939.6 crore in Q3FY21 against Rs 4,146.5 crore in Q3FY20, net interest income increased to Rs 9,912.5 crore from Rs 8,545.3 crore YoY.
Bajaj Finserv jumped over 11% after the government proposed to increase foreign direct investment in the sector to 74 per cent, a move aimed at attracting overseas players.
SBI rose over 10% as Rajnish Kumar, former chairman of State Bank of India has taken up an advisory role with Baring Private Equity Partners India four months after his retirement from the country’s largest lender.