POSITIVE BUDGET KEPT THE MARKET IN UPWARD MOMENTUM

Domestic equity Market extended the rally and ended over 2% on Tuesday as investors continue to cheer Budget announcements amid positive global cues among. 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 was up 1,197.11 points or 2.46% at 49,797.72 with shares of SBI, Ultratech Cement ,HDFC Bank ,L & T ,Bharti Airtel, Maruti, Kotak Bank ,Sun Pharma were having gains of 7.10%, 6.70%, 5.63%, 4.82%, 3.54%,3.45%, 3.45%, 3.27% respectively while shares of Bajaj Finserv,Titan,HUL were having loss of 2.34%, 1.08%, 0.77% respectively. The Nifty was up 366.65 points or 2.57% at 14,647.85.Among Indexes ,Auto Index jumped the most with a gain of 4.01% followed by Realty, Bank, Media,Energy,Pharma Indexes with having gains of 3.79%, 3.56%, 3.28%, 2.19%, 2.13% respectively.

TOP STOCKS IN NEWSCAST:

SBI (State Bank of India) gained over 7% as the bank has announced the launch of its unique shopping carnival - ‘YONO Super Saving Days’. Commencing on the 4th of February, the four days shopping extravaganza which is concluding on the 7th is all set to offer an exclusive range of discounts and cash back to the users of SBI’s banking and lifestyle platform.

Ultratech Cement surged over 6% as the Union Budget focussed on growth with a sharp increase in capital expenditure (capex) allocation. The huge thrust on infrastructure spending by the government in the Budget 2021–22 bodes well for the company.

HDFC Bank rose over 5% as after the bank informed exchanges that the Reserve Bank of India has appointed a professional information technology (IT) company to audit its IT operations after the bank in December was asked to stop all launches of its upcoming digital business-generating activities.

L & T gained over 4% on hopes the stock would be a major beneficiary of the government's capex push.