Lagatar24 Desk
Mumbai, Jan 31: With the Union Budget 2022-23 presentation in focus, Indian market indexes surged on Monday, supported by buying across all sectors.
The 30-share BSE Sensex rose 814 points, or 1.42 percent, to 58,014 points, while the wider NSE Nifty rose 238 points, or 1.39 percent, to 17,340 points. The Budget will be presented on February 1 by Finance Minister Nirmala Sitharaman.
Mid- and small-cap stocks ended the day higher, with the Nifty Midcap 100 index up 1.57 percent and small-cap stocks up 1.13 percent.
The National Stock Exchange’s sector gauges all ended the day in the green. Nifty PSU Bank and Nifty IT both beat the index, climbing 2.94 percent and 2.87 percent, respectively, to outperform the index.
On a stock-by-stock basis, Tech Mahindra was the highest Nifty gainer, rising 5.13 percent to Rs. 1,482.95. Among the gainers were Tata Motors, Wipro, BPCL, and Bajaj Finserv. IndusInd Bank, Kotak Mahindra Bank, Coal India, UPL, and Hindustan Unilever, on the other hand, were among the loser companies.
On the BSE, the overall market breadth was positive, with 1,858 shares rising and 1,675 falling.
TechM, Wipro, Bajaj Finserv, Infosys, SBI, and PowerGrid saw the highest gains on the 30-share BSE platform, with their shares gaining as much as 4.88 percent. Among the laggards were IndusInd Bank, Kotak Bank, and HUL.
Investors were also encouraged by the Economic Survey 2021-22, which forecasted 9.2% economic growth for the current fiscal year (2021-22). According to the poll, the next fiscal year’s growth will be between 8% and 8.5 percent.
