Mumbai. The opposition may criticize the general budget and call it directionless, but the stock market has welcomed it. There was a strong rally in the stock market on Tuesday, the day of the budget. The Sensitive Index of the Bombay Stock Exchange, BSE, closed 848 points higher at 58,862, while the Nifty of the National Stock Exchange closed 237 points higher at 17,576. The market had also welcomed the Economic Survey a day before the budget. 848 points stock market
However, the impact of the announcement of increasing investment in infrastructure on Tuesday, the budget day, showed the impact on the stocks of steel and cement companies. Tata Steel’s stock was up 7.57 per cent. Pharmaceutical and banking stocks also rose. Sun Pharma’s stock rose 7 per cent. Shares of Axis Bank, IndusInd Bank, ICICI Bank closed up two per cent each. Apart from these, UltraTech Cement, ITC, Titan, Infosys, Tech Mahindra also closed higher.
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The market cap on Monday was Rs 264.45 lakh crore, which stood at Rs 267.48 lakh crore on Tuesday. That is, there was a profit of three lakh crore rupees. On the other hand, the Nifty of the National Stock Exchange closed at 17,576, up more than 236 points. It made a high of 17,622 and a low of 17,244 during the day.
