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Market Opens: Indian indices continued the Budget day rally on February 2 with Nifty opens above 14,500.
At 09:16 IST, the Sensex was up 734.26 points or 1.51% at 49334.87, and the Nifty was up 220.70 points or 1.55% at 14501.90. About 1027 shares have advanced, 171 shares declined, and 46 shares are unchanged.
DAILY VOICE | Budget 2021 Has Set The Tone For Economy For Next 2-3 Years: Harshad Chetanwala Of MyWealthGrowth
Overall, if the economy does well every sector does well. Some of the sectors that could do well are banks, consumer discretionary, capital goods, and infrastructure, says Chetanwala.
The dollar hovered near a seven-week high on Tuesday, largely benefiting from a euro selloff overnight after coronavirus lockdowns choked consumer spending in Europe’s biggest economy.
Indian markets are likely to see a gap up opening on the back of strong global cues and investor’s continuous positive reaction to Union Budget. However, global news flows and sector specific development will be key monitorables. US markets ended higher amid value buying.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session.
At 09:01 IST, the Sensex was up 320.46 points or 0.66% at 48921.07, and the Nifty was up 229.70 points or 1.61% at 14510.90.
Best Budget-day Reaction By The Stock Market In 22 Years As Sensex Gains 5%
It was the highest Budget day gain reported by the Sensex in last 22 years as it rose 5 percent, while Nifty rose 4.7 percent.
Crude Updates: Oil prices rose around 1% on Tuesday after major producers showed they were cutting crude output in line with their commitments on restraint, supporting a market thrown out of kilter by weak demand during the coronavirus pandemic.
#Budget2021 winners / losers pic.twitter.com/17CZS0mKPY— Alok Jain ⚡ (@WeekendInvestng) February 1, 2021
FII and DII Trading Activity:
Foreign institutional investors (FIIs) net bought shares worth Rs 1,494.23 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 90.46 crore in the Indian equity market on February 1, as per provisional data available on the NSE.