Markets end bullish on Budget day; Sensex surges 848 pts, Nifty above 17,500; Metal index outperform

1 Feb 2022 , 03:53 PM

After a gap-up opening on Budget day, the index closed on a positive note in the highly volatile led by the metal, pharma and capital goods stocks.

The 30-share Sensex bagged an 850-point rally to close with 1.46% gains at 58,862 levels while the broader Nifty50 index finished the day at 17,599 levels, up 1.49% or 260 points.

Among sectoral front, the government’s heavy focus on infrastructure in the Union Budget 2022-23, capital goods, banks and cement surged, whereas auto and oil & gas indices ended in the red.

Tata Steel, Sun Pharma, IndusInd Bank, Shree Cement and Hindalco Industries were the top Nifty gainers, while losers included BPCL, IOC, Tata Motors, M&M and SBI Life Insurance.

On the global front, European stocks are trading higher with all the top regional bourses in positive territory. The pan-European STOXX 600 index has jumped to a 12-day high, up 1.2%, with financial services, tech and basic resources leading the gains all up between 2.5% and 2%.