Indian Stock Market Gives Thumbs Up to the Budget 2022
Indian Stock Market Gives Thumbs Up to the Budget 2022- Sensex and Nifty gained more than 1%
Indian stock market indices made a gap up opening on Tuesday amid positive global cues. The strong GST collections for the month of January, and the final GDP numbers for FY21 also supported the markets to open higher on Tuesday. Nifty today opened at 17529.45 levels, up by 189.6 points while Sensex made a positive opening of 658.69 points at 58672.86 levels. The Bank Nifty also made a gap up opening of 485.1 points at 38460.45 levels. All levels mentioned are on spot prices.
Indian stock market news today
The Indian stock market indices traded volatile in the after afternoon during the budget commentary today. The budget focused on holistic growth and economic recovery with a focus mainly on infrastructure, digitization, green energy, support for MSMEs, and covid-hit sector like hospitality have supported market sentiments.
However, the market erased some intraday gains in the afternoon session as traders were worried about India’s slow manufacturing activities in the month of January. As per the private survey report, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) – a composite single-figure indicator of manufacturing performance eased to 54.0 in January from 55.5 in December.
On a global front, Asian markets closed in the green today tracking another strong lead from Wall Street fuelled by a rebound in technology shares, while comments from Fed officials eased concerns that it will embark on an aggressive phase of policy tightening. European markets are trading higher following positive cues from the US and Asian markets.
Sensex and Nifty at the Close
At the close, Nifty was up by 237 points or 1.37 percent and closed at 17576.85 levels while Sensex gained by 848.40 points or 1.46 percent and finished at 58862.57 levels. The Bank Nifty index jumped by 530.15 points or 1.40 percent on spot and ended at 38505.50 levels.
The broader markets also closed in the green today. The Nifty midcap index was up by 337.65 points or 1.12 percent and closed at 30611.60 levels. The Nifty smallcap index closed higher by 62.85 points or 0.57 percent and finished at 11179.30 levels.
Top Nifty Gainers and Losers
The top gainers in the Nifty 50 index were Tata Steel, Sun Pharma, IndusInd Bank, Shree Cements, and Hindalco whereas the top losers were BPCL, IOC, Tata Motors, M&M, and SBI Life.
The top gainers in the Nifty midcap index were Navin Fluorine, Dalmia Bharat, and Jindal Steel and the losers were Oil India, Max Financial, CG Consumer.
The top gainers in the Nifty smallcap index were Graphite India, Rain Industries, and Sun Pharma Adv the losers were TV18 Broadcast, Amber Enterprise, Alok Industries
The most active stocks in the Nifty index in terms of value were Tata Motors, Tata Steel, and SBI The most active stocks in terms of volume were Tata Motors, ITC, and SBI
On a sectoral front, the Metals, Pharma, FMCG, Banking, and IT sectors led the rally. The sectors that closed in the red were Auto, Oil & Gas, and PSU Banks.
You may also like to read, Nifty and Bank Nifty Live Today- The Budget 2022 Special
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Happy Investing!!
Editorial desk
