The stock market has got huge support from the initial announcements of the budget and the Sensex is seeing a jump of over 850 points in the initial hour itself. The Nifty is also trading up by about 250 points.
Stock Market Update: Finance Minister Nirmala Sitharaman is presently presenting the Union Budget 2021-22 and her initial announcements have given a fillip to the stock market. In the first 50 minutes, the Sensex has shown a jump of over 850 points and the Nifty is also showing an increase of about 250 points.
The BSE Sensex is trading 864.37 points or 1.87 percent up at 47,150.14, and the NSE Nifty is trading 240.50 points or 1.76 percent up at 13,875.10 in the morning. Let us know that with the announcement of Rs 2.87 lakh crore for the Urban Waterlife Mission, there is a spurt in infra-linked stocks.
Infra shares are seeing a boom at this time and the Nifty is the biggest bounce in banking stocks. IndusInd Bank is up 9.6 percent and ICICI Bank is up 6.19 percent. HDFC is trading with a gain of 4.47 per cent.
Union Finance Minister Nirmala Sitharaman has announced that foreign investment will be encouraged for insurance. He said that the security system will be strengthened to ensure that the money in the bank remains safe.
IPO will be arranged for LIC. At the same time, the Sensex has gained 818 points to reach 47,100 at 11.55 am. After the announcement of scrap policy, there has been a jump in auto share.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.