The India Watch

Sensex soars by 443 points, Nifty reaches 21,853, while the rupee gains 7 rupees

<p>On Friday, February 2, the local benchmark market indexes ended the day higher after the release of the Interim Budget 2024. The NSE Nifty increased 156.35 points to 21,853.80, while the BSE Sensex gained 440.33 points to end at 72,085.63.</p>
<p><img decoding=”async” class=”alignnone wp-image-384247″ src=”” alt=” sensex soars by 443 points nifty reaches 21853 while the rupee gains 7 rupees bse” width=”1082″ height=”721″ title=”Sensex soars by 443 points, Nifty reaches 21,853, while the rupee gains 7 rupees 3″ srcset=” 510w,–150×100.jpg 150w” sizes=”(max-width: 1082px) 100vw, 1082px” /></p>
<p>In addition, the rupee gained 7 paise versus the US dollar, closing at 82.91 (provisional).</p>
<p>Twenty-one of the thirty Sensex equities finished the day in the green, after a surge in international markets. Power Grid, NTPC, Tata Steel, JSW Steel, and Tata Consultancy Services (TCS) were the top gainers, increasing to 4.10 percent. Conversely, Axis Bank, HDFC Bank, Hindustan Unilever, ITC, and Larsen & Toubro saw the most losses, with a combined percentage of 1.42 percent.</p>
<p>Around 12 p.m., during afternoon trading, the Nifty surged 429.35 points, reaching an unprecedented peak of 22,126.80. The 30-share BSE Sensex increased by 1,444.1 points to 73,089.40 at the same time.</p>
<p>Shanghai and Hong Kong concluded in the red in the Asian markets, although Seoul and Tokyo settled in the positive region. The markets in Europe were trading higher. On Thursday, the US markets concluded with big gains.</p>
<p>“The Bull market at Dalal Street is thriving, fueled by positive developments such as Wall Street’s surge, a 3 per cent drop in WTI Oil prices, and the promising Interim Union Budget,” said Prashanth Tapse, senior VP (research) of Mehta Equities. The aim of India’s $5 trillion GDP is within reach with an emphasis on industries like electronics, defense, hotels, railroads, and consumers.</p>
<p>The benchmark for world oil, Brent crude, increased 0.42 percent to $79.03 a barrel. Based on exchange statistics, foreign institutional investors (FIIs) sold off stocks worth Rs 1,879.58 crore on Thursday.</p>
<p>On Thursday, the day of the budget, the BSE benchmark fell 106.81 points, or 0.15 percent, to end at 71,645.30. To 21,697.45, the Nifty fell 28.25 points, or 0.13 percent.</p>

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