Sensex skyrockets 2,315 pts as markets cheer Budget 2021
NIP one of its kind initiative needs to be given a strong push to provide world class infrastructure and improve quality of life. "It has been a great Budget in the current pandemic. The deficit is likely to come down to 6. One couldn't have asked for more, of the total borrowings of Rs 1,50,000 crore a whopping Rs 1,20,000 crore is going for investment. Privatization of PSBs was another bold announcement. Broader BSE midcap and smallcap indices surged as much as 3. 84 points or 5 per cent higher at 48,600. Barring , all the Nifty sectoral indices ended in the green led by index, up 8. BSE Sensex hit an intraday high of 48,381. In brief, the FM has presented a pragmatic, bold and visionary budget in these difficult times: VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services The fiscal deficit is pegged at 9. 84 points or 5 per cent to finish at 48,600. Stock exchanges in Europe were also trading with significant gains in mid-session deals. : Mihir Mehta, Senior Vice President, Ashika Capital To realise the potential of NIP, there is a need for our very own DFI that will address the issues of capital requirements in India. A "substantially higher-than-expected" expenditure pushed fiscal deficit for fiscal 2021 and 2022 well above projections, Aditi Nayar, principal economist at rating agency ICRA told news agency Reuters, adding that yields were expected to sustain a hardening bias, in the absence of frequent open market operations. Comus International started out as a manufacturer of glass mercury tilt-switches for residential and commercial thermostats. 54 lakh crore and and introduced an agri infra cess of up to 100 per cent on some goods to create post-harvest infrastructure for improving farmers' income. Barring Nifty Pharma, all the Nifty sectoral indices ended in the green led by Nifty Bank index Share Market on Budget 2021 HIGHLIGHTS: Domestic equity market benchmarks and ended 5 per cent higher on Monday in post Budget rally. All sectoral indices ended with strong gains. The high fiscal deficit was expected because of low growth leading to lower tax revenues and higher government spending to support lives and livelihoods. The substantial increase in investment would strengthen institutions and improve existing conditions for the better. After touching an intra-day high of 48,764. 74 per cent to finish at 14,281. The expenses will continue to remain high in FY2022 as infection reduces and vaccination exercise gains strength. Given the current situation, the Finance Minister has presented a balanced budget. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended in the positive territory. After Covid-19, as expected, a substantial increase in healthcare sector expenditure amount in the budget is a welcome and much needed step. "Raising FDI in insurance from 49 per cent to 74 per cent is welcome. The market has given complete thumbs up to this mega event has recovered a fair bit of ground. Strong breakout is witnessed in the nifty bank even nifty has seen small falling trend line breakout, going forward immediate support is formed near 14200-14070 zone holding above said levels we may see pull back to continue and resistance is placed at 14400-14500 zone: Rohit Singre, Senior Technical Analyst at LKP Securities The FM has delivered a unique Budget, wherein all the right measures have been proposed to speed up growth. Comus International was founded in June 1978 by our Chairman and CEO, Robert P. : Likhita Chepa, Senior Research Analyst at CapitalVia Global Research The government on Monday budgeted Rs 1. The FM has not tampered with STT, or LTCG which could have otherwise spooked the markets. This, along with FDI regime and development financial institution, would be transforming for the financial markets, he added. NEW DELHI: Equity indices cheered the announcements made by finance minister in Union Budget 2021 with the benchmark BSE sensex jumping over 2,300 points led by gains in banking, financial stocks. In the broader market, BSE Midcap and Smallcap indices rose 2-3 per cent. The much awaited proposal to set up a Development Finance Institution DFI should boost capex in the coming years, he added. The BSE benchmark Sensex skyrocketed 2,315 points on Monday, propelled by gains in financial stocks, as market participants cheered a growth-oriented Union Budget presented by Finance Minister Nirmala Sitharaman. The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore now in Pakistan. However, a close below 14000 will not bode well for the bulls. : Sameet Chavan Chief Analyst-Technical and Derivatives, Angel Broking Indian share markets cheered the Union Budget 2021 announcements and zoomed over 4 per cent after the FM Nirmala Sitharaman concluded her Budget speech. 5 per cent of the GDP for the current fiscal, hit by the COVID-19 pandemic, and 6. It is an independent newspaper in the real sense of the term. Sitharaman also said the government would infuse Rs 20,000 crore into public sector banks PSBs in 2021-22, to meet the regulatory norms. If manages to surpass, we may see it heading higher. Domestic equity market benchmarks BSE Sensex and Nifty 50 ended 5 per cent higher on Monday in post Budget rally. " The proposals to privatise 2 state-run banks and one general insurance firm is noteworthy, as is increase in FDI limit in insurance to 74 per cent. Further, laying prominence of disinvestment, especially of LIC has gone right. In brief, the FM has presented a pragmatic, bold and visionary budget in these difficult times," he added. During the afternoon session, the markets reacted positively to the Union Budget, traders said. Nirmala Sitharaman announced a slew of measures to revive the pandemic-hit economy and higher capital expenditure. But to reduce the burden on consumers, the customs or import duty on these items was cut. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the paper. Infrastructure growth in India is longing for a mega DFI with a bigger risk appetite, that will provide the much needed long term financing to new as well as stalled projects with long gestation periods, and will ease out the burden of commercial banks. Sitharaman on Monday proposed more than doubling of healthcare spending while imposing a new agri cess on certain imported goods and raising customs duty on items ranging from cotton to electronics in a bid to pull the economy out of the COVID-induced trough. 40, the 30-share Sensex ended 2,314. On the currency front, the rupee slipped 6 paise to settle at 73. replace 'international','world'. For the current financial year also, the government had made a provision of Rs 20,000 crore for recapitalisation. Mumbai, Feb 1 PTI The BSE benchmark Sensex skyrocketed 2,315 points on Monday, propelled by gains in financial stocks, as market participants cheered a growth-oriented Union Budget presented by Finance Minister Nirmala Sitharaman. On the other hand, Dr Reddy's, Tech Mahindra and HUL were the laggards. According to Lav Chaturvedi, ED and CEO at Reliance Securities, the single securities market code announced in the Budget speech will bring about ease of doing business in the Indian financial markets. the two had been dating for about a year. Taeyeon and Ravi are reported to be dating. BSE bankex, finance, realty, capital goods and metal indices rallied up to 8. According to FPI statistics available with depositories, overseas investors pumped in a net of Rs 19,473 crore into equities but pulled out Rs 4,824 crore from the debt segment between January 1 and January 29. The move of rationalization of spends, minimal changes to the direct and indirect taxes and no additional taxes will be well received. Fine print of announcements relating to ARC and asset management company to acquire, manage and sell stressed and distressed loans to AIFs needs to be assessed. Ravi picked Taeyeon up from her place in Seongsu-dong, and then went to his place in Seonleung. To push growth via infrastructure creation, Sitharaman proposed raising the government's capital expenditure for FY 2021-22 by 34. Steps like a 1-year tax holiday for affordable housing projects and a 1-year extension for an additional deduction of interest up to Rs 1. Global markets were on an upswing amid increased retail participation in select stocks. I would say that on a scale of 1 to 10, I would rank this budget at a 7. Higher spending will kickstart a virtuous cycle of growth. Union Budget 2021-22: Live coverage This is the fourth time in last 10 years that the markets have closed in positive territory after the budget proposals. The policy would give a clear roadmap for disinvestment in strategic and non-strategic sectors. This was its second-biggest single day jump in absolute terms and the best day in almost 10 months. See Zee Business Live TV Streaming Below: The 30-share BSE Sensex zoomed 2,314. 5 per litre on petrol and Rs 4 per litre on diesel was also slapped but this was offset by a reduction of an equivalent amount in the excise duty -- making it price neutral for consumers. Meanwhile, the global oil benchmark Brent crude futures rose 0. Absence of the much-feared Covid-19 tax and the surcharges on income tax is a great relief. The budget called for increased government spending to revive the economy. 8 per cent in 2021-22 as it sought to strike a balance between supporting growth and maintaining fiscal discipline. The Tribune has two sister publications, Punjabi Tribune in Punjabi and Dainik Tribune in Hindi. While Dr Reddy, Tech Mahindra and HUL were the only losers falling up to 3. Absence of the much-feared Covid tax and the surcharges on Income Tax is a great relief. Market response to the budget reflects growth optimism. The expansion in spending will be funded by higher borrowings which has the potential to create an upward pressure on inflation and interest rates a few months down the line. On similar lines, the broader NSE Nifty soared 646. While extension of the deduction on payment of interest on purchase for affordable housing by another year will encourage home buyers to invest on their own properties, extension of the tax holiday on affordable housing projects will encourage more launches in this category: Ravindra Sudhalkar, CEO, Reliance Home Finance "The real estate industry was expecting growth measures from the Union Budget. The budget was primarily focused on the infra and healthcare sector. 61, while Nifty 50 ended at 14,281, up 646 points or 4. On the NSE platform, sub-indices Nifty Bank, Private Bank, and Finacial Services gained up to 8. 57, while Nifty 50 touched 14,214. 26 per cent, which hit record high intraday. There was an infrastructure push in the budget, focussing on development finance institution and asset monetization to fund the infra projects. Taxes, both direct and Indirect, were left untouched. Meanwhile, foreign portfolio investors FPI have remained net buyers to the tune of Rs 14,649 crore in Indian markets in January, amid availability of global liquidity and emerging markets being a preferred destination for foreign funds. Market response to the Budget reflects growth optimism. For Nifty, 14200 is the level to watch on a closing basis. The benchmarks were propelled by across-the-board buying, with banking and finance stocks leading the charge. Immediate success and rapid growth led to new product development and soon the metal mercury switch and, ultimately, the patented non-mercury switch were designed and offered to the market. The 30-share BSE sensex rose 2,315 points or 5 per cent to close at 48,601; while the broader NSE Nifty settled 647 points or 4. The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. 75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one insurance company, in the next fiscal year. Unveiling the PSE policy in Budget 2021-22, Finance Minister Nirmala Sitharaman said barring four strategic areas, public sector companies in other sectors will be divested. Further, I also feel that the overall net-borrowing of government and the deficit figure is very much in control. Relief on TDS for dividend on REITs and InvITs will boost investment in these instruments," said Krish Raveshia, CEO at Azlo Realty. Comus International is commited to Customer service. Additionally, the minister announced that Foreign Portfolio Investors FPI will now be enabled to debt finance REITs and INVITs after necessary amendments to the law. Market has given a clear thumbs-up. They met through a common friend, and have been dating, even going on a Christmas date recently. On the 25th, Joynews24 caught the pair enjoying a date at Ravi's house. All the key market indices witnessed a sharp rise as investors welcomed the big infrastructure and healthcare boost provided in the Budget. We believe that the RBI will be in sync with the Govt and both will take necessary action to prevent this happening. According to the market watchers, the absence of any negative was the biggest positive for the D-Street. The revenue target from privatisation of PSUs was put at Rs 1. With this announcement, listed insurance sector players were seen zooming higher during the day. We are always looking to enhance and improve our Customer Service, and we look to you, our customers, for feedback about how we are doing and what we can do to improve your experience doing business with us. Primarily, the absence of any negative was the biggest positive. Clearly the government has sacrificed fiscal deficit for growth. Absence of the much-feared COVID tax and the surcharges on income tax is a great relief. They've also been on the same show on the 21st on Ravi's show ' Question Mark', as well as when Ravi was a guest on ' Doremi Market' on November 28th. Privatization of 2 nationalised banks and proposal of monetization of assets like land are clear positives. Equity market will be enthused with no tinkering in capital gains taxes or STT or any form of COVID tax. Privatisation of two nationalised banks and proposal of monetisation of assets like land are clear positives," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Krishna Kumar Karwa, Managing Director of Emkay Global Financial Services, added," A Budget with no changes in direct taxes will certainly be remembered for years to come. Sensex surged 2,315 points or 5 per cent to 48,600. Banking has been the major charioteer in this move. Mumbai, February 1 The BSE benchmark Sensex skyrocketed 2,315 points on Monday, propelled by gains in financial stocks, as market participants cheered a growth-oriented Union Budget presented by Finance Minister Nirmala Sitharaman. This could lead to spreading the risk and reward of such investments across wider spectrum of sophisticated who under the extant guidelines may not have qualified as QIBs for direct investment in security receipts such NRIs, family offices etc: Shagoofa Rashid Khan, Partner and Head - Project, Investment, and Advisory Cyril Amarchand Mangaldas. IndusInd Bank topped the Sensex gainers' chart with a jump of 14. She also allocated Rs 20,000 crore to recapitalise state-run banks that are saddled with bad loans and have been a drag on growth. On the other hand, Dr Reddy''s, Tech Mahindra and HUL were the laggards. A stronger and sustainable rebound in the second half of FY2022 will help the government to improve its fiscal and debt situation in the years ahead. The government projected a fiscal deficit of 9. Indian markets opened on a positive note tracking positive global bourses. [UPDATE 1] Both SM Entertainment and GROOVL1N have stated that they are checking with their artists. replace 'latest','latestnews'. 5 lakh on loan for affordable housing will benefit all stakeholders of the industry and boost investments. Tabling the Budget for 2021-22 in Parliament, the finance minister proposed more than doubling healthcare spending, enhancing capital expenditure to Rs 5. Some of the measures proposed include doubling healthcare spending, a vehicle scrappage policy, recapitalisation of public-sector banks and divestment of some state-owned lenders, aiming to bolster an economy that plunged into its deepest recorded slump amid the virus outbreak. It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees. BSE Sensex reclaimed its crucial 48,350-mark, while the broader Nifty 50 index crossed 14,200 level. Infrastructure development will catapult the country on a higher growth trajectory and have positive cascading effects on many other sectors. Only three index components closed in the red -- Dr Reddy's, Tech Mahindra and HUL, shedding up to 3. 75 lakh crore with a planned initial public offering IPO of Life Insurance Corporation LIC among the state-run companies that will be sold in the next fiscal. As usual, implementation of the plan will be most important. "This is indeed a bold growth-oriented budget. According to Lav Chaturvedi, ED and CEO at Reliance Securities, the single securities market code announced in the Budget will bring about ease of doing business in the Indian financial markets. The story has been taken from a news agency.。
