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In 2021, the 30-share Sensex took a big leap on Budget Day and jumped over 2,000 points to end 5% higher, recording the strongest rally in the past 20 years.
The index recorded its biggest Budget Day gain ever since 1997, as the first digital Budget in the history of India ticked all the right boxes for the equity market.
Finance Minister Nirmala Sitharaman is all set to present Union Budget 2022 today. The budget announcements made by the FM will set the tone of the stock market on February 1 and thereafter. According to market analysts, the share market is expected to remain volatile in this eventful week.
On Monday, the Indian equity market closed in the green ahead of the Union Budget 2022. Sensex zoomed 813 points to 58,014 and Nifty rose 237 points to 17,339.
Shares of Tata Motors Limited were trading lower on Tuesday after India’s largest automaker Tata Motors reported a loss of Rs 1,516 crore (attributable to shareholders) for the quarter ending 31 December 2021, as semiconductor shortages crimped the Indian automaker’s ability to take advantage of the pandemic-driven demand for personal vehicles.
The firm had posted a net profit of Rs 2,906 crore a year earlier when an easing of coronavirus-related restrictions had led to a pick-up in sales. Sequentially, the automaker’s loss narrowed from Rs 4,412 crore in the second quarter of this fiscal year.
9:40 am: Focus on economic recovery hit by COVID-19
All eyes are on FM Sitharaman’s speech for announcements pertaining to giving a fillip to the economy still reeling from the COVID-19 pandemic.
9:30 am: Market ahead of Budget 2022
Sensex zoomed over 700 points to 58,714 and Nifty jumped over 179 points to 17,531.
9:16 am: Market opening
The benchmark indices opened sharply higher ahead of Budget 2022. At 09:16 hours, the 30-share BSE index was trading 521 points higher at 58,536.03, and the broader NSE Nifty was up 189 points to 17,529.45.
Tata Steel was the top gainer in the Sensex pack, advancing over 2 per cent, followed by HCL Tech, Tech Mahindra, NTPC, Kotak Mahindra Bank and Infosys.
