Sensex, Nifty LIVE Updates on February 2: Market indices continued trading at record levels on Tuesday, with Sensex back at 50K mark and Nifty breaching 14,700, in line with positive global equities. Extending gains for second session, Sensex gained by 1,200 points to trade at 49,870 and Nifty gained by 365 points to 14,650. Earlier today, Sensex and Nifty have hit intraday highs of 50,154 and 14,731. Sensex and Nifty have hit fresh lifetime highs of 50,184 and 14,753, on 21 January. Yesterday, benchmark indices Sensex and Nifty closed 5% higher on Monday as market participants reacted positively to the announcements by Finance Minister Nirmala Sitharaman in Union Budget 2021. BSE Sensex ended 2,314 points higher at 48,600 and NSE Nifty 50 index gained 646 points to 14,281. After Budget 2021-2022, macro data, ongoing corporate earnings season and global market performance will impact stock markets movement this week. Meanwhile, December quarterly earnings announcements by HDFC, Ajanta Pharma, Balrampur Chini Mills, Carborundum Universal, Dhampur Sugar Mills, Dixon Technologies, Escorts among others will also set the tone for the stock market today.
Here’s a look at the LIVE updates of the market action on BSE and NSE today
1. 16 PM:Budget 2021 outlook
Jaspal Bindra- Executive Chairman, Centrum Group said,”Budget 2021 struck the perfect balance between maintaining investor sentiment, reducing fiscal deficit, boosting job creation and increasing Government spending. Though direct taxes remained unchanged, a commitment to simplification and dispute resolution was welcoming. On the expenditure side, the Budget met expectations. With a slew of key divestments in place, increase in FDI limits, an asset monetization pipeline, planned increased borrowings and the proposed LIC IPO, the Government is building up the arsenal it needs to keep inflows in place as well. Liquidity pressures will need to be kept under check owing to higher deficit and proposed increase in borrowings.”
1.02 PM: PVR raises Rs 800 cr from investors via QIP
Multiplex operator PVR Ltd has raised Rs 800 crore by issuing shares to a set of investors through qualified institutional placement (QIP).
The QIP witnessed an allotment of over 55.55 lakh equity shares to eligible qualified institutional buyers (QIBs) at a price of Rs 1,440 apiece.
“The fund raise committee of the company… approved the issue and allotment of 55,55,555 equity shares to eligible QIBs at the issue price of Rs 1,440 per equity share, aggregating to approx Rs 800 crore,” PVR said in a regulatory filing late on Monday night.
12. 50 PM: Post budget reaction
Rohan Mittal, Chief Financial and Transformation Officer, Gati Ltd said,” FM has proposed steps in the right direction in the budget to boost investment led consumption which will positively impact the domestic logistics industry. The Finance Minister has rightly pointed out the…
Go to the news source: Sensex rises 800 points; Nifty above 14,500; L&T, HDFC Bank, Maruti top gainers