Markets End The Budget Day On A Strong Note; Nifty Ends 237 Pts. Higher

Like in the initial hours of the trade, with just a mild hiccup in the interim, Indices ended the Budget day on a strong note. Nifty at the closing was up by at. Meanwhile, broader markets underperformed with gains of over 1 percent on the Nifty Midcap 100.

Among Nifty gainers, stocks like Tata Steel, Sun Pharma, IndusInd Bank, Shree Cements and Hindalco topped the charts, while losers in trade have been stocks such as BPCL, Tata Motors, IOC, M&M and SBI Life.

The budget has been eyed as the futuristic budget covering all growth frontiers with emphasis and allocation across all integral segments. While there is no specific grant to the auto sector, EV push will come as a big boon for the entire sector, nudging players in the segment to foray. Also, the battery swapping has been a delight and will promote interoperability within the segment.

Likewise, renewables have not been left behind and there is special allocation of funds that will be deployed towards solar modules.

For banks there is no mention with regard to fiscal infusion as also the divestment.

Furthermore, on the fiscal deficit numbers, the rupee has been seen inching lower. Also, the stronger dollar continued to weigh on the domestic unit.

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