Sensex Zooms 1400 Points, Reclaims 50,000 Points

Benchmark indices saw robust gains for the second day post the Budget, with the Nifty now gaining more than 1,000 points in two trading sessions.

The Sensex breached the 50,000 points mark once again with gains of nearly 1,400 points. Stock markets have cheered the Union Budget and the momentum is likely to continue.

Motilal Oswal, MD & CEO, Motilal Oswal Financial Services says, "The FY22 budget has been much better than the market's expectations. The feared and anticipated measures around Covid-Cess/higher capital Gains tax/Wealth Tax etc did not materialize. This will provide a huge relief to market and economy and help in sustaining the buoyant sentiments in the economy."

On Monday, indices logged their sharpest-ever Budget day gains (point wise) as the markets lauded the various proposals announced in the Budget 2021.

In early deal, top gainers on the Nifty include Tata Motors, HDFC Bank, UPL, Larsen & Toubro and Bajaj Finance, while laggards have been Hero Motocorp and HUL.

In January, Coal India's production inched lower by 4.1 percent to 60.5 million tonne (MT). Scrip of the PSU traded higher by over 2%.

Meanwhile, Asian indices on positive global cues traded higher with Hong Kong's Hang Seng up as much as 1.75% at the time of writing this copy.