Day after Budget, Sensex surges 1,300 points; Nifty tops 14,500

A day after finance minister Nirmala Sitharaman presented the Union Budget 2021, the BSE Sensex rose over 1,300 in early trade today and then dipped to settle over 1,000 points to settle at 49,635.

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The strong showing at the stock exchange was dominated by finance and infra stocks with HDFC Bank rising 6.6 per cent.

The NSE Nifty was higher by 222.65 points at 14,503.85 in early trade.

Infrastructure firm Larsen & Toubro climbed 6 per cent as the post-Budget euphoria continued in the Indian stock market. On Tuesday, the Sensex closed 2,314.84 points up to close at 48,600.61 after reaching an intra-day high of 48,764.40.

The Nifty was also boosted by the Budget surging 646.60 points to finish at 14,281.20.

In the post-Budget meeting, India's finance minister Nirmala Sitharaman had said that the government had chosen to spend big on infrastructure spanning across roads, power generation, bridges and ports.

The finance minister had said disinvestment will continue with Life Insurance Corporation(LIC) to launch an IPO this year.