Indian equity benchmarks on Monday recorded their best performance on a budget day in over two decades after the finance minister announced a slew of measures to revive the pandemic-hit economy, while bond yields jumped sharply on the government's plans to raise more funds from the market. The NSE Nifty 50 surged 4.7 per cent to 14,281.2, while the S&P BSE Sensex jumped 5 per cent to 48,600.61 after six sessions of losses in the run-up to the budget. This marked the Nifty's best daily performance on a federal budget day since at least 1996, according to Refinitiv data. Finance Minister Nirmala Sitharaman proposed doubling healthcare spending, a vehicle scrappage policy, recapitalisation of public-sector banks and divestment of some state-owned lenders, aiming to bolster an economy that plunged into its deepest recorded slump amid the virus outbreak.
Indian equity benchmarks on Monday recorded their best performance on a budget day in over two decades after the finance minister announced a slew of measures to revive the pandemic-hit economy, while bond yields jumped sharply on the government's plans to raise more funds from the market. The NSE Nifty 50 surged 4.7 per cent to 14,281.2, while the S&P BSE Sensex jumped 5 per cent to 48,600.61 after six sessions of losses in the run-up to the budget. This marked the Nifty's best daily performance on a federal budget day since at least 1996, according to Refinitiv data. Finance Minister Nirmala Sitharaman proposed doubling healthcare spending, a vehicle scrappage policy, recapitalisation of public-sector banks and divestment of some state-owned lenders, aiming to bolster an economy that plunged into its deepest recorded slump amid the virus outbreak.
Indian equity benchmarks on Monday recorded their best performance on a budget day in over two decades after the finance minister announced a slew of measures to revive the pandemic-hit economy, while bond yields jumped sharply on the government's plans to raise more funds from the market. The NSE Nifty 50 surged 4.7 per cent to 14,281.2, while the S&P BSE Sensex jumped 5 per cent to 48,600.61 after six sessions of losses in the run-up to the budget. This marked the Nifty's best daily performance on a federal budget day since at least 1996, according to Refinitiv data. Finance Minister Nirmala Sitharaman proposed doubling healthcare spending, a vehicle scrappage policy, recapitalisation of public-sector banks and divestment of some state-owned lenders, aiming to bolster an economy that plunged into its deepest recorded slump amid the virus outbreak.
Here are the highlights of today's market session:
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