Mumbai: The BSE Sensex soared over 2,000 points on Monday afternoon after Finance Minister Nirmala Sitharaman completed her first digital presentation of the Union Budget for FY21-22.
Around 1.50 p.m., Sensex was trading at 48,346.88, higher by 2,061.11 points or 4.45 per cent from its previous close of 46,285.77 points.
The Nifty50 on the National Stock Exchange was trading at 13,826.45, higher by 191.85 points or 1.41 per cent from its previous close.
Banking and finance stocks surged after Sitharaman’s third budget in which she announced that two public sector banks will be privatised apart from the IDBI Bank and one general insurance company.
The government also announced to establish a “bad bank” for management and monetisation of stressed assets.
Giving a major push to infrastructure development in the backdrop of the Covid pandaemic, the Finance Minister announced to set up a Development Finance Institution (DFI) with a capital of Rs 20,000 crore.
To provide…
