Union Budget 2019 Stock Market Highlights: The benchmark indices Sensex and Nifty ended higher after Budget 2019 announcements provided a major boost to sentiments. The Sensex closed 212 points higher at 36,469.43, while the Nifty closed just short of the 10,900-mark. Auto stocks Maruti Suzuki and Heromotocorp were the biggest gainers in the Sensex, ending up to 7% higher. Agriculture and auto stocks got a boost after favourable announcements made for farmers in Budget 2019. Defence stocks gained after Piyush Goyal announced that the Defence Budget for FY20 has been increased to Rs 3 lakh crore.
“The Budget provides a massive boost to the primary engine of growth i.e. domestic consumption through income tax sops for nearly 30 million low-income taxpayers and 120 million marginal farmers. This would go down in history as India’s seminal march towards providing succor to the economically disadvantaged groups,” Ajay Bodke, CEO Prabhudas Lilladher PMS said in a note, adding that equity markets would rejoice with the force multiplying boost provided to sectors in domestic consumption like automobiles, consumer staples & durables, real estate, building materials, home improvement and retail-focussed banks & financials.
Meanwhile, the domestic bourses posted a robust rally on Thursday While the Sensex closed 665 points higher at 36,256.69, Nifty closed 1.68% higher at 10,830.95. Tata Motors, Axis Bank shares gained more than 4 per cent each to Rs 722.95, to emerge among the biggest Sensex gainers. Infosys shares gained more than 3.46 per cent to Rs 750.80, while Kotak Mahindra Bank shares are trading 2.5 per cent higher at Rs 1,252.80. We bring to you LIVE updates.