New Delhi: Due to the announcements being made in the budget, there has been a big increase in the stock market. At 12:55, the market is trading strongly at around 3 percent. At this time, the Sensex is 1600, while the Nifty is up by more than 444 points. As expected, good volatility is being seen in the market. The Nifty Midcap is up 1.87 percent, while the Smallcap 100 is trading above 1.27 percent. The Nifty has rapidly crossed the 14,000 level again.
The major reason for the boom is the disinvestment plans along with the announcement of big-budget for infrastructure projects. A big announcement has also been made by the government for asset monetization. Steps will be taken to clean the books of banks. A new Institution for Asset Restructuring and Asset Management has also been announced. In the financial year 2021-22, more than 5 lakh 54 thousand crores will be spent on infrastructure by the government. There is also a positive effect of increasing FDI in the insurance sector to 74 percent. 20,000 crore has been announced by the government in banks.
Most of the Nifty stocks are trading fast. IndusInd Bank is up more than 10 percent. On the other hand, ICICI Bank, Mahindra, and Mahindra, SBI, HDFC, Bajaj Finserv, and ITC are seeing gains of more than 5 percent. Apart from this, UltraTech Cement, Titan Company, Axis Bank, and Larsen, etc. are also in business with a good growth of more than 3 percent.
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