Enthused over various measures announced in the Budget, Sensex on Tuesday reclaimed the 50,000-mark in the opening session while the Nifty climbed over 400 points to trade over 14,700 points.
The BSE gauge Sensex was trading over 50,000 mark, witnessing a strong rally of over 1500 points or 3.16 per cent in opening deals.
Likewise, the NSE barometer Nifty was higher by 447 points or 3.15 per cent at 14,728 in early trade.
According to exchange data, foreign portfolio investors (FPIs) purchased shares worth a net Rs 1,494.23 crore on Monday. Asian markets were also trading broadly higher in afternoon trade.
Economists and market analysts are of the view that this is a bold growth-oriented budget and absence of the much-feared COVID tax and the surcharges on Income Tax is a great relief. Besides, privatisation of two nationalised banks and proposal of monetisation of assets like land are clear positives, according to them.
Market response to the budget reflects growth optimism and in brief, the government has presented a pragmatic, bold and visionary budget in these difficult times, they said.