Stock Market Bullish As Sensex, Nifty Post Best Budget-Day Gains Since 1997

New Delhi: Any Union Budget, presented by whichever Finance Minister, never pleases all sections of the society and evokes mixed reactions. It was no different with Nirmala Sitharaman’s Budget speech on Monday.

At the stock market, however, it was all bullish as a six-day downward streak was snapped.

The BSE Sensex gained 5% (2,315 points) on the first day of February to end at 48,600.

The NSE Nifty index jumped 4.7% to a day-end mark of end at 14,281.

The total investor wealth, measured in terms of market capitalisation of BSE-listed stocks, surged by Rs 6.3 lakh crore on Monday.

It was the biggest Budget-day gain since the 1997 Union Budget, which was presented by then-Finance Minister P Chidambaram under the HD Deve Gowda-headed Central government. On that day (February 28, 1997), the stock market had surged by 6%.