Markets roared back to life on Monday after six days of deep declines as Finance Minister Nirmala Sitharaman presented an expansionary Union Budget for 2021-22 which sought to pull the economy out of the pandemic-induced slump through increased spending on infrastructure, healthcare and farm sectors without resorting to higher taxation.
The 30-share BSE Sensex zoomed 2,314.84 points or 5 per cent to finish at 48,600.61. This was its second-biggest single day jump in absolute terms and the best day in almost 10 months.
On similar lines, the broader NSE Nifty soared 646.60 points or 4.74 per cent to finish at 14,281.20.
The benchmarks were propelled by across-the-board buying, with banking and finance stocks leading the charge.
IndusInd Bank topped the Sensex gainers’ chart with a jump of 14.75 per cent, followed by ICICI Bank, Bajaj Finserv, SBI, L&T and HDFC.
Only three index components closed in the red — Dr Reddy’s, Tech Mahindra and HUL, shedding up to 3.70 per cent.