{"id":20639,"date":"2022-02-02T17:05:03","date_gmt":"2022-02-02T11:35:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ld-stocks-54\/"},"modified":"2022-02-02T17:35:10","modified_gmt":"2022-02-02T12:05:10","slug":"biz-ld-stocks-54","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ld-stocks-54\/","title":{"rendered":"Benchmarks build on gains as Budget cheer continues; bank, finance stocks sparkle"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2717047375\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Feb 2 (PTI) The BSE Sensex surged nearly 700 points to recapture the 59,000-level on Wednesday as the post-Budget rally continued for the second session with intense buying in banking and financial stocks amid supportive global cues.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1151699542\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The Union Budget 2022-23, with higher allocation to infrastructure, is likely to provide a boost to the ongoing economic recovery through a sharp increase in capex spending, which has been welcomed by the market, traders said.<\/p>\n<p> The 30-share BSE benchmark climbed 695.76 points or 1.18 per cent to finish at 59,558.33 &#8212; its third straight session of gains. Likewise, the broader NSE Nifty jumped 203.15 points or 1.16 per cent to end at 17,780.00.<\/p>\n<p> IndusInd Bank was the top gainer in the Sensex pack, spurting 5.57 per cent, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank.<\/p><div class=\"trade-content_5\" id=\"trade-421936451\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> HDFC rose 1.87 per cent after the country&#8217;s largest mortgage lender reported a nearly 13 per cent increase in its consolidated net profit at Rs 5,837 crore for the December quarter.<\/p>\n<p> On the other hand, Tech Mahindra, Nestle India, UltraTech Cement, Maruti, L&#038;T and Sun Pharma were among the laggards, dropping as much as 1.61 per cent.<\/p>\n<p> Of the Sensex constituents, 21 shares closed higher while 9 were in the red.<\/p>\n<p> &#8220;The domestic market continued its bull ride tracking budget cues and positive sentiments from global markets. Most sectors remained green while banking and finance stocks contributed most to the gain.<\/p>\n<p> &#8220;Global markets added to its gains as strong earnings numbers helped investors to digest geopolitical worries. Besides corporate numbers, investors are also awaiting the outcome of OPEC+meeting and Eurozone inflation numbers for January,&#8221; said Vinod Nair, Head of Research at Geojit Financial Services.<\/p>\n<p> Ajit Mishra, VP &#8211; Research, Religare Broking, said markets are currently riding high on the back of optimism post the Union Budget. Besides, global recovery and favourable earnings are adding to the positivity.<\/p><div class=\"trade-content-10\" id=\"trade-838328548\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;Amid all, one shouldn&#8217;t forget that the Nifty index is still in a trading range and 18,000-18,300 would continue to act as a hurdle. We feel participants should focus on identifying the sectors\/themes which are trading in sync with the index. Among the sectors, banking and financials have the potential to outshine others,&#8221; he noted.<\/p>\n<p> All BSE sectoral indices clocked gains, led by bankex, finance, consumer durables, healthcare, realty, IT and teck, which rose as much as 2.08 per cent.<\/p>\n<p> In the broader markets, the BSE midcap and smallcap gauges jumped up to 1.54 per cent.<\/p>\n<p> Global markets were buoyant on the back of robust corporate earnings, despite concerns over Russia-Ukraine tensions and elevated inflation.<\/p>\n<p> Elsewhere in Asia, Japan\u2019s Nikkei closed with healthy gains. Several Asian markets, including China, Hong Kong and South Korea, were shut for the Lunar New Year holidays.<\/p>\n<p> Stock exchanges in Europe were trading in the green in mid-session deals.<\/p>\n<p> Meanwhile, international oil benchmark Brent crude rose 0.27 per cent to USD 89.40 per barrel.<\/p>\n<p> The rupee pared its initial gains to settle on a flat note at 74.83 against US dollar.<\/p>\n<p> Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 21.79 crore on Tuesday, as per provisional data. PTI  BAL ABM  ABM ABM<\/p>\n<div class=\"trade-after-content\" id=\"trade-522468868\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Feb 2 (PTI) The BSE Sensex surged nearly 700 points to recapture the 59,000-level on Wednesday as the post-Budget rally continued for the second session with intense buying in banking and financial stocks amid supportive global cues. The Union Budget 2022-23, with higher allocation to infrastructure, is likely to provide a boost to the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-20639","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Benchmarks build on gains as Budget cheer continues; bank, finance stocks sparkle - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ld-stocks-54\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benchmarks build on gains as Budget cheer continues; bank, finance stocks sparkle\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Feb 2 (PTI) The BSE Sensex surged nearly 700 points to recapture the 59,000-level on Wednesday as the post-Budget rally continued for the second session with intense buying in banking and financial stocks amid supportive global cues. 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