Nifty, Sensex End Higher On a Volatile Budget Day; Investors Gain Over 3 Lakh Cr

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Nifty, Sensex End Higher On a Volatile Budget Day; Investors Gain Over 3 Lakh Cr

By Malvika Gurung

Investing.com -- The Indian equity benchmark indices Nifty50 and BSE Sensex ended higher in a volatile session on Tuesday, for the second day in a row, after Finance Minister Nirmala Sitharaman presented the Budget for FY 2022-23.

Sensex soared 848 points and ended 1.46% higher, while Nifty50 closed 1.37% in green on a volatile Budget day. All headline indices climbed over 1%, led by economy-oriented stocks.

Investors on D-Street gained Rs 3.33 lakh crore on Tuesday, and over the past two sessions, they added Rs 6.37 crore to their wealth.

All sectoral indices on the Nifty50 basket, except Nifty Auto and Nifty PSU Bank , ended the session up to 4.5% higher, with Nifty Metal outshining all the other sectors. Nifty Bank ended 1.4% high, while Nifty Pharma rose 2.26% on Tuesday.

Leading the gains on the Nifty50 index were Tata Steel (NS: TISC ), Sun Pharma (NS: SUN ), and IndusInd Bank (NS: INBK ), each stock closing over 6%, and the top laggards being BPCL (NS: BPCL ), Indian Oil Corporation Ltd (NS: IOC ) and Tata Motors (NS: TAMO ), declining over 2% on Tuesday.

Tracking the Budget’s announcement of extending the concessional tax, metal stocks surged, with Nifty Metal gaining 4.5%. Real estate stocks also surged following the Budget's announcements on affordable housing.

Nifty Auto lagged on Monday, post lesser-than-targeted sales numbers announced for January 2022.

Nifty PSU Bank slid 0.6% as the FM failed to announce any cash infusion or any mention of privatizing public sector banks announced in the last union budget.

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