Budget 2021 Booster shot: BSE Sensex jumps 2,000 points
The BSE Sensex soared over 2,000 points on Monday afternoon after Finance Minister Nirmala Sitharaman completed her first digital presentation of the Union Budget for FY21-22.
The BSE Sensex soared over 2,000 points on Monday afternoon after Finance Minister Nirmala Sitharaman completed her first digital presentation of the Union Budget for FY21-22.
Around 1.50 p.m., Sensex was trading at 48,346.88, higher by 2,061.11 points or 4.45 per cent from its previous close of 46,285.77 points.
See Zee Business Live TV Streaming Below:
The Nifty50 on the National Stock Exchange was trading at 13,826.45, higher by 191.85 points or 1.41 per cent from its previous close.
Banking and finance stocks surged after Sitharaman`s third budget in which she announced that two public sector banks will be privatised apart from the IDBI Bank and one general insurance company.
The government also announced to establish a "bad bank" for management and monetisation of stressed assets.
Giving a major push to infrastructure development in the backdrop of the Covid pandaemic, the Finance Minister announced to set up a Development Finance Institution (DFI) with a capital of Rs 20,000 crore.
To provide ease of compliance, Budget 2021 has also proposed to make dividend payment to REIT/ InvIT exempt from Tax Deduction at Source (TDS).
Sitharaman announced that the government will launch a Securities Market Code in a bid to streamline the securities market.
The Code will include SEBI Act, Govt Securities Act and Depositories Act. All these Acts will be amended for the Code.
Presenting the budget speech in a little under two hours, she also also announced that capital market regulator SEBI will be notified as regulator for a gold exchange.
In another major announcement for financial investors, Sitharaman said that an investors` charter will be launched which will be outline the rights of the financial investors.
The story has been taken from a news agency
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 5 mid cap mutual funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Exclusive: Sebi reviews authorised person regulations; discusses minimum qualification, NISM certification and deposit amount criteria
SIP Investment: Can Rs 70/day savings help you build Rs 6 crore corpus? Understand calculations for 10, 20, 30, and 40 years at 13%, 14%, and 15% return
Stocks To Buy For 2 Weeks: Axis Direct recommends buying these stocks for 5-15 day; check targets, stop losses
EPF vs SIP vs PPF: Which can help generate highest retirement corpus on Rs 11,000 monthly investment in 30 years?
03:05 PM IST