Bulls continued their celebration at the bourses for the second day in a row, thanks to please-all Budget. On the back of heavy buying by foreign portfolio investors, the BSE Sensex breached the psychological 50,000-mark again to hit an all-time high of 50,184.01 during intra-day but slipped marginally to end at 49,797.72, still a gain of 1,197.11 points or 2.46 per cent. The NSE Nifty too surged 366.65 points or 2.57 per cent at 14,647.85.
Provisional figures from bourses reveal, FPIs (net) bought shares worth ₹6,181.56 crore on Tuesday, while domestic funds sold for ₹2,035 crore.
According to dealers, market saw heavy participation from retail investors that lifted the NSE trading volume to over ₹1-lakh crore for the first time since November 27, 2020. “Trading volume took a marginal dip as peak margin was introduced from December 1, 2020. However, investors, especially old ones, are back in the last two days,” said a sub-broker at Chennai.
Kotak Securities has revised its CY21 Nifty-50 target from 13,500 to 15,000 and BSE-Sensex from 46,000 to 51,000. “Since we last gave the CY21 target for Nifty-50 and BSE Sensex in early December, earnings forecast has gone up by about 6 per cent,” said Rusmik Oza, Executive Vice-President, of Kotak Securities, said, adding that: “Post yesterday's Budget, looking at Q3-FY21 numbers that are coming and the very low base of the first half of FY20, we feel there could be more earnings upgrades possible in the next few months.”
SBI was the biggest gainer among the Sensex pack with 7.10 per cent gain at Rs 333.20 followed by UltraTech (6.7 per cent) and HDFC Bank (5.6 per cent).
BSE MidCap and SmallCap indices to ended with a gain of 2.6 per cent and 1.59 per cent, respectively. As many as 249 stocks have hit new year highs and 310 the upper circuit on the BSE.