Sensex Jumps 440 Points, Nifty Climbs to 21,853, Rupee Rises 7 Paise

A day after the presentation of the Interim Budget 2024, domestic benchmark equity indices settled on a higher note on Friday, February 2. The BSE Sensex jumped 440.33 points to settle at 72,085.63, while the NSE Nifty climbed 156.35 points to 21,853.80.

The rupee also rose 7 paise to close at 82.91 (provisional) against the US dollar.

Among the 30 shares of Sensex, 21 ended the day in green tracking a rally in global markets. Top gainers were Power Grid, NTPC, Tata Consultancy Services (TCS), Tata Steel, and JSW Steel rising up to 4.10 per cent. On the other hand, those that suffered the most losses were Axis Bank, HDFC Bank, Hindustan Unilever, ITC, and Larsen & Toubro falling up to 1.42 per cent.

In the afternoon trade at around 12 pm, the Nifty jumped 429.35 points to an all-time high level of 22,126.80. At the same time, the 30-share BSE Sensex also climbed 1,444.1 points to 73,089.40.

In Asian markets, Seoul and Tokyo settled in the positive territory while Shanghai and Hong Kong ended in the red. European markets were trading in the green. The US markets ended with significant gains on Thursday.

Prashanth Tapse, senior VP (research) of Mehta Equities, said, “The Bull market at Dalal Street is thriving, fueled by positive developments such as Wall Street’s surge, a 3 per cent drop in WTI Oil prices, and the promising Interim Union Budget. With a focus on sectors like consumption, defence, railways, hotels, services, and electronics, the goal of India’s $5 trillion economy is in sight.”

Global oil benchmark Brent crude climbed 0.42 per cent to $79.03 a barrel. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,879.58 crore on Thursday, according to exchange data.

The BSE benchmark declined 106.81 points or 0.15 per cent to settle at 71,645.30 on the Budget day on Thursday. The Nifty dipped 28.25 points or 0.13 per cent to 21,697.45.