Sensex, Nifty at three-months high; stocks that gained after Budget 2017

The Union Budget 2017 surely brought in good news for investors trading on Indian equity indices.

Post budget, Sensex and Nifty crossed their 28,000 and 8700 mark which was last seen in the month of October 2016.

Sensex closed at 28,141.64, surging over 485 points or 1.76% and that of Nifty 50 ended at 8,716.40 above 155 points or 1.81%.

Also Indian rupee closed on higher level compared to US dollar. The rupee finished at 67.575 above 0.125 paise or 0.19% against US dollar.

Top gainers on BSE were – Maruti Suzuki at Rs 6172.85 per share (4.69%), followed by auto company called Mahindr & Mahindra at Rs 1296.90 per share (4.64%), ITC at Rs 269.70 per share (4.51%) and ICICI Bank at Rs 280.90 per share (4.40%).

Among other stocks that gained were – State Bank of India (Rs 270.30 per share), Gail India (Rs 484.75 per share), Adani Ports (Rs 303.95 per share), HDFC (Rs 1414.95 per share), Tata Motors (Rs 541.70 per share) and Larsen & Toubro (Rs 1490.75 per share) in the range of 3%-4%.

Shares of Eicher Motors jumped over Rs 1161.55 per share or 5.04% on BSE, at Rs 24,199 per share after the company reported 50% year-on-year (yoy) rise in consolidated net profit.

In Q3FY17, the Royal Enfield maker reported consolidated net profit of Rs 418.2 crore against Rs 278.7 crore in the corresponding period of the previous year.

Top losers on BSE were – TCS at Rs 2169.45 per share (2.71%), Infosys at Rs 916.55 per share (1.37%), NTPC at Rs 170.55 per share (1.27%), Sun Pharma at Rs 624.85 per share (1.06%) and ONGC at Rs 200.25 per share (0.94%).

Banking stocks:

Nifty Bank touched five-month high reaching above 20,000-mark which was last seen in September 2016. The index closed at 20,020.60, higher by 505.45 points or 2.59%.

While Nifty PSU ended at 3,300.20-mark surging by 125.85 points or 3.96%.

In line with the Indradhanush roadmap, the cabinet in the Union Budget 2017, has decided to provide Rs 10,000 crore for recapitalisation of banks. Additional allocations will be made if needed further.

Sector-wise performance on BSE:

Four sectors namely auto, bankex, metal and Fast moving consumer goods (FMCG) were the top winner on BSE after Budget.

S&P FMCG index closed at 8806.35, up by 238.77% or 2.79%. Top gainers were – Cupid, Emami, Radico Khaitan, Heritage Food, United Spirits and ITC closing positive between the range of 4% - 9.30%.

Along with budget, the January sales number added to the performance of automobile companies. The S&P Auto was top gainer on BSE by surging over 754 points or 3.46% at 22,563.21.