Markets News

Nifty rises at all time high level due to RBI Policy, Union Budget & others

So far, with the new budgetary session, the Indian market has been revived like never before.

It had been a continuous rally since the Union Budget announcement where every day came up with something new.

On a weekly analysis, the Indian benchmark indexes touched up by more than 9 percent during this week.

A lot of positive events on the back of domestic buying and positive global cues made this thing possible that Nifty crossed the 15,000-benchmark on Friday.

If we neutrally analyze the whole event, it got started due to the growth-oriented Union Budget.

Apart from this, there are various other factors like better quarterly earnings, FIIs buying and the RBI Monetary Policy etc.

Coming on the index front, the BSE Sensex touched up to 4,445.86 points. It was 9.6 percent higher to close at 50,731.63 levels.

The Nifty 50 however surged up to 289.7 points or it was higher by 9.4 percent to settle at 14,924.30 levels.

Also, the benchmark indexes made their fresh record high when the Sensex crossed the 51,000 benchmark.

Along with this, the Nifty50 also jumped up to the dream level of 15,000 for the very first time.

Apart from this, the BSE Largecap index also added up by 9 percent on the back of SBI, Tata-Motors, IndusInd bank and Punjab National Bank with few others rising up to 20-40 percent.

The BSE Smallcap index also made a fresh jump of 6 percent this week. Also, the Nifty PSU Bank index touched up to 25.5%.

Further, the Nifty Metal and Realty indices too added by 11 percent to support the growth rally.

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