Markets News

Sensex witness best budget week in 10 years in India

There was a continued budget rally on D-street straight up for the fifth consecutive day on February 5,2021. It took the Sensex cross the dream cut off level of 51K for the very first time but it settled below the level.

The Bank Nifty pulled off the index like never before on the back of State Bank of India, Kotak Bank and the HDFC Bank among the top gainers.

On NSE, the Bank indices added up to 3.78 percent.

Together, on a combined basis, it lifted the Sensex that finally touched the highest level of 51,073 points. It was its highest closing level before it could end at 117 points to close at 50,732.

The Nifty also crossed the 15,000 mark for the first time on the NSE.

However, it closed below its 15,000 level near 14,924 but with an addition of 29 points.

Since the month start on February 1, Sensex has gained or added total 4,446 points. Or we can say it was higher by 9.6 percent.

To further analyze, it is the Sensex that has gained the highest number in both the percentage and points term within one week.

It happened for the very first time after the Union Budget release over last 10 years. Experts have already claimed that the Sensex witnessed the best budget week in 10 years in India.


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