Sensex Rallies Ahead of Budget 2019; Top Performers

After a long time, it seems there is a moment of rejoice for the investors. The SENSEX (it increased by 665 points at 36,256.69) closed positive ahead of the forthcoming budget.

There were various driving force that contributed towards its success including the strengthening of the rupee, buying of heavyweights, and government booster programs that helped them to meet the fiscal target that was pegged at Rs 6.72 lakh crore.

The market sentiments got a fresh boost and the below-mentioned sectors buoyed to a level high.

Consumer Durables

BSE Consumer Durables index witnessed a drastic rise as most of its indices were in green. The shares of VIP industries increased up by 2.10%, Titan company shares increased by 1.82% and Symphony shares increased up by 1.53%, TTK Prestige shares increased by 0.60%, Whirlpool of India shares increased by 0.58%, Blue star shares increased by 0.44%,  and the overall consumer durable index was trading high by 0.78%.   

Power shares

The S&P Power Index was also trading in a positive zone as most of its indices were green. The shares of Tata Power Company increased up by 2.57%, NTPC increased by 1.08%, Power Grid Corporation of India shares increased up by 1.07% and NHPC was among the top performer. Adani Transmission shares increased up by 0.42%, JSW Energy steel increased by 0.29% and Torrent Power Green shares improved by 0.20%.

Technology Stocks

The technology stocks like Infosys followed by Reliance Industries, Tata Consultancy services, Asian paints, Axis Bank, Kotak Mahindra Bank and HCL stocks rallied with a positive sentiment.

Sector wise, the shares of BSE telecom tanked the most at 34% since the last budget. The BSE realty index, metals, auto, capital goods, oil and gas indices lost their strength by 32%, 30%, and 17%. The past 12 months has been highly volatile for the Indian share market amid global trade war,  high inflation, rupee depreciation, political uncertainties, the stocks witnessed severe selling pressure throughout the phase. But with the arrival of Union budget, it is believed that the SENSEX will move ahead with the confidence.

The past 12 months has been highly volatile for the Indian share market amid global trade war,  high inflation, rupee depreciation, political uncertainties, the stocks witnessed severe selling pressure throughout the phase. But with the arrival of Union budget, it is believed that the SENSEX will move ahead with the confidence.