The BSE Sensex index soared 2,315 or 5% to 48,601 on Monday, its biggest jump since April and snapping a six-day losing streak after finance minister Nirmala Sitharaman unveiled the Union Budget 2021 and announced measures to revive the pandemic-hit economy. The government’s fiscal deficit for the current fiscal year to March 2021 is likely to reach 9.5%, compared with the budget estimate of 3.5%. For 2021/22 the minister projected a fiscal deficit of 6.8% of gross domestic product. To help revive an economy that suffered its deepest recorded slump as a result of the pandemic the finance minister proposed doubling healthcare spending, a vehicle scrappage policy, recapitalization of public-sector banks and divestment of some state-owned lenders. Risk appetite was also lifted by reports that factory activity in India expanded the most in three months in January, the sixth straight months of improvement in business conditions.
Historically, the India SENSEX Stock Market Index reached an all time high of 50184.01 in January of 2021. India SENSEX Stock Market Index - data, forecasts, historical chart - was last updated on February of 2021.
The India SENSEX Stock Market Index is expected to trade at 46060.47 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 42929.41 in 12 months time.