Market benchmark Sensex climbed over 180 points in the morning session two days after investor sentiment took a beating after the Union Budget failed to meet expectations. After swinging over 300 points in early session, the 30-share BSE index was trading at 39, 921 and the broader NSE rose 59 points to 11,715.
In the previous session, Sensex logged its biggest single-day plunge in more than a decade on Saturday after the Union Budget failed to live up to market expectations of growth-boosting measures and fiscal discipline.
Sensex settled 987.96 points or 2.43 per cent lower at 39,735.53, and Nifty plunged 300.25 points or 2.51 per cent to close at 11,661.85.
Analysts said investors were disappointed as the Budget failed to live up to market expectations of growth-boosting measures and fiscal discipline.
“The lack of major growth boosting measures in itself is negative for the equity market. The new income tax regime would also be negative for tax exempt equity savings schemes,” Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares & Stock Brokers said.