Buzzing stocks: Top gainers and losers on Budget day Lots of stocks from auto

FMCG, housing, banks to infra sectors participated in today's relief rally led by Union Budget 2017 but technology stocks (TCS down 2.7 percent and Infosys down 1.4 percent) continued to get butchered due to HI-B visa woes.  Bulls roared Wednesday after lots of expected factors like raising of securities transaction tax, services tax, and long term capital gains tax were left untouched by Finance Minister Arun Jaitley in his Union Budget 2017. It not only pushed pushed Sensex up 486 points but also lifted the rupee by 39 paise. Abolishment of FIPB; more push to affordable housing, rural consumption, agriculture & infrastructure sector (by allotting Rs 3.9 lakh crore); keeping FY18 fiscal deficit target at 3.2 percent; indication of interest rate cut and lowering tax rate to 5 percent from 10 percent for personal income between Rs 2.5-5 lakh crore also boosted sentiment.

 "We expect the Budget to buoy growth, bring down inflation and the interest rate and promote investment and financial savings. Speculation about the introduction of a long-term capital-gains tax on equities has been put to rest. Overall, this is an understated, but nuanced and intelligent Budget," Anand Rathi, Chairman, Anand Rathi Group said. Lots of stocks from auto, FMCG, housing, banks to infra sectors participated in today's relief rally led by Union Budget 2017 but technology stocks (TCS down 2.7 percent and Infosys down 1.4 percent) continued to butcher due to HI-B visa woes. Cigarette major ITC   was the leading contributor to benchmarks' gains (that also touched record high intraday), up 4.5 percent as excise duty hike of 2.5-6 percent on various lengths of cigarettes was within the analysts' expectations limit of 8-10 percent. PSU banks were other major drivers for this rally, with Nifty PSU Bank index rising 4 percent after the capital allocation of Rs 10,000 crore and also left the scope for more allocation (if needed) by government. SBI   gained 4 percent. L&T ,

 BHEL   , Engineers India   etc gained 2-3 percent after the government allocated Rs 3.9 lakh crore for infrastructure spending. Jaitley also left auto sector untouched, due to which Nifty Auto index gained 3.6 percent. Even stable January sales data boosted sentiment. Maruti Suzuki   shares rallied 4.7 percent after volumes increased 27 percent in the month gone by YoY. Eicher Motors   rallied 5 percent after a 50 percent jump in profit and 25 percent growth in Royal Enfield sales. Mahindra & Mahindra climbed 4 percent after major push for rural consumption by government, though its January sales declined 10 percent due to demonetisation.

 Real estate stocks Kolte-Patil   (up 12 percent) and HDIL   (up 6 percent) also participated in rally after big push to affordable housing in the Budget. The government has given infrastructure status to affordable housing. Housing finance companies HDFC   , LIC Housing Finance   , Gruh Finance and DHFL gained 3-6 percent. Non-banking finance companies Bharat Financial Inclusion   and Manappuram Finance   gained 6-9 percent on credit support to rural sector and MSMEs announced by the government. Road developers IRB Infrastructure , Dilip Buildcon   and Ashoka Buildcon   rose 2.5-6 percent after budgetary allocation for highways has been hiked by 13 percent to Rs 64,000 crore. Idea Cellular   shares declined 2 percent on profit booking after rising 63 percent in last 8 consecutive sessions as Vodafone and Aditya Birla Group company confirmed merger talks

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