Nifty Auto rallied the most, over 4%, followed by Nifty PSU Bank, Nifty Realty and Nifty Financial Services gaining over 3% each.
Khara said the budget has rightly recognised the role of core equity capital in financial sector by increasing the FDI limit in insurance companies to 74%.
Sensex trades at 49992 up 1321 points. While the Nifty50 is up 384 points or 2.69% at 14672.
Benchmark equity indices BSE Sensex and NSE Nifty extended their gains for the second straight session on Tuesday after Finance Minister Nirmala Sitharaman presented an expansionary Union Budget for 2021-22.
Indigo Paints will debut on the bourses today after finalising the issue price at Rs 1,490 per share - the higher price band of its public offer.
With an objective to provide better impetus to the ailing economy, the government choose infrastructure and healthcare sector as two big themes in the Budget 2021.
Uday Kotak, Anand Mahindra, Kiran Mazumdar-Shaw and Harsh Goenka showered praises on Nirmala Sitharaman for delivering a growth-oriented Budget.
Unit linked insurance plans offers a combination of both investment and insurance. It offers a chance to invest in stock markets including government and corporate bonds, as per the preference of the policyholder.
The Finance Minister in the budget has proposed increasing the FDI limit in the insurance sector from 49% to 74% in the budget 2021-22.
Sensex ended at 48,600.61, up 2314.84 or 5.00%, while Nifty climbed 646.60 points or 4.74% to settle at 14,281.20.