Defense stocks AMS shares rise a day after budget | View the most important details here

Foreign institutional investors (FIIs) offloaded shares worth Rs 1,879.58 crore on Thursday, according to stock market data.

Stock market news: Multibagger defense stock Apollo Micro Systems rose around 3.67 on the day after Union Finance Minister Nirmala Sitharaman presented the Budget and emphasized on the defense sector. The counter opened at Rs 124.05 and then rose 3.67 percent to reach the day's high of Rs 128.50. Shares of Apollo Micro Systems, with a market capitalization of Rs 3,515, have an upper price band of Rs 161.75 and a lower price band of Rs 24,673.

Meanwhile, benchmark equity indices bounced back sharply in early trade on Friday, rallying in global markets along with buying in Reliance Industries and ICICI Bank.

The 30-share BSE Sensex rose 846.64 points to 72,491.94 in early trade. The Nifty climbed 256.55 points to 21,954.
Among Sensex companies, Reliance Industries, ICICI Bank, Power Grid, Infosys, NTPC, Tech Mahindra, Tata Consultancy Services and UltraTech Cement were the biggest gainers.

Axis Bank emerged as the only laggard. In Asian markets, Seoul, Tokyo and Hong Kong were in the positive territory, while Shanghai was in the red. The US stock markets closed with significant gains on Thursday.

“The Dalal Street bull market is flourishing, fueled by positive developments such as Wall Street's surge, a 3 percent decline in WTI oil prices and the promising interim Union Budget,” said Prashanth Tapse, Senior VP (Research), Mehta Equities. Ltd.

The Sensex fell 106.81 points or 0.15 percent to reach 71,645.30 on Budget Day on Thursday. The Nifty fell 28.25 points or 0.13 percent to 21,697.45. The global oil benchmark for Brent crude rose 0.71 percent to USD 79.26 per barrel. Foreign institutional investors (FIIs) offloaded shares worth Rs 1,879.58 crore on Thursday, according to stock market data.

Disclaimer: The article is for information purposes only and not for investment advice.