Sensex soars 425 points; Nifty up 1.45%

01/02/2017 14:30

The key domestic benchmark indices recovered from the day’s low as finance minister Arun Jaitley made no reference to long-term capital gains tax on equities, and also set a comfortable fiscal deficit target of 3.2% for the fiscal year 2017-18. Union finance minister Arun Jaitley’s speech lifted overall sentiment.

At 14:26 hours, the 30-share benchmark index was trading at 28081.31 up by 425.35 points or by 1.54 per cent and then NSE Nifty was at 8685.5 up by 124.2 points or by 1.45 per cent.

Sensex touched intraday high of 28102.28 and intraday low of 27590.1 The NSE Nifty touched intraday high of 8692.8 and intraday low of 8537.5.

The top gainers of the BSE Sensex pack were ITC Ltd. (Rs. 267.90,+3.82%), Mahindra & Mahindra Ltd. (Rs. 1285.50,+3.72%), ICICI Bank Ltd. (Rs. 278.95,+3.68%), Housing Development Finance Corporation Ltd. (Rs. 1413.30,+3.44%), GAIL (India) Ltd. (Rs. 482.90,+3.36%), among others.

The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2174.00,-2.51%), NTPC Ltd. (Rs. 170.70,-1.19%), Dr. Reddy’s Laboratories Ltd. (Rs. 2987.05,-1.13%), Infosys Ltd. (Rs. 919.80,-1.02%), Sun Pharmaceutical Industries Ltd. (Rs. 626.85,-0.74%), among others.

In BSE, BSE Realty index was at 1418.53 up by 48.8 points or by 3.56%. DLF Ltd. (Rs. 142.00,+5.22%), Godrej Industries Ltd. (Rs. 347.40,+4.83%), Oberoi Realty Ltd. (Rs. 324.20,+4.23%), Housing Development & Infrastructure Ltd. (Rs. 64.90,+3.92%), Sobha Ltd. (Rs. 268.75,+3.39%),.

Shares of irrigation and fertiliser companies rose between 3% to 7% after Jaitley, in his Budget presentation said the agriculture sector is expected to grow at 4.1% in 2016-17 thanks to better monsoon.

In BSE, BSE Auto index was at 22396.65 up by 587.41 points or by 2.69%. Mahindra & Mahindra Ltd. (Rs. 1285.50,+3.72%), Bharat Forge Ltd. (Rs. 960.25,+3.33%), Tata Motors Ltd. (Rs. 540.50,+3.23%), Maruti Suzuki India Ltd. (Rs. 6078.15,+3.08%), Eicher Motors Ltd. (Rs. 23690.00,+2.83%),. The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2883 , shares advanced were 1807 while 959 shares declined and 117 were unchanged.

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