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Indian Finance Minister arun Jaitley (Courtesy: www.arunjaitley.com)

Sensex Moves up Slightly Ahead of Budget Presentation by Finance Minister

Sensex, the 30-scrip Sensitive Index (Sensex), on Saturday surged 213.71 points or 0.73 percent in the early session ahead of the Union Budget presentation by Finance Minister Arun Jaitley in parliament at 11:00 am.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 56.85 points or 0.64 percent up at 8,901.45 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 29,411.33 points, was trading at 29,433.83 points (at 9.15 a.m.) in the early session, up 213.71 points or 0.73 percent from the previous day’s close at 29,220.12 points.

The Sensex touched a high of 29,437.59 points and a low of 29,406.10 points in the trade so far. All the sectors were trading in green. The rally was led by banking, capital goods and consumer durables sectors.

On Friday the Sensex closed up 472 points or 1.64 percent. owing to bullish sentiments over the Economic Survey that was tabled in the Lok Sabha by Jaitley projecting India’s economic growth at more than 8 percent for the next fiscal.

The annual report card on the state of the country’s economy said the growth should rise further and double digit expansion was a possibility.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made healthy gains during the day’s trade. It provisionally closed 160.75 points or 1.85 percent up at 8,844.60 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 28,865.12 points, closed at 29,218.53 points (3.30 p.m.), up 471.88 points or 1.64 percent from the previous day’s close at 28,746.65 points.

The Sensex had touched a high of 29,254.02 points and a low of 28,837.06 points in intra-day trade.

On Friday, healthy buying was observed in all sector-based indices of the BSE except fast moving consumer goods (FMCG).

The S&P BSE capital goods index surged 678.67 points, followed by bank index which rose 595.40 points, automobile index rocketed 351.20 points, metal index went up by 290.98 points.

Healthy buying was also observed in consumer durables index which increased 225.05 points, healthcare index which was up 150.22 points and oil and gas index which augmented by 146.01 points.(IANS)

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