Sensex zooms 665 points; Nifty ends above 10,800
TIMESOFINDIA.COM | Jan 31, 2019, 15:57 ISTHighlights
- On the BSE index, Axis Bank, Tata Motors, Infosys, Reliance Industries, Kotak Mahindra Bank and Bajaj Auto tracked major gains with their stocks surging as much as much as 4.64 per cent
- On NSE, except for Nifty Media, all other sub-indices finished in green with Nifty Bank leading the pack by rising 1.75 per cent
(Representative image)NEW DELHI: Just a day before the Budget presentation, markets logged strong gains on Thursday with the benchmark BSE Sensex surging over 650 points on strong global cues. Sensex soared 665 points or 1.87 per cent to finish at 36,257, while the broader NSE Nifty closed 179 points or 1.68 per cent higher to settle at 10,831.
Investor sentiment got a major boost amid positive reports on expectations from this year's budget. This will be the last Budget to be presented by the Narendra Modi-led government before the general elections, due by May.
On the BSE index, Axis Bank, Tata Motors, Infosys, Reliance Industries, Kotak Mahindra Bank and Bajaj Auto tracked major gains with their stocks surging as much as much as 4.64 per cent. On NSE, except for Nifty Media, all other sub-indices finished in green with Nifty Bank leading the pack by rising 1.75 per cent.
Analysts also feel investors are bullish ahead of the Union Budget on Friday.
“I think there is an expectation of concession and swaps for markets and retail investors. I think the budget is going to be positive for the masses,” said RK Gupta, managing director, Taurus Asset Management.
On the global front, Asian stocks rose to a four-month high after the US Federal Reserve kept interest rates steady, while also discarding promises of “further gradual increases” amid signs of slowing global growth.
Investors shifted their focus to the ongoing talks between the United States and China, with hopes of bridging deep differences over Beijing’s intellectual property and technology transfer practices and easing months-long tariff war.
(With agency inputs)
Investor sentiment got a major boost amid positive reports on expectations from this year's budget. This will be the last Budget to be presented by the Narendra Modi-led government before the general elections, due by May.
On the BSE index, Axis Bank, Tata Motors, Infosys, Reliance Industries, Kotak Mahindra Bank and Bajaj Auto tracked major gains with their stocks surging as much as much as 4.64 per cent. On NSE, except for Nifty Media, all other sub-indices finished in green with Nifty Bank leading the pack by rising 1.75 per cent.
Analysts also feel investors are bullish ahead of the Union Budget on Friday.
“I think there is an expectation of concession and swaps for markets and retail investors. I think the budget is going to be positive for the masses,” said RK Gupta, managing director, Taurus Asset Management.
On the global front, Asian stocks rose to a four-month high after the US Federal Reserve kept interest rates steady, while also discarding promises of “further gradual increases” amid signs of slowing global growth.
Investors shifted their focus to the ongoing talks between the United States and China, with hopes of bridging deep differences over Beijing’s intellectual property and technology transfer practices and easing months-long tariff war.
(With agency inputs)
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