Sensex surges 623 points on budget proposals (Second Lead)
By IANSTuesday, March 1, 2011
MUMBAI - A benchmark index for Indian equities markets surged 623 points Tuesday, a day after the presentation of the federal budget, as investor sentiment was particularly boosted by the steps to attract foreign investors, including overseas funds, to mutual funds.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 17,982.28 points, closed at 18,446.50 points, up 3.5 percent or 623.10 points from the previous close at 17,823.40 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty soared past 5,500 points mark. The 50-share index climbed 3.54 percent or 189.05 points to 5,522.30 points.
There was an all round buying interests in the market as all the sectoral indices closed in the positive led by a sharp rally in auto and banking scrips.
The BSE midcap index surged 3.20 percent and the BSE smallcap index closed 2.38 percent higher.
The BSE auto index soared nearly six percent and the Bankex closed 4.35 percent higher.
