Market Mid-noon Watch: Sensex marches 565 points; IT stocks surge
Market Mid-noon Watch: Sensex marches 565 points; IT stocks surge
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The key indices of the Indian stock market surged substantially for the third day in a row on Wednesday, boosted by strong buying interest in banking and IT sectors. The benchmark Sensex opened with spectacular gains at 59,293.44 points and reached a high of 59,536.53 points, extending the previous two days surge.

The 30-stock  BSE Sensex was trading at 59,428 points during mid-nnon session., up by  1 percent, from its previous day's closing of 58,862.57 points. On Tuesday, the Sensex rose 848.40 points, or 1.46 percent, as Finance Minister Nirmala Sitharaman proposed in the Union Budget 2022-23 a major increase in investments to drive economic growth.

The Finance Minister recommended in the Union Budget 2022-23 to boost capital expenditure by 35.4 percent to Rs 7.50 lakh crore in 2022-23, up from Rs 5.54 lakh crore this year. The National Stock Exchange's broader Nifty 50 index was trading 169.45 points, or 0.96 percent, higher at 17,746.30 points, compared to its previous day's close of 17,576.85 points.

HCL Technologies, one of the IT stocks, rose 3.34 percent to Rs 1170.45. Wipro's stock increased by 1.92 percent to Rs 587.90. TCS jumped 1.49 percent to Rs 3858.80 per share. Tech Mahindra, on the other hand, was down 2.64 percent at Rs 1467.30.

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