Market goes up after Finance Minister Arun Jaitely announced the Union Budget for the year 2017-18.The S&P BSE Sensex was trading at 27,947, up 291 points, while the broader Nifty50 was ruling at 8,621, up 60 points. In the broader market, BSE Midcap and BSE Smallcap indices gained 0.6% each.
Nifty PSU Banks gained 0.8% led by PNB.
BSE-Realty rose 1.5% as govt allocates a record Rs 3.96 lakh crore for infrastructure development. Unitech, Oberoi Realty, Godrej Properties and DLF rose between 1.7-3.3%.Emami gains 4% as rural focus likely to fuel consumption.
Oil & Gas stocks gain as govt announces intend to create integrated public sector oil major to compete with global firms. HPCL, IOC, GAIL, BPCL gain between 0.7-2%.
Tractor, fertilizer stocks zoomed as govt raised target for Agri credit raised to Rs 10,000 crore. Deepak Fertilisers, Chambal Fertilisers and Escorts gained 4.5%, 2.6% and 1% respectively.
Pharma sector fell over 1% on BSE Sensex dragged by Aurobindo Pharma, Lupin and Dr. Reddy's.
SBI, ITC, HDFC, and ONGC were the top movers on BSE Sensex while Lupin, TCS, Infosys and Dr. Reddy's were the top losers.
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