BSE Sensex surges 137 pts, NSE Nifty by 35 pts on Economic Survey growth outlook
All eyes are now set on the Union Budget 2013-14 to be presented in the Parliament tomorrow. The upsurge was further supported by firming trend in the Asian region after the US Fed affirmation of its commitment to monetary stimulus, they added.
"We remain optimistic that the Finance Minister will deliver a reform-centric Budget addressing fiscal and current account deficits in the wake of sustained country downgrade scare. Attempts to revive the industry cycle, infrastructure and deepening corporate bond market are some measures likely to be taken up," said Amar Ambani, Head of Research, IIFL.
Asian stocks ended higher after US housing data and comments from US Federal Reserve chief Ben Bernanke lifted the mood in global markets. Key benchmark indices in China, Hong Kong, Singapore, Taiwan and South Korea rose by 0.20-0.87 per cent while Japan's Nikkei Average fell by 1.27 per cent.
European stock markets were trading slightly better in the morning trade as key indices in France, Germany and UK inched up by 0.08-0.16 per cent.
Back home, 22 scrips out of the 30-share Sensex ended up while only eight finished down. Major gainers from Sensex were Bharti Airtel (3.29 pc), L&T (3.16 pc), M&M (3.03 pc), ONGC (2.91 pc), Bajaj Auto (2.23 pc), BHEL (2.15 pc), Tata Steel (1.97 pc), NTPC (1.92 pc), ICICI Bank (1.75 pc), Jindal Steel (1.60 pc), ITC (1.57 pc) and Sterlite Ind. (1.42 pc).
However, Gail India dropped by 1.72 per cent, followed by Infosys (1.56 pc), Tata Motors (1.11
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