Bank Nifty is up over 3 percent. Axis Bank, ICICI Bank, Sun Pharma, Tata Motors and HUL are top gainers in the Sensex.
The market is climbing with buying seen in banks, oil & gas, IT, auto and pharma stocks. The Sensex is up 64.94 points at 29285.06 and the Nifty is up 33.05 points at 8877.65.
About 1081 shares have advanced, 1551 shares declined, and 245 shares are unchanged.
Bank Nifty is up over 3 percent. Axis Bank, ICICI Bank, Sun Pharma, Tata Motors and HUL are top gainers in the Sensex. The Finance Minister said that total additional public investment over and above is planned to be Rs 1.25 lakh crore out of which Rs 70,000 crore would be capital expenditure from budgetary outlays. “We also have to take into account the drastically reduced fiscal space; uncertainties that implementation of GST will create; and the likely burden from the report of the 7th Pay Commission,” he said.
“With the economy improving, the pressure for accelerated fiscal consolidation too has decreased. In these circumstances, I will complete the journey to a fiscal deficit of 3 percent in 3 years, rather than the two years envisaged previously. Thus, for the next three years, my targets are: 3.9 percent for 2015-16.
(Posted by Nasrin Sultana)