After the Infra push in Budget, cement, metal & mining stocks rise

While announcing the Union Budget, Finance Minister Arun Jaitley, announced a record allocation of Rs 3.96 lakh crore to infrastructure sector. As per the experts, rise in allocation to infra space will help cement and steel sector in coming years.

After the development, cement stocks such as ACC and Andhra Cement were trading higher by 0.80 % and 1.23%, respectively. Other stocks like Heidelberg Cement and JK Lakshmi Cement were also up by 1.06 % and 0.51%, respectively.

However, the BSE Metal index was trading 0.56 % down at 3054.75 and metal and mining stocks such as Moil, Orissa Mine, NMDC, Sail, Coal India and Apollo Tyres were trading higher by 0.60%, 0.91%, 0.56%, 0.47%, 0.44 %and 0.32%, respectively.

The BSE India Infrastructure index was jumped as much as 0.6 % after the announcement.