Sensex zooms 300 points, Nifty regains 8,600, post Budget 2017 announcement

Post Budget, Indian investors took a sigh of relief as Finance Minister Arun Jaitley adhered to the path of fiscal prudence and didn’t change the long term tax rate (LTCG) and Short term Tax rate (STCG).

Post the announcements, the S&P BSE Sensex surged over 300 points, led by gains in ITC, ICICI Bank, HDFC, Tata Motors, SBI, Axis Bank, and L&T.

The Nifty50 got back to 8600 which was led by gains in realty, power, oil & gas, capital goods, banks, and auto stocks. S&P BSE realty index saw an increment of 4 %.

The rally in the index was triggered by gains in DLF which increased by 6%, further followed by DB realty which gained 5.1%, and Godrej Properties rallied 4.4%.