Sensex surges 393 points, capital goods stocks rise

Mumbai, Feb 27 (IANS) A day ahead of the union budget, a benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), surged 393 points or 1.37 percent in the late afternoon trade session Friday.

Bullish sentiments prevailed as the day’s biggest trigger – the Economic Survey — was tabled in the Lok Sabha by Finance Minister Arun Jaitley.

The survey projected India’s economic growth at more than 8 percent for the next fiscal.

The annual report card on the state of the country’s economy said the growth should rise further and double digit expansion was a possibility.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) made gains during the late-afternoon trade session. It was trading 131.45 points up or 1.51 percent at 8,815.30 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 28,865.12 points, was trading at 29,139.26 points (at 2.10 p.m.) in the late-afternoon session.

This was 392.61 points up or 1.37 percent from the previous day’s close at 28,746.65 points.

The Sensex had touched a high of 29,191.95 points and a low of 28,837.06 points in trade so far.

On Friday, healthy buying was observed in all sector-based indices of the BSE except fast moving consumer goods (FMCG).

The S&P BSE capital goods index surged 564.40 points, bank index rocketed by 519.72 points, automobile index rose 422.87 points, metal index went up by 266 points, consumer durables index rose 176.70 points and healthcare index was up 114.02 points.

However, S&P BSE FMCG index was down 72.63 points.

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