Gains were led by index heavyweights such as RIL, Infosys, ICICI Bank and ITC among others

Markets were trading near their day’s highs in late noon trades on Thursday after the Budget presented by Finance Minister Arun Jaitley proposed to revive economic growth.

At 2:16PM the 30-share Sensex was up 425 points at 25,870 and the 50-share Nifty was up 127 points at 7,712.

The Indian rupee was trading lower at Rs 59.88 compared to the previous close of Rs 59.75.

Asian markets were trading mixed with Shanghai Composite nearly unchanged, Hang Seng was up 0.2%, and Straits Times was up 0.2%. The Nikkei ended down 0.56% at 15,216.47

On the personal taxation front, the personal income tax has been hiked to Rs 2,50,000 from Rs 2,00,000 while for senior citizens the tax limit has been hiked to Rs 3,00,000 from Rs 2,50,000. The Budget has also proposed hike in investment under 80C to Rs 1,50,000 from Rs 1,00,000 and exemption on self occupied property to Rs 2,00,000 from Rs 1,80,000 earlier. The PPF limit has also been hiked to Rs 1,50,000 from Rs 1,00,000 earlier.

The recovery was led by gains in Infosys, ICICI Bank, ONGC, HDFC, L&T contributing the most to the Sensex gains.

However, TCS, Bharti Airtel, Reliance Ind and SBI were the top Sensex gainers.

For more visit: Business Standard

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