Business

Budgetary expectations push equity indices higher; Sensex up 148 points

Agency | February 01, 2019 11:28 AM

MUMBAI: Positive expectations from the interim Budget for 2019-20 on Friday buoyed the BSE Sensex by 148 points during the pre-noon trade session.

Just ahead of the interim Budget, healthy buying was witnessed in the auto and capital goods stocks.

At around 9.45 a.m., the Sensex traded at 36,405.45 points, higher by 148.76 points or 0.41 per cent from the previous close of 36,256.69 points.

It had opened at 36,311.74 and has so far touched an intra-day high of 36,448.30 and a low of 36,261.95.

The Nifty50 on the National Stock Exchange traded at 10,869.10, higher by 38.15 points or 0.35 per cent from the previous close of 10,830.95 points.

"Indian markets opened higher on Friday, rose further to touch an intra day high of 10,888 and later softened a bit. Volumes were higher than normal but in line with Budget days. Advance decline ratio remains positive in anticipation of positive cues from the Budget and following large buying from FIIs on Thursday," said Deepak Jasani of HDFC Securities.

"Real estate, FMCG, Media and Auto indices are up, suggesting expectation build-up in these sectors while Metal index is down following poor numbers from Vedanta the previous

evening."

He added that Jet Airways gained on reports that the lenders have made progress in involving Etihad to take a higher stake in the company.

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