Mumbai: After a volatile day, the market ended Budget day trading on a higher note. The Nifty was at a 1-month closing high. The 50-share index was up 57.25 points at 8901.85.
The Sensex ended up 141.38 points. About 1241 shares have advanced, 1494 shares declined, and 220 shares are unchanged. Axis Bank, Sun Pharma, Tata Motors, ICICI Bank and HUL were top gainers in the Sensex.
ITC lost 8 percent, BHEL, NTPC, Hindalco and Tata Power were major laggards in the Sensex. The Finance Minister said that total additional public investment over and above is planned to be Rs 1.25 lakh crore out of which Rs 70,000 crore would be capital expenditure from budgetary outlays.
"We also have to take into account the drastically reduced fiscal space; uncertainties that implementation of GST will create; and the likely burden from the report of the 7th Pay Commission," he said.
"With the economy improving, the pressure for accelerated fiscal consolidation too has decreased. In these circumstances, I will complete the journey to a fiscal deficit of 3 percent in 3 years, rather than the two years envisaged previously. Thus, for the next three years, my targets are: 3.9 per cent for 2015-16." he said.
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