Sensex surges 163 points ahead of General Budget

Last Updated: Thu, Feb 28, 2013 04:19 hrs

The BSE benchmark Sensex rose by nearly 163 points in early trade today ahead of Union Budget 2013-14 amid a firming global trend.

The 30-share barometer gained by 162.86 points, or 0.85 per cent, to 19,315.27. The index had gained 137.27 points in the previous session after pre-Budget Economic Survey projected a promising growth outlook for 2013-14.

All the sectoral indices led by capital goods and realty, were trading in positive zone with gains up to 1.49 per cent.

Similarly, the wide-based National Stock Exchange Nifty index moved up by 49.55 points, or 0.85 per cent, to 5,846.45.

Brokers said fresh positions built-up by participants on expectations of some sops in the Budget for the year 2013-14 to be announced later in the day buoyed the trading sentiment.

Besides, a firming trend in the Asian region, taking a strong lead from Wall Street, which rose on upbeat economic data and the Federal Reserve chief's renewed commitment to loose monetary policy further boosted the sentiment, they said.

Meanwhile, Hong Kong's Hang Seng index was up by 1.10 per cent, while Japan's Nikkei index gained 1.45 per cent in early trade today. The US Dow Jones Industrial Average ended 1.26 per cent higher yesterday.

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