Markets -NSE, BSE – are picking up momentum with all the sectoral indices witnessing buying pressure after media reports said that the FM Mrs.Nirmala Sitharaman is going to hold a press conference at 5pm today. More over, media reported the govt may revive the tax surcharge on FPIs helped revive up the equities.
New buying force reflected in the indices such as in metal, media, Auto, Pharma banking and Financial stocks, while a single index FMCG losing on the sectoral index.
The Sensex surged 269 points at 36,742-levels and the Nifty rose 95 points to trade at 10,835-leves at 2.50pm.
Media stocks jumped 3.67% along with Metal Stocks. In media stocks Network18 Media surged 10.38%, DishTv up 6.47%, TV18 Broadcast up 6%, Sun TV Network up 4.53% and PVR up 2.46% as major index gainers on Nifty Media.