Sensex, Nifty close higher ahead of Federal Budget

Indian shares extended gains for four consecutive sessions, Thursday, a day ahead of the Union budget that is hopeful of reducing taxes on business.

The NSE benchmark Nifty50 closed 0.25% or 30 points higher at 11,946.75, while the BSE Sensex settled 0.17% or 68 points higher at 39,908.06.

UPL, Bharti Airtel, Britannia, TataMotors and Ultratech Cement were among major Nifty gainers, while Yesbank, Titan, Zeel, JSW Steel and Hcltech led the losses.

PSU Bank stocks continued in their focus all through the day and closed with 1.28% gains on expectation that state run banks will receive a recap benefit in the upcoming union budget.  Syndicate bank, Allahabad Bank and Bank of Baroda gained the most vt 4.14%, 3.47% and 3.27% respectively.

Among the Key stocks, TCS settled 0.15% higher at Rs2241per share on NSE, while HDFC Bank shares dipped 0.27% Rs2482.85 per share and Reliance (RIL) shares ended slightly higher, rising by 0.11%, quoting share price at Rs1284 on NSE.

Please follow and like us: