Interim budget 2019: Sensex shoots up by 212 pts

Interim budget 2019: Sensex shoots up by 212 pts

Agency News

Mumbai, Feb 1: The domestic equity market registered a gain of 212 points to 36,469 in the afternoon trade on Friday, after interim Finance Minister Piyush Goyal announced populist measures in Interim Budget speech in Parliament.

The Nifty too surged by 62 points to 10,893. Giving relief to the middle-class taxpayer, Mr Goyal said those who earn up to Rs 5 lakh a year would not have to pay any tax.

While, those with an annual income of up to Rs 6.5 lakh would not have to file income-tax returns. In his interim budget, he also gave relief to farmers, announcing PM Kisan Samadhan Nidhi scheme in which, farmers, owning up to 2 hectares of land, will get Rs 6,000 per annum, which will be completely funded by the central government.

Shares of Hindustan Aeronautics and BEL gained up to 3 per cent following this announcement. Shares of auto and real estate companies rallied by up to 6 per cent on the bourses after Mr Goyal proposed measures to boost spending in infrastructure sectors and rural areas.

In sectoral indices, FMCG, Auto, Capital Goods and Realty moved up between 1-2 per cent.In scrips, HeroMoto Corp was the star gainer up by nearly 7 per cent followed by Maruti Suzuki (4.84 %), HLC Technology(3.85%) and Asian Paints(3.16%).

In the stocks which registered loss include Vedanta (17%), Zee entertainment (6.79%) and Yes Bank (4.38%).

The Sensex registered day high and low at 36,778.14 and 36,221.32 respectively. (UNI)