Budget 2019: Sensex jumps over 400 points, Nifty touches 10,974

Budget 2019: Sensex jumps over 400 points, Nifty touches 10,974
Highlights

Benchmark equity indices held on to gains on Friday in afternoon trade as the Budget overshot the fiscal deficit target for the current financial year

The 30-share BSE Sensex was trading 432.27 points, or 1.19 per cent, higher at 36,688.96.

Mumbai: Benchmark equity indices held on to gains on Friday in afternoon trade as the Budget overshot the fiscal deficit target for the current financial year.

The 30-share BSE Sensex was trading 432.27 points, or 1.19 per cent, higher at 36,688.96. Similarly, the 50-share NSE Nifty rose 143.95, or 1.33 per cent, to 10,974.90.

Presenting the budget for 2019-20, Finance Minister Piyush Goyal said the fiscal deficit for the current financial year is expected to be 3.4 per cent of GDP.

As per the Budget estimate, the fiscal deficit for 2018-19 was pegged at 3.3 per cent. As widely expected, the finance minister announced the Pradhan Mantri Kisan Samman Nidhi for small and marginal farmers, providing Rs 6,000 per year to be transferred directly to farmers' bank accounts.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 3,006.41 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,634.32 crore, provisional data available with BSE showed.

The rupee, meanwhile, was trading 4 paise lower against US dollar to 71.12.

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