Sensex, Nifty close higher as Economic Survey lifts market mood ahead of Budget
India Today
The Nifty 50 closed 0.3% higher at 25,418.90, while the BSE Sensex rose 0.27% to end at 82,566.37. Both indices recovered after falling around 0.8% earlier in the day, as buying returned in heavyweight stocks.
Stock markets ended higher on Thursday, extending gains for a third straight session. The rebound came after positive comments in the government’s Economic Survey lifted investor mood ahead of the Union Budget.
However, gains were limited as the rupee slipped to another record low during the session.
The Nifty 50 closed 0.3% higher at 25,418.90, while the BSE Sensex rose 0.27% to end at 82,566.37. Both indices recovered after falling around 0.8% earlier in the day, as buying returned in heavyweight stocks.
The broader market showed mild gains. The small-cap index rose 0.2%, while the mid-cap index also ended 0.2% higher.
Investor sentiment improved after the Economic Survey projected India’s economy to grow between 6.8% and 7.2% in the financial year starting April. The growth is expected to be driven by strong domestic demand.
While this forecast points to a slowdown from the current year’s projected growth of 7.4%, Finance Minister Nirmala Sitharaman said the outlook “is one of steady growth amid global uncertainty, requiring caution, but not pessimism.”
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