Marketmen certainly gave a thumbs up to the first Budget post demonetisation with the Nifty ending above the 8,700-mark.
With no announcement of a hike in long-term capital gains tax as well as securities transaction tax, both the benchmark indices consolidated their gains before ending up over 1.7% each. While the S&P BSE Sensex closed up 485.68 points (1.76%) at 28,141.64, the Nifty 50 ended with gains of 155.10 points (1.81%) at 8716.40.
“The equity markets have given a huge thumbs up to the Union Budget 2017, presented by the Finance Minister. Benchmark indices opened in the green on Wednesday and steadily moved up as updates from the budget boosted investor sentiment,” BNP Paribas Mutual Fund senior fund manager – equities Karthikraj Lakshmanan said.
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