Disinvestment plans enthuse markets

Stock markets enthused by FM's announcement

PTI | February 28, 2011



The stock market benchmark Sensex has surged by over 277 points mid-way through Finance Minister Pranab Mukherjee's Budget presentation, in which he proposed to keep up the tempo of the disinvestment process and contain inflation to boost the economy.

The bellwether Sensex rose by 277.32 points to 17,978.23 even as Finance Minister Pranab Mukherjee made his Budget presentation in Parliament today.

The broad-based national Stock Exchange' Nifty also saw an upswing and shot up by 83.65 points to 5,387.20.

The Sensex is close to breaching the 18,000 points level points, driven by brisk buying in Sensex heavyweights. All the 13 sectoral indices were trading in the positive terrain, barring auto.

The upsurge was led by country's most valued firm Reliance Industries which was trading at Rs 991.15, up by 2.61 per cent. Smart buying also lifted the shares of mortgage lender HDFC and infrastructure giant Larsen & Toubro.


 

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