Kashmir Indepth
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Stock markets give a thumbs-up to Interim Budget 2019

The interim budget got a thumbs-up from the stock markets with the benchmark indices gaining gradual ground as the budget speech by the Union Finance Minister Piyush Goyal in parliament progressed.

At 1 p.m., the 30-share Sensex was up 438 points at 36,694 with 24 of the constituents gaining ground.

Earlier, the 30-share Sensex opened the day higher by around 52 points at 36,311.74.

The overall market breadth was also strong with nearly 1,300 stocks advancing as against 955 declines.

At 1 p.m., the broader Nifty was up 131 points at 10,962.

Among the sectoral benchmarks, BSE Auto and BSE Realty rose the maximum as the government provided sops to home buyers thereby enhancing business potential for housing finance companies.

Fast moving consumer goods stocks were also in the limelight as government announced various sops to boost rural income – a huge consumer base for such companies.

Sensex constituents HUL and ITC both gained significant ground during the morning and afternoon sessions.

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