Sensex Surges Over 1,000 Points, Nifty Above 17,950 As Markets Cheer Budget Proposals

The Indian equity markets gave a thumbs up to the last full year Budget presented by the government going into an election year

Outlook Business Desk

Updated on: 7 July 2023 4:46 pm

Sensex Surges Over 1,000 Points, Nifty Above 17,950 As Markets Cheer Budget Proposals

The Indian equity markets gave a thumbs up to the last full year Budget presented by the government going into an election year. The Sensex rose as much as 1,114 points and Nifty 50 index reclaimed its important psychological level of 17,950.

As per market expectations Budget did not tinker around with capital gains structure, announced income tax cuts for middle class while raising capital expenditure by 33 per cent to Rs 10 lakh crore.

As of 12:57 pm, the Sensex was up 1,129 points at 60,678 and Nifty 50 index climbed 287 points to 17,949.