Sensex rebounds over 700 points post budget on heavy buying

The stock market benchmark BSE Sensex recovered post budget on heavy buying by domestic investors after it felt over 600 points following various tax proposals of Finance Minister Arun Jaitley in the Union Budget 2016-17.

Updated: Feb 29, 2016, 15:34 PM IST
Sensex rebounds over 700 points post budget on heavy buying

Zee Media Bureau

New Delhi: The stock market benchmark BSE Sensex recovered post budget on heavy buying by domestic investors after it felt over 600 points following various tax proposals of Finance Minister Arun Jaitley in the Union Budget 2016-17.

The NSE Nifty also recovered after having fallen over 200 points earlier.

Sensex regained over 700 points to trade 66 points at 23,229.60 at 13:45 hours while Nifty was trading at 7,062.30, up 32.55 points.

In a sharp knee-jerk reaction to various tax proposals made by Finance Minister Arun Jaitley in his Budget 2016-17, the stock market benchmark Sensex crashed 660 points.

The NSE Nifty also sank below the 6,900-mark during the Budget presentation, before recouping the losses.

The 50-share NSE Nifty dropped 203.95 points, or 2.90 per cent, to 6,825.80.