Budget optimism: Sensex zooms over 738 points; Nifty reclaims 7,200-mark

Zee Media Bureau

New Delhi: The benchmark Sensex went from strength to strength as it rallied over 700 points as talks of a likely repo rate cut got louder after the presentation of the Budget.

The broader Nifty also reclaimed 7,200-level.

Sensex rallied over 738 points to 23,740.03 in late afternoon trade while Nifty 7,202.

Finance Minister Arun Jaitley's decision to stay on the fiscal consolidation path raised optimism of a rate reduction by RBI to spark private investment and boost growth.

Sentiment remained upbeat after the Union Budget provided a higher outlay for infrastructure and farming sectors.

Fund managers lapped up mid-cap and small-cap shares too.