Sensex up 210 points on bullish growth projections in Economic Survey

Mumbai: The benchmark Sensex jumped over 210 points after the Economic Survey projected the Indian economy to grow at 7-7.75 percent in 2016-17, which could accelerate to 8 percent in a couple of years.

The 30-share barometer opened on a higher note and retook the 23,000-level on optimistic buying, but soon succumbed to profit-booking and gave up part of its early gains.

It was trading at 23,185.59 at 1407 hours, up 209.59 points, or 0.91 percent, after the Economic Survey was tabled in Parliament.

The lift came from gains mostly in Coal India, SBI, Axis Bank, L&T, NTPC, HDFC Ltd, Cipla, HDFC Bank, RIL and Tata Motors.

The NSE Nifty climbed 71.65 points, or 1.03 percent, to quote at 7,042.25.

The Survey, which positively influenced market sentiment, has estimated GDP growth of 7-7.75 percent in 2016-17 as against 7.6 percent for the current fiscal.