Markets open on higher note on PM Modi’s mega stimulus announcement

New Delhi: Markets opened on a high note on Wednesday after Prime Minister Narendra Modi on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus to revive the economy.

The BSE Sensex jumped 782.64 points or 2.49 percent to 32,153.76 in early trade while the NSE Nifty soared 232.25 points or 2.53 percent to 9,428.80.

In a televised address to the nation, PM Narendra Modi on Tuesday announced packages for a combined stimulus of Rs 20 lakh crore. Apart from the Reserve Bank of India (RBI) assistance, the government had last month announced a Rs 1.74 lakh crore to provide benefits to the poor, including cash transfers, Rs 50 lakh insurance cover and steps to ensure food security.