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Sensex jumps 228 points, Nifty ends above 10,800 on hopes of FPI tax rollback
The BSE Sensex rose 228.23 points or 0.63 percent to 36,701.16 while the NSE Nifty closed 88.00 points or 0.82 percent to 10,829.35.
New Delhi: After a three-day falling streak, markets ended in green on Friday amidst hopes that the government may announce some respite in surcharge on foreign portfolio investors (FPIs).
The BSE Sensex rose 228.23 points or 0.63 percent to 36,701.16 while the NSE Nifty closed 88.00 points or 0.82 percent to 10,829.35.
Presenting the Union Budget 2019, Finance Minister Nirmala Sitharaman proposed raising surcharge on the super rich. The FM is also expected to hold a press briefing on Friday evening, amid expectations that the she may announce stimulus for reviving economic growth.
Top gainers in the Sensex pack were Vedanta, Yes Bank, ONGC, M&M, Tata Steel, NTPC, Tata Motors, Sun Pharma, RIL, HDFC, Bajaj Finance and TCS, rising upto 6.55 percent. However, shares of IndusInd Bank, ITC, ICICI Bank, HUL, Powergrid, L&T, HDFC Bank and Kotak Mahindra were major losers, falling upto 1.90 percent.
In the previous session on Thursday the BSE Sensex fell 587.44 points or 1.59 percent to 36,472.93 while the NSE Nifty tanked 177.35 points or 1.62 percent to 10,741.35.