Sensex gains 262 points in early trade ahead of Budget, Nifty crosses 8,900 mark

Mumbai: The benchmark BSE Sensex surged over 262 points and the NSE Nifty regained the 8,900-mark in early trade of a special stock market session today on continued capital inflows and increased buying by retail investors ahead of Budget 2015-16 slated to be announced later in the day.

The 30-share index of the Bombay Stock Exchange, which zoomed 473.47 points in the previous session on the back of robust growth projections in the Economic Survey, gained 262.33 points, or 0.89 percent, to 29,482.45.

Similarly, the National Stock Exchange index Nifty reclaimed the 8,900-mark by surging 74.65 points, or 0.84 percent, to 8,919.25.

Brokers said continued buying by funds and retail investors on hopes of an investor-friendly and growth-oriented Budget for 2015-16 influenced trading sentiments.

All the sectoral indices, led by capital goods, realty, power and banking were trading in positive zone with gains up to 1.76 percent.

This is probably the first time in many years that the Union Budget is being presented on a Saturday. The stock markets are generally closed on Saturdays and Sundays, except for special circumstances.

Meanwhile, the US Dow Jones Industrial Average ended 0.45 percent lower in yesterday’s trade.

PTI