A day after the announcement of the Union Budget 2016-17, Indian stocks registered solid gains as investors gave thumbs up to no change in the long-term capital gains tax on sale of shares in the Budget, government's thrust on infrastructure sector and decision to stick to the fiscal deficit target for the next fiscal year.
Thus post budget trading session ended with a smart gain of 235 points or 3.37 per cent owing to across the board buying led by Index heavyweight and cigarette major ITC and IT, FMCG, Realty, Auto and Banking sector rallied key benchmark indices amid positive global cues.
In overseas markets, European stocks edged higher, tracking gains in Asian markets. Chinese stocks led gains in Asian markets after China's central bank cut further the reserve requirement ratio by 0.5 per cent in an attempt to calm investor jitters over the world's second largest economy.
The 50-share broader index opened higher at 7,038.25 and hovered in a range of 7,235.50 and 7,035.10, before settling at 7,222.30, a rise of 235.25 pts, or 3.37 per cent.
Among the sectoral indices, FMCG climbed 5.38 per cent followed by Realty (4.87 per cent), Media (4.67 per cent), Auto (4.28 per cent) IT (3.49 per cent), Bank (3.34 per cent), Infra (3.32 per cent), Finance (2.78 per cent), Metal (2.73 per cent), PSU Bank (2.62 per cent) and Energy (2.06 per cent)
The broader indices, mid-cap-100 and small-cap-100 rose by 2.57 per cent and 3.61 per cent, respectively.
Major gainers in stocks were,ITC by 10.38 per cent, followed by Maruti, ICICI Bank, Vedl, Hero Motoco, GAIL, Adaniports, Tata Motors and ZEEL.
However, losers include, ONGC, HUL and Dr Reddy.
The market breadth turned positive as 1,338 stocks ended higher, 207 finished lower, while 59 ruled steady of the total 1,604.
Turnover in cash segment fell to Rs 19,399 crs from Rs 24,880.62 crore yesterday. A total of 9,313.27 lakh shares changed hands in 85,97,647 trades.
The market capitalisation of NSE stood at Rs 86,77,973 crore.
