Budget 2017 pushes Nifty above 8,700 for 1st time since October 25

The market embraced a slew of market-friendly measures that finance Minister Arun Jaitley announced in his Budget speech with Nifty50 reclaiming its crucial 8,700 mark for the first time since October 25, 2016, while S&P BSE Sensex ended comfortably above its key 28,000 level. 

To the relief of investors, Jaitley made no reference to long-term capital gains tax on equities, and also set a comfortable fiscal deficit target of 3.2% for the fiscal year 2017-18. 

The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points. 

In the broader market, the BSE Midcap