Sensex reclaims 50,000 over Budget euphoria

Mumbai (IANS) Financial markets continued to surge on Tuesday morning with the BSE Sensex gaining over 1,400 points to reclaim the landmark 50,000-mark.

Investors continued to cheer the fact that the budget did not announce any additional burden in terms of taxes or cess on citizens and corporates.

Healthy buying was witnessed in banking, finance and auto stocks.

Banking stocks surged after the Finance Minister announced that two public sector banks will be privatised apart from the IDBI Bank in the upcoming financial year.

Around 9.35 a.m., Sensex was trading at 50,004.06, higher by 1,403.45 points or 2.89 per cent from its previous close of 48,600.61.

It opened at 49,193.26 and has touched an intra-day high of 50,021.59 and a low of 49,193.26 points

The Nifty50 on the National Stock Exchange was trading at 14,687.35, higher by 406.15 points or 2.84 per cent from its previous close.
 

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