Sensex surges over 350 pts on direct tax sops

Mumbai, Feb 26 (PTI) The Bombay Stock Exchange benchmark
Sensex surged over 350 points within a minute of direct tax
sops, including income tax concessions, proposed by India's
Finance Minister Pranab Mukherjee in Budget 2010-11, while
taking in its stride the partial withdrawal of stimulus
measures.
The 30-share Sensex jumped and remained up in a range of
300 points from the minute Mukherjee touched upon the tax
proposals.
The BSE index was 350 points crossing 16,600.
Led by market leader Reliance Industries, Public Sector
Unit (PSU) bank State Bank of India and Hindalco, the
barometer index saw an upswing as investor confidence was back
that the government will not borrow much from the market. PTI