Sensex up 120 points as post-budget rally continues

Mumbai, Mar 3 (PTI) The Bombay Stock Exchange benchmark
Sensex shot up by 120 points, or 0.70 per cent, in the opening
trading Tuesday on steady inflow of capital by foreign funds,
prompted by the growth oriented Budget.
Growth in exports for the third straight month in January
at 11.5 per cent also gave a boost to the market.
The 30-share index, which rallied by nearly 520 points in
the past two sessions, rose by another 119.29 points, or 0.70
per cent to 16,891.85 points in the opening trade with metal,
oil & gas, auto and banking sectors leading the surge.
The wide-based National Stock Exchange index Nifty also
moved up by 35.55 points, or 0.70 per cent to 5,052.55 points
at the same time.
Stock brokers said changes in the income tax slabs and
cut in surcharge on corporate tax in the Budget have boosted
market sentiments leading to widespread buying by foreign
funds.
Among the gainers Reliance Industries rose by 2.21 per
cent to Rs 1,005.30, Infosys Technologies by 0.44 per cent to
Rs 2,652, Tata Steel by 0.76 per cent to Rs 613.75 and
Sterlite Industries by 0.40 per cent to Rs 812.60.
In the auto segment, Tata Motors gathered another 0.99
per cent to Rs 805, while Hero Honda gained 0.23 per cent to
Rs 1,801.30 on the back of strong sales in February. PTI