Sensex up 358 pts on robust growth projections in Eco Survey

Mumbai, February 27

The benchmark BSE Sensex soared over 358 points to regain the 29,000-level during mid-session trading as buying activity picked up after the Economic Survey projected the Indian economy growing at 8.1-8.5 per cent in 2015-16.

The markets opened at 28,865.12 on optimistic buying and gathered momentum, soon after the Economy Survey was tabled in Parliament, to regain the 29,000-mark by surging 358.57 points, or 1.25 per cent, at 29,105.22.

Major gainers that supported the key indices were Tata Power, L&T, Hindalco, Coal India, ICICI Bank, M&M, NTPC, ONGC, SBI, Sesa Sterlite, Tata Steel, Tata Motors, Axis Bank, BHEL, Hero MotoCorp, HDFC Bank, Sun Pharma, RIL, Bharti Airtel, Infosys and Cipla.

The National Stock Exchange index Nifty also climbed by 121.75 points, or 1.40 per cent, to regain 8,800-level at 8,805.60.

The Economic Survey 2014-15, which was tabled in Parliament today, positively impacted the market sentiment, brokers said.

The Survey has projected GDP growth in the range of 8.1-8.5 per cent in 2015-16 as compared to 7.4 per cent in the previous fiscal. PTI