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After a growth-focused Union Budget, Sensex and Nifty opened higher today

On Wednesday, Indian markets extended their post-budget bounce, with banking sectors leading gains as the government increased expenditure to put the economy on a more solid footing, albeit dismal reports from a few blue-chip companies restrained gains.

The NSE Nifty 50 index rose 0.73 percent to 17,705.85, while the S&P BSE Sensex rose 0.76 percent to 59,311.88. Following the budget announcements on Tuesday, the indices each gained about 1.5 percent.

In its Union budget, India said that it will increase expenditure to 39.45 trillion rupees in the coming fiscal year to improve public infrastructure and spur economic growth.

The Nifty Bank index and the Nifty PSU Bank index led sub-index advances, climbing 1.3 percent and 1.8 percent, respectively.

Tech Mahindra and Adani Ports, both Nifty components, fell 4.2 percent and 2.3 percent, respectively, after reporting poor quarterly results.

Housing Development Finance Corp, a major mortgage lender, is expected to release its findings later today.

Radium Box Foundation

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