Sensex up by 358 points on robust growth projections in Economic Survey

Mumbai: The benchmark BSE Sensex soared over358 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 b 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.