Domestic equity benchmark BSE Sensex and Nifty started on a positive note today following the announcements made by the Finance Minister, Nirmala Sitharaman. BSE Sensex was trading at 37,392 points, 1299 points higher than the previous close, while the Nifty rose 366 points and trading at 11,071 points.
Gains in BSE Sensex and Nifty are driven by banking, auto and IT stocks amid positive domestic and global cues. Top gainers in the Sensex included Eicher Motors, Maruti Suzuki, HDFC Bank, Mahindra and Mahindra. Rupee rallies 66 paise to 70.68 against US dollar on Finance Minister’s announcements to boost growth. According to experts, rate cut hopes and a slew of measures taken by the government to boost the ailing economy has boosted investor sentiment. Finance Minister has announced several steps to boost the economy in recent days. After four successive rate cuts this year, Reserve Bank governor Shaktikanta Das hinted that there is more room to do so given the growth deceleration and stable inflation that is likely to stay below target for a year or so.
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