Sensex reclaims 40,000 mark ahead of Budget

Mumbai: Domestic equity benchmark BSE Sensex Friday reclaimed the 40,000 mark and the NSE Nifty inched closer to 12,000 level ahead of the Union Budget preseTI) Domestic equity benchmark BSE Sensex Friday reclaimed the 40,000 mark and the NSE Nifty inched closer to 12,000 level ahead of the Union Budget presentation.

The 30-share index was trading 114.67 points, or 0.29 per cent, higher at 40,022.73 at 0930 hours. Similarly, the broader Nifty was quoting 31.85 points, or 0.27 per cent, up at 11,978.60.

"The market is eagerly looking forward to the budget proposals, especially for those things that matter for speedy recovery or revival in growth and employment," said K Joseph Thomas - Head of Research, Emkay Wealth Management.

Response from the market would depend to a large extent on the measures to enhance agrarian employment and productivity, and thereby demand, he said, adding that the fiscal deficit level and the glide path are also important as the markets have a dislike for major deviation from the direction set.

Top gainers in the Sensex pack in early trade included IndusInd Bank, L&T, HUL, Kotak Bank, HDFC, Asian Paints, Bajaj Auto and RIL, rising up to 1.14 per cent.