In the late morning trading on Friday, NSE Nifty surged to record high by gaining 429 points and trading at 22,126.80, while the BSE Sensex rose by 1,444 points, reaching a day high of 73,089.40.
The remarkable upswing in both indices can be attributed to robust global cues and positive budgetary announcements. Wall Street equities closed on a high note the previous night, and Asian markets opened with positive momentum, influencing the upward trend in Indian markets.
Domestically, the Indian benchmarks showed significant advancements, boosted by the government’s commitment to fiscal prudence in its interim budget. The government, as outlined in the interim budget, has set a target to narrow the fiscal deficit to 5.1 per cent in fiscal 2025, along with plans to reduce borrowings. This commitment to fiscal responsibility has contributed to the positive sentiment in the domestic stock market.