Sensex Ends Over 200 Points Higher Post Budget; Auto And Realty Stocks Witness Buying

Indian share markets continued their momentum during closing hours and ended the day on a strong note. Gains were largely seen in the auto sector and realty sector, while metal stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 213 points (up 0.6%) and the NSE Nifty closed higher by 63 points (up 0.6%). The BSE Mid Cap index closed up by 0.6%, while the BSE Small Cap index ended the day up by 0.2%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood down by 0.1% and the Nikkei was trading up by 0.1%. The Shanghai Composite stood higher by 1.3%.

European markets were trading on a positive note. The FTSE 100 was up by 0.6%. The DAX was trading flat, while the CAC 40 was up by 0.1%.

The rupee was trading at 71.23 to the US$ at the time of writing.

Presenting the budget, Finance Minister Piyush Goyal today said that the NDA government has removed the 'policy paralysis' plaguing the country.

He said India is back on track and the country is heading towards growth a prosperity.

From announcing full tax rebate on annual income upto Rs 5 lakh to announcing various benefits for farm sector, today's budget was historic.

Here are the key highlights Finance Minister Piyush Goyal announced in interim Budget 2019 today.

In regard to agriculture, the government announced assured income of Rs 6,000 per year for small and marginal farmers. The government is to allocate Rs 750 billion for the scheme.

For the rural sector, it announced budgetary allocation of Rs 190 billion for construction of rural roads under Gram Sadak yojana in the year 2019-20. The government will be allocating Rs 600 billion for a MNREGA scheme.

For the rail sector, the government has set railway capex for FY20 at record Rs 1.6 lakh crore.

For defence sector, the government increased defence budget to over Rs 3 lakh crore and said that it will provide additional funds for defense, if needed. It also disbursed Rs 350 billion under OROP scheme in the last few years.

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