Stock market closes higher a day before Union Budget
Stock market closed higher on Friday, a day before the announcement of Budget, for the fourth consecutive session.
Domestic markets opened in the green on Thursday morning with the BSE Sensex gaining over 260 points.
Buying activity in banking, finance and auto stocks supported the indices.
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At 11.38 a.m., Sensex was trading at 31,085.56, higher by 266.95 points or 0.87 per cent from the previous close of 30,818.61. Bajaj Auto, up by 3.20 per cent was the top gainer on the index after the company posted the unexpected Q4FY20 results.
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Hero Morocorp, Asian Paint, Maruti Suzuki and HDFC Bank up between 1.92 to 3.05 per cent, were other top gainers. On the laggards side, NTPC, Larsen, Titan Tech Mahindra were down by 1.99 per cent, 1.44 per cent, 0.49 per cent, and 0.45 per cent respectively.
On the aviation front, stocks witnessed a sharp surge after government announced that domestic flights may resume from May 25. Indigo was up by 8.53 per cent and Spice Jet rose 4.88 per cent.
Sensex had opened at 30,904.29 and has so far touched an intra-day high of 31,107.52 and low of 30,765.32.
The Nifty50 on the National Stock Exchange was trading at 9,147.65, higher by 81.10 points or 0.91 per cent from the previous close.
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