Stock markets recovered from the budget blues on Monday with the benchmark index Sensex closing higher by 137 points after a survey showed manufacturing activity soared to an eight-year high on new orders.
The 30-share BSE Sensex rose by 136.78 points or 0.34 per cent to settle at 39,872.31 as 18 of its components ended with gains. The recovery was broad as all BSE sectoral indices barring IT and Teck closed with gains.
The 50-share NSE Nifty gained 46.05 points or
Vinod Nair, Head of Research at Geojit Financial Services said, "Market is finding some sanity after the setback of not meeting high expectations from the budget. Manufacturing PMI shows notable rebound providing a breather that economy will stabilize as mentioned in the budget."