Sensex up 209 points in early trade on Budget rally

Continuing its rising streak for the third straight session, the benchmark BSE Sensex rose 209 points in early trade today on sustained buying by funds and retail investors on growth-oriented proposals in the Budget.
The 30-share index, which had gained 614.85 points in the past two sessions on the back of robust growth projection in the Economic Survey and a series of proposals in the Union Budget, rose further by 209 points, or 0.71 per cent, to 29,570.50.
Also, the National Stock Exchange index Nifty shot up by 63.80 points, or 0.73 per cent, to 8,965.65.
Foreign funds, which did not make substantial purchases on the Budget day due to it being a holiday for global markets, resorted to active buying in today's trade and accumulated stocks, giving push to the indices.

Brokers said continued buying by funds as well as retail investors as proposals of lower corporate tax and deferral of GAAR in the Union Budget for 2015-16 boosted investor sentiments.
Besides, proposal of higher spending in infrastructure sector buoyed the trading sentiments, they added.
Among other Asian markets, Hong Kong's Hang Seng rose by 0.37 per cent, while Japan's Nikkei gained 0.26 per cent in early trade today.