Budget hope lifts indices; Sensex rises 814 pts, Nifty ends above 17,300

Favourable global cues, too, help benchmarks gain 1.4%; overseas investors remain sellers

A combination of favourable global cues and hope around the FY23 Budget helped the benchmark indices recover part of the massive losses they posted over the past two weeks.

The BSE Sensex rose over 1,000 points, or 1.85 per cent, during intraday trade but sustained selling by overseas investors weighed on stock prices. The 30-share index ended the session at 58,014, following a gain of 814 points or 1.4 per cent. The NSE Nifty50, on the other hand, closed the day’s trade at 17,340, up 238 points or 1.4 per cent.

Barring three, all the Sensex components ended in the