The market on Friday opened on a positive note ahead of Macro Economic Survey. The Sensex surged 68.78 points or 0.3 percent at 23044.78, and the Nifty up 30.00 points or 0.4 percent at 7000.60.
L&T, Adani Ports, Coal India and TCS were among the top gainers while Hero, Bajaj Auto, Tata Steel, Maruti and Bharti topped the losers list.
Ahead of the Union Budget, the government on Friday will present its Economic Survey. The Budget this year is likely to seek changes in the savings cap, medical reimbursement limit and exemption on housing loan interest.
The lowest income tax slab is likely to be raised from Rs 2.5 lakh to Rs 3 lakh, which means income up to Rs 3 lakh is likely to be exempt from Income Tax. There are also indications that even the higher IT slabs may be re-jigged.
The interest exemption on home loans is also likely to move up from the current Rs 2 lakh, in a bid to revive the housing sector.
