Sensex, Nifty surge 1.5 pc in mid-session

Mumbai: Equity benchmarks Sensex and Nifty jumped over 1.50 per cent in mid-session deals on Monday, after the Economic Survey 2021-22 projected a 9.2 per cent growth rate for 2021-22.

Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey that details the state of the economy ahead of the government’s Budget for the fiscal year beginning April 1, 2022.

The Economic Survey has pegged GDP growth in 2021-22 at 9.2 pc and said economic activity has recovered to the pre-pandemic level.

In the afternoon session, the 30-share BSE Sensex was trading 927.59 points or 1.62 per cent higher at 58,127.82. Similarly, the NSE Nifty surged 258.40 points or 1.51 per cent to 17,360.35.

All Sensex constituents — barring HUL, Kotak Bank and IndusInd Bank — were trading with gains.

The survey projected an 8-8.5 per cent growth rate for the Indian economy in 2022-23 fiscal (April 2022 to March 2023).

Elsewhere in Asia, bourses in Hong Kong and Tokyo finished with gains.

Markets in China and South Korea are closed for a holiday.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 5,045.34 crore Friday, as per provisional data.