Indian equity market surged post economic survey report which pegged the economy to grow at over 8% in FY16 indicatig announcement of big bang reforms tomorrow. Sensex zooms over 470 points to recliams its important level of 29,000, and ended the day at 29,220.12 while Nifty ended over 8,800 up by 160 points at 8,844.60.
The survey see space for policy easing on the basis of lower inflation. Growth in 2014-15 which could be in and around 8% next year will be largely driven by domestic demand.
Survey emphasised on revitalising the PPP model, which has so far seen poor response from the private players on account of higher risks involved in the initial stage of projects.
Government expects fiscal deficit target of 4.1% for FY15 and CAD to be 1% of the GDP.
Meanwhile USDINR pair ended the day at 61.89 up by 14 paisa.
Among the Sectorial indices of NSE CNX Realty (4.46%), CNX PSU Bank (4.09%) and CNX Metal (3.03%) were the top performer. On the other side CNX FMCG was the only loser of the day, plunging -0.03%.
Out of the 50 stocks of Nifty 47 stocks were advanced while 3 were declined.
Top 5 Nifty gainers: BOB (5.98%), Tata Power (5.32%), L&T (5.04%), Ultra Cement (4.96%) and Grasim (4.87%).
Top 5 Nifty losers: Gail (-0.88%), ITC (-0.67%) and BPCL (-0.24%).