Mumbai: The BSE Sensex soared 310 points Wednesday to close above the 35,000-level for the first time ever after the government lowered additional borrowing requirement for this fiscal, calming widening fiscal deficit fears.
The wider Nifty too finished at its fresh life-time high on unabated buying.
Banking stocks ratcheted up after the Centre Wednesday lowered the additional borrowing requirement for the current fiscal to Rs 20,000 crore from Rs 50,000 crore estimated earlier.
The 30-share Sensex surged 310.77 points, or 0.89 per cent, to end at 35,081.82, breaking its previous record of 34,843.51 reached January 15.
It took the benchmark just 17 sessions to scale the 35,000-mark from the 34,000-level reached December 26. The broader Nifty jumped 88.10 points, or 0.82 per cent, to close at 10,788.55, surpassing its previous record of 10,741.55 hit January 15.
It also touched an intra-day record of 10,803. “The Sensex scaled another milestone with strong buying in banking stocks as the government cut the additional borrowing target…easing some pressure on bond yields and fiscal deficit.
PTI