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The FM may not have heeded the markets but no budget in recent memory had become such a favourite of the stock market.
The NSE Nifty 50 index rose 0.78% to 13,741 by 0346 GMT, while the benchmark S&P BSE Sensex was up 0.84% at 46,673.82.
The ongoing quarterly earnings season would also be in focus directing the movement of indices.
While the increase in the levels of the stock market index is not indicative of economic fundamentals, this definitely offers pointers to a few positive developments as far as the outlook for our economy is concerned.
Reliance shares rose 1.7% after Indian stock exchanges on Wednesday gave the go-ahead for Future Group's $3.4 billion deal to sell its retail assets.
The companies are expecting to benefit from an equity market, which is flush with liquidity and has seen a sharp increase in new retail investors.
On the Sensex chart, HCL Tech was the top gainer, soaring around 6 per cent, followed by Infosys, HDFC, Bajaj Auto, Maruti, Tech Mahindra and M&M.
The Nifty ended up 0.82% at 14,132.90, while the benchmark Sensex firmed 0.64% to 48,176.80, marking its first close above the 48,000 level.
On the earnings front, the release of Q3FY21 results will commence from the next week. Investors expect robust earning figures in the back of healthy festive season sales and opening up of the economy.
Breaching the 45,000-mark for the first time, the 30-share BSE Sensex surged 446.90 points or 1 per cent to finish at 45,079.55. Intra-day, it touched a lifetime peak of 45,148.28.