Sensex up by 473 pts, NFTY up by 161 pts of economic growth 2015

The S&P BSE benchmark sensex rallied by 473 points to close at 29,220.12 and CNX Nifty rose by 161 points to finish at 8,844.60 on strong buying by operators on hopes of economic growth coupled with persistent foreign capital inflows into equity market. India ' s GDP is likely to grow at 8.1-8.5 per cent next fiscal and accelerate to double-digit levels in the coming years on the back of reforms, falling crude prices and likely cut in interest rates, says the Economic Survey. The Survey stated that the government has undertaken several reforms and more are on the anvil. The introduction of the GST and expanding direct benefit transfers can be game-changers. Foreign portfolio investors (FPIs) bought shares worth a net Rs 2312.15 crore yesterday as per provisional data released by the stock exchanges while Domestic institutional investors (DIIs) bought shares worth a net Rs 340.79 crore yesterday. The sensex resumed higher at 28,865.12 and shot up further to 29,254.02 before ending at 29,220.12, showing a sharp gain of 473.47 points or 1.65 per cent. The CNX 50-share Nifty also rose by 160.75 points or 1.85 per cent to finish at 8,844.60 after hitting 8,856.95. Meanwhile, the stock exchanges have decided to keep the stock market open tomorrow just like any other normal trading session when the Finance Minister Arun Jaitley presents the first full-fledged Budget of the Narendra Modi government.