INDIAN BENCHMARKS ended on a positive note after Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.
Further, India will reduce tax on businesses to 25% over 4 years from a current 30%, with a view to boosting spending and job creation, Finance Minister Arun Jaitley said on Saturday,
The INDIAN BENCHMARKS Sensex surged 141 points at 29362 and the 50-share Nifty soared 57 points to close at 8902.
GLOBAL MARKET CHASE
ASIAN STOCKS were largely stronger after US inflation data renewed speculation of an interest rate hike, advancing despite disappointing Japanese figures that challenged Tokyo's war on falling prices.
U.S. STOCKS ended lower after economic growth was slower than expected during the fourth quarter. However, the broader S&P 500 recorded its best monthly gain since October 2011.
EUROPEAN STOCKS surged to fresh seven-year highs ahead of the European Central Bank's monetary easing measures. Further, encouraging corporate earnings also boosted sentiment.
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