Key benchmark indices rose to a three-week high today, with banks extending gains on the government's budget commitment to maintaining fiscal deficit, while firm global prices lifted metal stocks. The BSE index closed 0.83 percent higher at 20,634.21, while the broader NSE index closed 0.89 percent higher at 6,127.10. Both were their highest close since Jan. 29.
Apart from banking & metal counters, Capital goods stocks rose for the second day in a row after the government announced reduction in excise duty on some capital goods to 10% from 12% in the Interim Budget for 2014-15 on Monday. The market breadth, indicating the overall health of the market, was positive. In Nifty50 stocks the advances to declines stands at 33 to 15, 2 stocks remained unchanged.
Apart from banking & metal counters, Capital goods stocks rose for the second day in a row after the government announced reduction in excise duty on some capital goods to 10% from 12% in the Interim Budget for 2014-15 on Monday. The market breadth, indicating the overall health of the market, was positive. In Nifty50 stocks the advances to declines stands at 33 to 15, 2 stocks remained unchanged.
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