The 30-share index closed 792.96 points or 2.16 per cent higher at 37,494.12. While, the broader NSE Nifty rose 228.50 points or 2.11 per cent to end at 11,057.85. The Budget proposal to hike surcharge on FPIs had spooked foreign investors, who withdrew more than $3.4 billion (Rs 24,500 crore) from domestic equities in July and August. The massive capital outflows also put pressure on the rupee, which slumped to 72-level against the US dollar last week.
Foreign portfolio investors sold shares worth a net of Rs 1,737.20 crore on Friday, while domestic institutional investors purchased shares worth Rs 1,548.49 crore, provisional data showed.
In large part, financial markets sold off on a disappointing budget. Investors will draw comfort from the measures announced today and the process for growth recovery has started, he added.
Sensex jumps high by 792.96 points and Nifty closes at 11057.85
