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Sensex Reclaims 29,000, Economic Survey Pegs FY16 Growth at 8.5%
27 Feb 2015, 12:39 PM IST 
The Sensex and Nifty continued their northward journey after the government tabled the Economic Survey in the Parliament which pegged the Indian economy to grow at 8.1-8.5 per cent in FY16.
The Economic Survey also said there is scope for big bang reforms in the Budget to be tabled tomorrow.
Survey emphasised on revitalising the PPP model, which has so far seen poor response from the private players on account of higher risks involved in the initial stage of projects.
Government expects fiscal deficit target of 4.1 per cent for FY15 is likely to be met.
Foreign investors, who have played a major role behind the surge in Sensex and Nifty are concerned about the fiscal deficit target.
Buying was visible across the board after the government came out with these numbers. The capital goods stocks were in high demand in trades on Friday on hopes that the government will push investments infrastructure space.
The BSE capital goods index rallied over 3 per cent on the Bombay Stock Exchange.
Banking, metal, realty, power and consumer durable stocks also advanced.
Most of the Nifty basket stocks were trading higher. Jindal Steel zoomed 11 per cent to Rs 205.
Shares in Larsen & Toubro and Tata Power gained on Friday as the government of India selected a consortium of these companies for a mega defence order.
L&T gained as much as 5 per cent to an intraday high of Rs 1,763, while Tata Power Company surged over 4 per cent to a high of Rs 85.75.
NMDC, Bank of Baroda, Hindalco, IDFC, Coal India, Sesa Sterlite, Punjab National Bank and Tata Steel were also trading higher by 2-4 per cent each.
At 12:35 P.M., the Sensex was up 28,974 and the Nifty was up 80 points at 8,764.