The 30 share BSE Sensitive Index shot up by 237 points ending at a respectable 16, 429 points as the volatile week ends. Amidst welcoming the budget for the fiscal 2010-11 and lower fiscal deficit projection, BSE gained 1.47% over the last week level during the week.

NSE's 50-share Nifty closed 1.6% up i. e. 77 points at 4,922 levels as compared to the last week-end. Pranab Mukherjee pegged the fiscal deficit at 5.5% of GDP for the next financial year during his budget speech. In fact, he also proposed a reduction in surcharge on corporate tax for the domestic companies by 2.5% from the 10% level.

As the budget sounded dear to many companies, India's largest engineering and construction firm by sales Larsen & Toubro rose by almost 5.84% after the Budget allocated Rs 1.73 lakh crore to develop infrastructure.

But some of them trembled as auto stocks recovered after showing initial losses as the Government hiked the excise duty on cars by 2% to 10% from 8%.

However, the Sensex reacted positively to the budget for the next fiscal by gaining 175 points on the day of the budget.