Market update: Nifty logs fresh closing peak, Sensex rises 97 points on Budget cheer

The benchmark Bombay Stock Exchange (BSE) Sensex on Monday rose over 97 points, while the National Stock Exchange (NSE) Nifty closed at a new peak of 8,956.75 led by surge in capital goods and banking shares boosted by Budget proposals.

Barring Maruti Suzuki, most auto shares faced selling pressure on weak monthly sales. ITC continued to be sellers' radar and the FMCG major slipped another 5 per cent on worries over the Budget proposal to raise excise duty on cigarettes. Healthcare and power shares provided support to the indices, said brokers.

"After an optimistic Budget and with Greek fears subsiding, the market mood has turned mildly optimistic," said Bonanza Portfolio, Senior Vice President, Rakesh Goyal.

Major gainers that supported the rally include Axis Bank, Cipla, BHEL, L&T, Hindustan Unilever, Maruti Suzuki and NTPC.

Sectorwise, the BSE Capital goods index gained the most by climbing 3.58 per cent, followed by Healthcare 1.87 per cent, Banking index 1.81 per cent, Power 1.46 per cent among others.