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Sensex climbs ahead of interim budget

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Hope and optimism ahead of Monday’s interim budget saw the Sensex end the last trading day of the week 1.8 percent higher.

The coalition government, which faces general elections by May, is likely to focus on measures to shore up the flagging economy and stem job losses in the interim budget.

The proposal to cuts most passenger fares, as announced in the interim rail budget today, also helped boost investor sentiments.

Energy, financial stocks and engineering firms rose as investors built position ahead of Monday’s budget announcement.

Sensex snaps two-day rise

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The benchmark index shrugged off lower-than-expected inflation figures and fell 1.21 percent on Thursday, as a slump in domestic demand and fresh concerns over the U.S. economy took a toll on investor sentiment.

The Sensex closed 110.97 points down at 9,090.88, snapping a two-day rise. Losses were led by Reliance Industries, which fell 1.6 percent to 1286.75, and HDFC which dropped 3.6 percent.

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