Additionally, finance minister Arun Jaitley proposed that category I and II foreign portfolio investors (FPIs) should be exempted from taxation on indirect transfers, which made investors a happy lot. Both key indices Sensex and Nifty reclaimed their key levels of 28,000 and 8,700 for the first time, scoring their biggest single-day gain since October 2016. BSE Sensex on Wednesday rose 485.68 points, or 1.76%, to 28,141.64 while the Nifty 50 rises 155.10 points, or 1.81%, to 8,716.40 after finance minister Arun Jaitley’s budget speech
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