The Sensex hits 35,000 points for the first time, as the government cut its borrowing programme and on hopes that the Union Budget would push growth higher.

The Sensex ended the day at 35,084 points, higher by 310 points, while the Nifty gained 88 points at 10,788 points. Leading the set of gainers in trade were banks, which led the charge, following the reduction in the government borrowing programme. Bond yields fell and bond prices rallied, pushing shares of PSU banking stocks.

State Bank of India rallied 3.5 per cent, while other notable gainers were Axis Bank and Infosys. However, some stocks like Wipro, Hero Motors and Oil and Natutral Gas Corporation fell.

The Bank Nifty hit a new all time high today, like the indices, while the midcap index ended 0.78 points higher. Shares in Zee Entertainment fell after the company declared its results.

Meanwhile, the rupee hit 63.92 to the dollar, while the 10 year yield dropped by 0.13 per cent.

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