The domestic equity indices ended near the day's high on Thursday led by gains in banks and auto stocks. As per the provisional closing data, the barometer index, the S&P BSE Sensex, jumped 520.68 points or 1.05% at 50,029.55. The Nifty 50 index advanced 176.65 points or 1.2% at 14,867.05.
The buying was supported by positive global cues, backed by strong factory activity data in euro zone and Asia last month, and the optimism around the U. S. government's $2 trillion spending plan.
US President Joe Biden unveiled a massive infrastructure package on Wednesday, which includes roughly $2 trillion in spending over eight years. The government will raise the corporate tax rate to 28%, combined with measures designed to stop offshoring of profits, to fund the infrastructure plan within 15 years.