Mumbai: Benchmark Sensex jumped 741 points, while Nifty rallied to close above 23,500 on Friday on heavy buying in Larsen & Toubro (L&T) post its Q3 results and the Economic Survey predicting a pro-growth budget.

Rallying for the fourth day running, the 30-share BSE Sensex ended 740.76 points or 0.97 per cent higher at 77,500.57. During the day, it jumped 846.15 points or 1.10 per cent to 77,605.96. The NSE Nifty rallied 258.90 points or 1.11 per cent to 23,508.40. During the day, it climbed 297.3 points or 1.27 per cent to 23,546.80. In the month of January, the BSE benchmark declined 638.44 points or 0.81 per cent, while the Nifty lost 136.4 points or 0.57 per cent.

“The indices are fueled with expectations of a pro-growth budget and prudent fiscal as indicated in the economic survey. Positive global cues and better-than-expected results from major companies also contributed to the upward trend. Market expects reductions in individual tax and job generation to boost consumption.