Stock Market Gains Ahead Of Budget, Nifty Reaches Above 17,300

Stock market gains ahead of budget, Sensex jumps over 700 points, Nifty reaches above 17,300.

Sensex climbed 712 points in early trade on Monday due to positive trends in Asian markets and gains in Wipro, Bajaj Finance, Infosys.

The Sensex was trading 712.61 points or 1.25 percent higher at 57,912.84 in early trade. Similarly, Nifty was trading at 17,318.90 with a gain of 216.95 points or 1.27 percent.

Meanwhile, Finance Minister Nirmala Sitharaman will present the Economic Survey 2021-22 today.

Tech Mahindra was the top gainer in the Sensex, rising 2.85 percent, followed by Wipro, Bajaj Finance, Asian Paints, Bajaj Finserv, UltraTech Cement, and Infosys.

On the other hand, NTPC, IndusInd Bank, and L&T were among the laggards. In the previous session, the 30-share BSE index ended 76.71 points or 0.13 percent lower at 57,200.23.

Similarly, the NSE Nifty closed at 17,101.95, down 8.20 points or 0.05 percent.

On the other hand, Hong Kong and Tokyo shares were trading with gains in mid-session deals. Markets in China and South Korea are closed for the holiday.

Meanwhile, international oil benchmark Brent crude rose 1.31 percent to $91.21 a barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital markets on Friday, pulling out Rs 5,045.34 crore, according to provisional data.

Stock market gains ahead of budget: Rupee strengthens 15 paise against US dollar in early trade.

The rupee saw gains in early trade on a positive trend in the domestic equity market. The rupee on Monday gained 15 paise to 74.92 against the US dollar.

A firming US currency and higher crude oil prices limited the gains in the rupee.

In the interbank foreign exchange market, the rupee opened at 74.97 against the US dollar, then gained some more to 74.92, showing a gain of 15 paise.

The rupee had closed at 75.07 against the dollar in the previous session.

Anil Kumar Bhansali, Head of Funds at Finrex Treasury Advisors, said the rupee is expected to remain in the range of 74.80 to 75.40 before the presentation of the Union Budget on Tuesday.