BSE Sensex soars close to a 40,000 mark and the NSE Nifty inched closer to 12,000 level ahead of the Union Budget presentation. Nirmala Sitharaman will be seen presenting her first budget for the year today.
The 30-share index was trading 114.67 points, or 0.29 per cent, higher at 40,022.73 at 0930 hours. Similarly, the broader Nifty was quoting 31.85 points, or 0.27 per cent, up at 11,978.60.
“The market is eagerly looking forward to the budget proposals, especially for those things that matter for speedy recovery or revival in growth and employment,” said K Joseph Thomas – Head of Research, Emkay Wealth Management to PTI.
“Response from the market would depend to a large extent on the measures to enhance agrarian employment and productivity, and thereby demand,” he added.
IndusInd Bank, L&T, HUL, Kotak Bank, HDFC, Asian Paints, Bajaj Auto and RIL, gained in the early trade.
Yes Bank, ONGC, Vedanta, NTPC, Tata Motors, Hero MotoCorp, ITC, Bharti Airtel and TCS saw lose in the game.
On the currency front, the Indian rupee depreciated 16 paise to 68.66 against the US dollar.