Stock Market Soars Ahead of Budget Presentation
Mumbai, [Date]: The Indian stock market opened on a positive note today as investors eagerly awaited the presentation of the Union Budget 2023-24. The benchmark Sensex index surged over 200 points to cross the 60,000 mark, while the Nifty 50 index climbed above 24,500.
At the start of trading, the Sensex jumped by over 150 points, fueled by positive global cues. The rise was led by gains in sectors such as metal, banking, and finance. By late morning, the Sensex had extended its gains to over 200 points, touching a high of 60,200.
The Nifty 50 index also followed suit, rising by over 60 points to reach 24,550. The broader market also witnessed a surge, with the Nifty Midcap 100 and Nifty Smallcap 100 indices gaining over 1% each.
Analysts attributed the market’s positive sentiment to expectations of a growth-oriented budget that could provide a boost to the economy. Investors are hopeful that the government will announce measures to support sectors such as infrastructure, manufacturing, and agriculture.
The market’s performance today suggests that investors are cautiously optimistic about the outcome of the budget. However, analysts caution that volatility is likely to remain high until the actual details of the budget are revealed.
