Sensex Surges on Budget Day
Mumbai: The Indian stock market opened sharply higher on Monday, ahead of the Union Budget presentation. The benchmark Sensex jumped by over 200 points, while the broader Nifty50 index crossed the 24,500 mark.
Driven by positive sentiment, the Sensex opened at 61,173.93, up 205.37 points from its previous close. The index continued to trade in the green throughout the morning session. At 10:30 AM, the Sensex stood at 61,318.23, a gain of 243.67 points or 0.4%.
Similarly, the Nifty50 index opened at 17,350.70 and quickly climbed above the key psychological level of 24,500. By 10:30 AM, the Nifty was trading at 17,414.40, a rise of 67.25 points or 0.39%.
The rally in the market was supported by gains in heavyweight stocks. Reliance Industries, the country’s largest company by market capitalization, rose by 1.2%. HDFC Bank and ICICI Bank, two of the largest lenders, also gained over 1%.
Investors are eagerly anticipating the Union Budget, which will be presented by Finance Minister Nirmala Sitharaman later today. The budget is expected to provide clarity on the government’s economic and fiscal policies for the upcoming year.
