Budget 2022: Trends on SGX Nifty also indicated a positive start for the markets.New Delhi: The domestic equity indices on Tuesday traded higher in early trade with focus on the Union Budget 2022-23 presentation.
Asian share markets traded on a higher note as Japan's Nikkei was up 0.71 per cent and South Korea's KOSPI surged 1.87 per cent.
Trends on SGX Nifty indicated a positive opening for the markets back home.
The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures jumped 126.25 points or 0.73per cent to 17,494.The benchmark BSE Sensex and broader NSE Nifty had clocked gains on Monday led by buying across all sectors.
The 30-share BSE index had surged 814 points or 1.42 per cent to settle at 58,014; while the broader NSE Nifty had moved 238 points or 1.39 per cent to close at 17,340.Investor sentiment remained positive as the Economic Survey projected that India's economy will grow at 9.2 per cent in the current fiscal year 2021-22.The economy had contracted by 7.3 per cent in 2020-21 on account of the impact of the Covid-19 pandemic and subsequent nationwide lockdowns to check the spread of coronavirus.Analysts had predicted that the domestic indices could rise on the Budget Day as the presentation may see a strong spending push to further lift the economic growth.Get TheIndianSubcontinent UpdatesTurn on notifications to receive alerts as this story develops.Markets updateAs of 10:25 am, Sensex soared more than 866 points or 1.46 per cent to58,880, while Nifty moved 244 points or 1.41 per cent to17,584.Britannia, Sun Pharma, IndusInd Bank, ICICI Bank and HDFC Life were among the top gainers.
Stock Market India: Sensex Surges Over 500 Points Ahead Of Budget, Nifty Above 17,500; ICICI Bank, Infosys Among Top GainersThe Indian equity benchmarks on Tuesday traded higher in opening deals led by gains in banking and information technology stocks with the Union Budget 2022-23 presentation in focus.Market openingThe benchmark BSE Sensex jumped 530 points or 0.91 per cent to 58,544 in opening deals, while the broader NSE Nifty moved 189 points or 1.09 per cent higher to 17,529.Pre-opening tradeSensex rose 630 points or 1.09 per cent to 58,644 in pre-opening deals.Stocks To Watch: Tata Motors, Sun Pharma, Tech Mahindra, Indian Oil CorpThe domestic stock indices are likely to trade in green on Tuesday ahead of the Union Budget 2022-23 presentation.