Mumbai, Feb 1: Ahead of the Union Budget 2018-19 presentation by Finance Minister Arun Jaitley in Parliament, the key Indian equity indices on Thursday traded with appreciable gains.
According to market observers, expectation of sops from the Union Budget, along with positive Asian markets and healthy buying in consumer durables, capital goods and banking stocks, lifted investors’ risk-taking appetite.
Around 10 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 63.35 points or 0.57 per cent at 11,091.05 points.
On the BSE, the barometer 30-scrip Sensitive Index (Sensex), which reclaimed the 36,000-mark at the opening, traded at 36,188.50 points — up 223.48 points or 0.62 per cent from its previous close.
The Sensex has so far touched a high of 36,226.97 points and a low of 36,021.88 points during intra-day trade.
The BSE market breadth was bullish with 1,495 advances and 636 declines.
“Indian indices opened in the green following Asian Indices which are trading in the positive territory,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Fertilisers, consumer durables, automobile, oil and gas, banking are among the key sectors which will be carefully watched ahead of Budget 2018-19 to be presented by Finance Minister Arun Jaitley later today,” he added.
On Wednesday, the benchmark indices closed in the negative territory on the back of negative global cues and heavy selling pressure in healthcare, consumer durables and capital goods stocks.
The Nifty50 fell by 21.95 points or 0.20 per cent to close at 11,027.70 points, while the Sensex closed lower by 68.71 points or 0.19 per cent at 35,965.02 points.