On Tuesday, Indian benchmark indices kicked off the trading session on a strong note, buoyed by optimism surrounding the forthcoming Union Budget, likely to be unveiled next week.
Prominent stocks such as Adani Enterprises, Coal India, Mahindra & Mahindra (M&M), Bharti Airtel, and Tata Steel led the gains on the Nifty index during the initial trades.
The Sensex opened over 160 points higher, reaching 80,839, while the Nifty climbed more than 50 points to touch 24,643.
Market analysts indicate that the coming days will see traders closely monitoring budget proposals, with expectations of a growth-centric yet fiscally responsible approach from the government.
“Growth remains the government’s top priority, and they are unlikely to compromise on this front,” emphasized market experts.
Vaishali Parekh, VP of Technical Research at Prabhudas Lilladher, noted that the Nifty has been steadily gaining momentum, positioning itself for an initial target of 24,900.
“With active participation from mid-cap and small-cap stocks, the market’s undertone remains positive, suggesting further upward movement,” she added.
The positive sentiment surrounding the upcoming budget, robust inflows from foreign institutional investors (FIIs), and stronger-than-expected earnings from the IT sector largely drive the sustained upward trajectory of Indian indices.
As the market braces for the budget announcements, investor confidence appears to be on a steady rise.
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