Business

Indian Stock Markets Open Higher Ahead Of Anticipated Union Budget

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.

Also Read: SBI Increases MCLR, Impacting Loan Rates Effective 15 July

Mankrit Kaur

Recent Posts

Kisan Credit Card Scheme A Lifeline For Indian Farmers: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Saturday described the Kisan Credit Card (KCC) scheme as a…

1 hour ago

Trump Administration Shuts Down Controversial ‘Quiet Skies’ Surveillance Program

The Trump administration has officially shut down the ‘Quiet Skies’ passenger surveillance program, a covert…

2 hours ago

PM Modi Likely To Visit Bengal For Twin Programmes On June 20

Prime Minister Narendra Modi is likely to visit West Bengal later this month for two…

2 hours ago

Elon Musk Hints At Launching ‘The America Party’ As Political Rift With Trump Widens

Elon Musk has sparked speculation about founding a new political outfit named 'The America Party'…

2 hours ago

Trump Set to Sell His Tesla Car As Clash With Elon Musk Escalates

US President Trump is reportedly planning to sell his Tesla car, purchased in March to…

2 hours ago

Musk-Trump Fallout Threatens NASA And Pentagon Operations: Report

A recent fued between Elon Musk and former US President Donald Trump has raised serious…

3 hours ago