Sensex Gains Over 1,000 Points As Govt Tables Economic Survey; Nifty Realty Shines

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Sensex Gains Over 1,000 Points As Govt Tables Economic Survey; Nifty Realty Shines
Credit: © Reuters.

By Malvika Gurung -- The Budget week kicked off with the Indian benchmark equity indices opening higher, as the Government tables the Economic Survey on Monday, while tracking positive global cues and broad-based buyings.

Nifty50 opened 1.17% higher and the 30-scrip BSE Sensex opened 1.16% in green on Monday. At 1:21 pm, Nifty and Sensex were trading 1.57% and 1.8%, or 1,032.76 points higher, respectively.

The market will closely watch the important economic figures emerging from the Economic Survey and Budget session, along with auto sales information, manufacturing readings and PMI surveys, besides the latest Covid updates.

At the time of writing this report, 90% of the stocks listed on Nifty50 and Sensex were trading in the green, with IndusInd Bank (NS: INBK ) being the biggest laggard, trading 3.38% lower.

By 12:30 pm, investors on Dalal Street had added Rs 4 lakh crore to their wealth.

All the sectoral indices on the Nifty basket were trading in green, with Nifty Realty taking over Nifty IT’s position as the best performing index, up 3.1%, while Nifty IT gained 2.9%. All the stocks in the index were trading positive, with Mindtree (NS: MINT ) up 6.3% and Larsen & Toubro (NS: LART ) Infotech (NS: LRTI ), up 5.4%.

Nifty Bank gained 1.07%, while Nifty PSU Bank was trading 2.6% higher.

Meanwhile, industry heavyweights Tata Motors (NS: TAMO ), Sun Pharmaceutical Industries (NS: SUN ), Bharat Petroleum Corp (NS: BPCL ), and Indian Oil (NS: IOC ) are slated to release their earnings on Monday.

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