Equity benchmark indices jumped by nearly 3 percent during early hours on Tuesday as investors continued their positive reaction to the Union Budget amid strong global cues.
At 10:15 am, the BSE S&P Sensex was up by 1,312 points or 2.7 percent at 49,912 while the Nifty 50 edged higher by 390 points or 2.73 percent to 14,671.
All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty financial service gaining by 3.7 percent, private bank by 3.5 percent, PSU bank by 3.2 percent, and auto by 3.1 percent.
Among stocks, Tata Motors accelerated by 9.2 percent to Rs 305.50 per share while infrastructure major Larsen & Toubro too gained by 9 percent to Rs 1,559.10.
HDFC Bank moved up by 5.8 percent, Axis Bank by 4.2 percent, and State Bank of India by 4 percent.
The other major gainers were housing finance major HDFC, Bajaj Finance, UPL, Grasim, and Mahindra & Mahindra.
However, those who lost were Hero MotoCorp, HDFC Life, Hindustan Lever, and Dr. Reddy’s.
Meanwhile, Asian stock markets extended gains on increased optimism about stimulus packages and global economic recovery.
MSCI’s gauge of Asia Pacific stocks outside Japan was up by 1.25 percent mid-morning while Hong Kong’s Hang Seng Index and China’s benchmark CSI300 Index opened 1.7 percent and 0.33 percent higher respectively.
Japan’s Nikkei 225 gained by 0.67 percent and South Korea’s Kospi added 2.3 percent as the country’s ruling party readies another round of Covid-19 cash handouts and an extra budget.
