Budget 2022: Sensex Rises 740 Points, Nifty At 17,543

Budget 2022 Sensex Stock Market Live: Bulls marched on Dalal Street as key equity benchmarks rallied on Monday after economic survey said Indian economy is well placed to take on challenges of 2022-23

ICICI Bank was the top Nifty gainer as the stock surged 2.64 per cent to Rs 809.60. Infosys, IndusInd Bank, HDFC and Britannia were also among the gainers. Image: Getty

New Delhi: The 30-share BSE Sensex climbs 740 points to 58,731, while the NSE Nifty is at 17,543, up by 203 points.

A day ahead of the Union Budget, bulls marched on Dalal Street as the key equity benchmarks rallied on Monday after the economic survey said that the Indian economy is well placed to take on the challenges of 2022-23.

Union Budget 2022-23 is presented in the parliament by Finance Minister Nirmala Sithraman.

For investors, the Union Budget will be the key issue on Tuesday.

A day before the Budget on Monday, the BSE Sensex rose around 1,000 during intraday trade on short covering.

The 30-share Sensex platform surged 814 points to settle at 58,014, while the broader NSE Nifty moved 238 points to close at 17,340, on Monday.

In the broader markets, the BSE Midcap and Smallcap indices advanced 1.7 per cent and 0.9 per cent, respectively.

Investor sentiment remained positive as the Economic Survey projected that India's economy will grow at 9.2 per cent in the current fiscal year 2021-22.

On the stock-specific front, ICICI Bank was the top Nifty gainer as the stock surged 2.64 per cent to Rs 809.60. Infosys, IndusInd Bank, HDFC, and Britannia were also among the gainers.

All sector gauges, compiled by the NSE, settled in green. Nifty PSU Bank and Nifty IT outperformed the index by rising as much as 2.94 percent and 2.87 percent, respectively.

IT stocks such as Tech Mahindra (up 5 percent), Wipro, Infosys, and HCL Tech; financials stocks such as Bajaj twins, SBI, and index heavyweights Reliance Industries and Bharti Airtel are the prominent gainers.

On the flip side, shares of IndusInd Bank were the worst hit among the lot, down 3.5 percent, on profit booking after Q3 results. Kotak Bank, HUL, and Tata Steel were the other losers on the Sensex.

Finance Minister Nirmala Sitharaman will present the Union Budget in the Lok Sabha today at 11 am.

The ministry has said that Finance Minister Nirmala Sitharaman will present the Union Budget 2022-23 on February 1 in a paperless form. The ministry also said that the Budget will be available on Mobile App after it is presented in Parliament.

On Monday, the finance minister tabled the Economic Survey that details the state of the economy in Parliament. The survey projected a growth rate of 8 - 8.5 percent in 2022-23.