Indices Firm Ahead Of Union Budget 2022; Nifty Settles Higher By 238 Pts.

Indian headline indices in trade just ahead of the crucial Budget day has ended firm. The Economic Survey revealed today points that the economy is well placed to face the challenges going ahead. Bank Nifty as well as the broader markets have been gaining, breaking the last 2-week's losing streak in the wake of the Fed's tapering call.

Tech Mahindra, Tata Motors, Wipro, BPCL, Bajaj Finserv have emerged as the top Nifty gainers, while laggards have been IndusInd Bank, Kotak Mahindra Bank, UPL, Coal India and HUL.

Among Nifty sectoral indices, Nifty PSU Bank, Nifty Realty and Nifty IT stole the limelight gaining more than 3 percent during the session. IT has been trading on the upside from the early trade, while Nifty PSU Bank gradually gained to such levels. From the latter pack, 2 stocks namely Canara Bank and Bank of Baroda hit fresh 52-week high, while SBI traded close to its 52-week high price of Rs. 542.3 per share.

Budget 2022 is likely to be spur and continue with the growth momentum with push given to all of the sectors. The sectors to be seen bucking the trend on likely push may be infra, capital goods, realty, auto among others.

Meanwhile, European indices have also been trading higher, with German DAX up by over 1 percent.

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