Indices Log Fresh Record Highs; Nifty Tops 13650 Levels

On positive global cues, Indian markets opened higher with indices logging fresh highs. Sensex traded higher by 296 points at 46570 and Nifty up by 86 points or 0.63 percent at 13653 at 9:19 am.

Among top gainers in early trade are M&M, Bajaj Finance, ONGC, Hindalco and Tata Motors, while losers include ICICI Bank and Dr. Reddy's Labs.

Indices Log Fresh Record Highs; Nifty Tops 13650 Levels

After FM Nirmala Sitharaman said Budget for FY22 would be focused on sustenance of high public expenditure on infra sector for reviving the overall Indian economy, real estate stocks shall likely be in focus.

Shares of M&M were in trade after the company announced a hike in prices from next month of all its vehicle range in order to make up for the rise in input cost.

Also, for the marketing year 2020-21, the Union cabinet may provide export subsidy amounting to Rs. 3600 crore to sugar mills in the meeting today and hence action in sugar stocks may be seen.

Meanwhile, Asian indices at the time of writing this copy was trading with strength with Japan's Nikkei up 0.22 percent and Hong Kong Hang Seng up 0.85 percent.

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