Mumbai. Ahead of the presentation of the Union Budget for the financial year 2022-23 in Parliament, the Sensex climbed over 600 points in early trade on Tuesday, while the Nifty rose by 159 points. During this period, the 30-share index was trading 603.39 points or 1.04 per cent higher at 58,617.56, while the Nifty gained 159.25 points or 0.92 per cent to 17,499.10. IndusInd Bank was the biggest gainer of 2.45 percent in the Sensex.
Apart from this, ICICI Bank, HDFC Twins, Sun Pharma, Infosys, Kotak Bank and Bajaj Finserv were also among the top gainers. On the other hand, ITC and POWERGRID were in the red. Finance Minister Nirmala Sitharaman will present the Union Budget 2022-23 in Parliament today. In the previous session, the Sensex closed at 58,014.17, up 813.94 points, or 1.42 per cent. Similarly, NSE’s Nifty gained 237.90 points or 1.39 per cent to close at 17,339.85 points.
The Economic Survey tabled in Parliament on Monday said that India’s economy is in a better position to achieve an economic growth rate of 8-8.5 percent in the next financial year. Deepak Jasani, Head of Retail Research, HDFC Securities, said that many Asian markets, including China and South Korea, are closed on Tuesday due to the Lunar New Year holiday. Meanwhile, international oil benchmark Brent crude rose 1.31 per cent to $91.21 a barrel. Foreign institutional investors (FIIs) were net sellers in the capital market on Monday, selling shares worth Rs 3,624.48 crore, according to provisional data from the stock market.