Sensex, Nifty, rupee react favourably ahead of Budget

February 01, 2017 10:09

The markets rose by over 64 points in opening trade today as investors built up positions ahead of the Union Budget, which is expected to be unveiled at 11 am.

The rupee appreciating 24 paise to 67.63 against the dollar added to the positivity.

The 30-share BSE index, which had lost 226.50 points in the previous two sessions, recovered 64.15 points, or 0.23 per cent, to 27,720.11.

Similarly, the NSE Nifty moved up 21.90 points, or 0.26 per cent, to 8,583.20.

Fresh positions created by retail and domestic institutional investors on the hopes of an investor-friendly budget lifted market sentiments.

Realty, PSU, oil and gas, capital goods, consumer durables and banking stocks were lapped up, accounting for much of the gains.

How will the markets react later in the day? Let's wait and watch.

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