The benchmark Bombay Stock Exchange (BSE) index Sensex surged 114 points, continuing its rising streak for the seventh straight session, and the National Stock Exchange (NSE) Nifty regained the 8,900-mark in early trade on Thursday as participants indulged in enlarging positions ahead of Budget.
Brokers said, market sentiments remained upbeat as funds and retail investors indulged in enlarging positions on expectations that the upcoming Budget may be growth-oriented, leading to acceleration in economic reforms by the government.
Besides, a better trend at other Asian markets after relatively upbeat Japanese trade data and cautious optimism over a solution to the Greek debt standoff, influenced domestic trading sentiment, they said.
The 30-issue BSE index spurted by 114.65 points (or 0.39 per cent), to trade at 29,434.91 with consumer durables, realty, auto, oil & gas and banking sector stocks, leading the rise. The Sensex had rallied by 1,092.84 points in previous six sessions.
The broader 50-share NSE index Nifty regained the 8,900-mark after three weeks by rising 32.60 points (or 0.36 per cent), to 8,901.70.
Major gainers that supported the key market indices were Cipla, Maruti Suzuki, Bharti Airtel, Hero Motocorp, M&M, Tata Motors, Sun Pharma, Infosys, HDFC, ONGC, TCS, Tata Steel, RIL and Hindustan Unilever.
Among other Asian markets, Japan’s Nikkei gained 0.46 per cent in early trade, while Hong Kong’s market will remain closed on Thursday.
The US Dow Jones Industrial Average ended 0.10 per cent lower in Wednesday’s trade.
Meanwhile, domestic currency derivatives markets will remain closed on Thursday on account of ‘Chhatrapati Shivaji Maharaj Jayanti’.