Market Update: Frontline indices rise around 1.5% intraday as FM starts Budget 2022 presentation

Showing strength for the second straight session, the Indian markets on the Budge-day is extending gains, as Sensex jumped almost 900 points and Nifty50 above 17500-mark. The Budget 2022-23 is scheduled to be presented on Tuesday at around 11:00 am by finance minister Nirmala Sitharaman. 

At around 10:34 am, the BSE Sensex is up over 841 points or 1.40 per cent to 58828-mark, while Nifty50 surged over 242 points or 1.40 per cent to 17582-level intraday today. In the broader markets, both Nifty mid and small-cap indices are up around 1 per cent intraday. 

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As many as 43 stocks are in the green and 7 in the red on Nifty50 intraday. Sun Pharma is leading most by over 4.5 per cent, followed by Britannia up over 4 per cent, while IndusInd Bank is gaining over 3 per cent intraday today. 

While other stocks such as ICICI Bank, Tata Steel, HDFC Life, Hindalco, L&T, Axis Bank, HDFC each up between 2-3 per cent intraday today. Besides, around 16 heavyweights, including HDFC Bank, Reliance Industries are surging between 1-2 per cent intraday today. 

On the contrary, oil marketing company such as Indian Oil Corporation and Bharat Petroleum Corporation Limited on the back of below than expected results slipped by around 3 and 2 per cent respectively in intraday today.  

Tata Motors shares too slipped by over 1 per cent as the company reported loss in Q3 earnings as compared to profit during a year ago quarter. ONGC, Dr Reddy, Bajaj Auto and Power Grid are other stocks that are in red zone intraday. 

Sectorally, all indices are in the green with Nifty Financial Services and Pharma are soaring most by almost 2 per cent each, followed by Nifty Bank and Nifty Realty also up around 2 per cent intraday. While Nifty IT, FMCG and PSU Bank indices are up around 1 per cent intraday today.