Opening Bell: Nifty above 17,300, Sensex surges over 600 points; tech shares gain

The Indian markets started Monday on a high note after seeing a flat closing on Friday. The broader Nifty50 gained over 1 per cent to start above 17,300 and the Sensex jumped over 600 points to open abover 57,800 on Monday, a day before Budget 2022 to be presented by Union Finance Minister Nirmala Sitharaman on February 1.  The two indices opened at17,301.05 and 57,845.91 respectively.  

Wipro, Infosys, Bajaj Finance, HCL Tech, ONGC, Tech Mahindra, Asian Paints and Tata Steel were top gainer on Monday
 

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In the pre-open, the Sensex surged more than 600 points to 57,845.91 as 29 stocks advanced and one declined on the 30-share index.  
 
SGX Nifty too hinted at a positive opening for the Indian equity markets as the futures index was trading more than 1 per cent or over 170 points higher to 17,269.50 around 9 am on Monday.  
 
Earlier,  Prashanth Tapse, Vice President (Research) at Mehta Equities Ltd, said Markets are likely to roar back to life —— thanks to Wall Street’s Friday’s raucous Apple inspired rally. “Having said that despite today's improvements, January is likely to finish as a downright lousy month for Indian equities due to negative catalysts such as hawkish Fed's near-term rate hikes followed by a reduction of its $9 trillion balance sheet and selling by the FII camp. All eyes will now be on the GDP numbers and the Union Budget to be announced on February 1,” he said.