Markets have shown gains in the run up to the budget, with the indices recording nearly 1% gain. Banking stocks along with IT, telecom and capital goods stocks have seen rises.
At 9:52 AM, the Nifty is at 5412, up by 62 points or 1.15%. Asian markets are also trading up.
SBI has continued its upward movement and has seen a hike of 1.4%. ICICI Bank has moved up by 1.3%. PNB has also moved up by 1.3%. HDFC Bank has gained 0.8%.
Punj LLoyd has shown smart gains of over 3.3%. L&T is also up by 1.9%. JP Associates has managed to gain 2.8%.
Metal names like Jindal steel, Tata steel, SAIL and Hindalco – have all gained over 1.5% each.
Some of the telecom stocks including RCOM and Idea cellular have also gained. Maruti, from the auto space, is up by 2.5%. Hero Motors is up by 1.7%.
Midcap stocks have also been performing well in the trade today. HDIL has moved up by 3.5%. Crompton Greaves is up by 4%.