Stocks hit Best Single Day Gain Ahead Of Interim Budget

Two Indian benchmarks – Sensex, Nifty – posted striking gains on the expiry day of Future and Option (F&O) and ahead of the interim Budget which to be declared tomorrow, the first February 2019. High Intraday volatility experienced in trade due to the F&O contract’s January series expiry today, 31-Jan-19.

The BSE Sensex reached at the pinnacle up 665.44 points at 36,256.69, while broader Nifty50 was up 179.20 points at 10,831.  

Axis Bank, GAIL India, Infosys, Titan and Tata Motors are among major gainers on the Nifty, while losers are Yes Bank, Zee Entertainment, Bajaj Finserv, Indiabulls Housing Finance and HCL Technologies.

All the sectoral indices of the NSE, except Nifty media, ended in green led by Nifty Bank, PSU bank, Private bank, Financial Service, IT,  Metal, Auto, Pharma  and FMCG in rising sequence.

Among buzzing stocks, Bharti Airtel Ltd advanced 0.72% ahead of its Oct-Dec 2018 quarterly result to be released later today. Hero MotoCorp also rose 0.50 percent ahead of its result declaration today.

Shares of Larsen and Toubro (L&T) rose 1.07% at 1,308.30, after its wholly owned subsidiary L&T Hydrocarbon has won two massive orders from Indian Oil Corp.

Further, investor’s attention will focus on interim budget presentation tomorrow. The government is expected to make a number of political approaches that strives to appeal to ordinary people that may contain tax concessions and a certain package for the farm sector.