Sensex closes with gains, Nifty may head to 17900-18000

Sensex cheered Union Budget 2022 presented by the Finance Minister earlier today. Headline indices and broader markets dipped post FM’s speech but the dip was bought by investors helping Sensex, Nifty close near day’s high. S&P BSE Sensex zoomed 848 points or 1.46% to settle at 58,862 while NSE Nifty 50 index closed 237 points or 1.37% higher at 17,576. Tata Steel was up 7.5% while Sun Pharma was up 6.94%, followed by IndusInd Bank, Larsen & Toubro, and Ultratech Cement. Mahindra & Mahindra was the top drag, down 1.3%. Power Grid Corporation, State Bank of India, and NTPC were the other top laggards.

Source:FE