Bulls roar on D-Street. Pre-Budget rally, short covering or tech pullback?

Analysts say the up move seen on Monday is on account of a host of factors, including good corporate results over the past few days, positive global cues and a build-up ahead of Budget 2022

Markets started the budget week with a bang as the S&P BSE Sensex surged nearly 800 points to 57,975 levels, while the Nifty50 index moved up 237 points to 17,339 levels in intra-day deals. It, however, trimmed gains as the day progressed. The up move comes a day ahead of the Union Budget presentation for financial year 2022-23 (FY23).

Over the past few sessions, the markets have been on a roller-coaster ride in the backdrop of the US Federal Reserve (US Fed) indicating a sooner-than-expected rise