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Benchmark indices have started the trading session on a higher note ahead of interim budget. By 9:30, the Sensex was higher by 95 points at 20,462 mark and the Nifty gained by 28 points at 6,077 levels.
Finance Minister P Chidambaram will present the Vote on Account or interim budget for the first four months. The objective of a Vote on Account is to get Parliament's nod for expenditure to be incurred in the months prior to elections.
On the global front, Asian shares extended their recent rally on Monday as worries about emerging markets continued to ebb, dragging down the US dollar while giving commodities a lift.
Stocks across the region felt the benefit with MSCI's index of Asia-Pacific shares outside Japan up 0.8%, bringing its gains to almost 6% in eight sessions. Indonesia's market added 0.8%, as did the Philippines.
Meanwhile, foreign institutional investors (FIIs) sold shares worth a net Rs 15.86 crore on Friday, 14 February 2014, as per provisional data from the stock exchanges.
On the sectoral front, BSE Consumer Durables and Auto indices have gained by nearly 1% each. Sectors like Banks, Capital Goods, Realty, Power, IT and Healthcare have gained between 0.1-0.4%. However, BSE Metal index has declined by nearly 1%.
The main gainers on the Sensex at this include Tata Motors, Tata Power, ONGC, HDFC Bank, Dr Reddy’s Labs, Bajaj Auto, Bharti Airtel, HDFC and L&T.
On the losing side, Coal India, BHEL, SBI, M&M and GAIL have declined between 0.1-1%.
The broader markets are under performing the benchmark indices- BSE Midcap and Smallcap indices have gained by 0.1%.
The market breadth in BSE remains positive with 638 shares advancing and 447 shares declining.
