Sensex surged over 400 points in the opening trade at BSE ahead of the Union Budget 2021 presentation on Monday. After opening 443 points higher in the opening trade, Sensex was trading at 46,463, up by 177.23 points.
NSE's Nifty opened 114.85 points higher at 13,749.45 and is trading at 13,683.05, up by 48.45 points (0.36%).
On the Sensex chart, IndusInd Bank, ICICI Bank, HDFC, ONGC, Titan and HDFC Bank were prominent gainers. Of the Sensex constituents, 16 shares were trading in the green.
On Friday, the Sensex had closed 588.59 points or 1.26 per cent lower at 46,285.77, and the Nifty had settled 182.95 points or 1.32 per cent down at 13,634.60.
Over the previous six sessions, the Sensex has lost 3,506.35 points or 7.04 per cent, and the Nifty has shed 1,010.10 points or 6.89 per cent.
Finance Minister Nirmala Sitharaman will present the Union Budget 2021-22 in Parliament on Monday. She is expected to provide relief to the pandemic-hit common man as well as focus more on driving the economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours.
Market experts and economists are of the view that this budget will be critical in terms of picking up the pieces after the economic destruction caused by the COVID-19 pandemic.
Foreign portfolio investors (FPIs) offloaded shares worth a net Rs 5,930.66 crore on Friday, according to exchange data.
Elsewhere in Asia on Monday, stock markets were in recovery mode in afternoon session, after four sessions of losses.
The global oil benchmark Brent crude futures rose 0.32 per cent to USD 55.38 per barrel.
(With PTI inputs)