Benchmark indices touched all-time highs on Wednesday on hopes of strong measures in the upcoming budget on July 10.
The BSE benchmark, the Sensex touched all-time high of 25,789.42 points, while the NSE's Nifty touched all-time high of 7711.50 points. The 30-share Sensex was trading 0.85% or 217.08 points higher at 25,733.43 points, while Nifty was trading 65.30 points or 0.86% higher at 7,700 points, at 11.00 am IST.
Experts believe the Narendra Modi government is likely to present a pro-growth Budget. "Our equity strategists expect the government to propose a pro-growth budget focused on four themes: long-term improvement in fiscal position, improving the investment climate in the country, controlling inflation and tax reforms," Barclays said in a report.
Among sectoral indices, BSE Metal (1.5%), BSE Capital Goods (1.3%) and BSE Realty (1.2%) and BSE Consumer Durables (1.2%) were the major gainers on Wednesday. Among individual stocks, Sesa Sterlite (2.8%), Coal India (2%) and HDFC (1.8%) were the major gainers on the 30-share Sensex.
Most Asian indices were trading in the green. The Nikkei (0.3%), Hang Seng (1%), Kospi (0.6%), Straits Times (0.4%), Shanghai Composite (0.1%) and Taiwan Taiex (0.5%) were the major gainers.