After witnessing record gains on the Budget day, domestic stock markets seem to sustain the gains, according to trend emanated from SGX Nifty at Singapore. The SGX Nifty is currently hovering with a 100-point gain at 14,470 over Nifty Monday’s close of 14,394.30. Asian markets and overnight US markets also present a bullish view.

Most Asian markets such as Japan, Australia, China, Hong Kong and Korea are in green with a gain in the range of 0.5-2 per cent. The Dow, S&P 500, and Nasdaq ended with a gain of 0.76, 1.61 and 2.55 per cent respectively.

However, according to marketmen, the focus will be on banking and finance stocks, as they stole the limelight on Monday on the back of positive Budget proposals.

Bank Nifty opened gap up and saw the index touching its zenith at life time high levels of 33,305. The banking index registered its highest intraday gains and closing with gains of more than 2,500 points. Most analysts expect the rally to continue.

The Finance Minister announced setting up of an Asset Reconstruction Company. She further introduced a plan to recapitalise public sector banks. The government had also announced the intention to privatise two state-run lenders.

Result Calendar: Ajanta Pharma, Bajaj Steel, Balrampur Chini Mills, Carborundum Universal, Cera Sanitaryware, Dhampur Sugar Mills, Dixon Technologies, Escorts, HDFC, IIFL Wealth Management, Intellect Design Arena, Neuland Laboratories, NOCIL, PI Industries, Tata Consumer Products, Vinati Organics and Wonderla Holidays are among 69 companies to announce their quarterly earnings.

Stocks to watch

Power Grid Corporation has been declared as the successful bidder for Transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan. The Transmission system comprises establishment of a new 765/400kV Substation, 765kVD/C and 400kV D/C Transmission lines and associated Substation extension works in the State of Rajasthan

Suzlon Energy: The board has approved allotment of 8.46 crore shares of the company on conversion of 9,221 $-denominated convertible bonds due 2032 having a face value of $320 each at a conversion price of ₹2.61 a share. Post aforesaid allotment, the paid-up capital of the company increased to ₹1,689.86 crore.

Zensar Technologies, a leading digital solutions and technology services company, announced the launch of its integrated Digital XDR (extended threat detection response) solution as part of its Digital Foundation Services offerings.

IPO watch

Indigo Paints: Shares of Indigo Paints will be listed on the bourses today, after successful completion of public issue. The IPO saw an overwhelming response from all category of investors with receiving bids for 117 times. The ₹1,170-crore initial public offer came out at a price band of ₹1,488-1,490 a share.

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