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Domestic markets were trading in fine fettle in noon deals as a sharp fall in global crude prices and foreign fund inflows boosted investors' sentiment. Sentiments remained upbeat after eight core infrastructure industries grew 5.8 per cent in February 2022 as against a contraction of 3.3 percent in the year ago month, propped up by the low base effect and strong performance in steel, cement, coal, natural gas, refinery products and electricity segments. Traders also got some support with report that the Maharashtra government decided to lift all curbs and restrictions imposed in the state in the wake of Covid 19 from April 2. Traders also took note of report that that the Centre's fiscal deficit at the end of February stood at 82.7 per cent of the full year budget target, mainly on account of higher expenditure. In the last financial year, the fiscal deficit or gap between the expenditure and revenue was 76 per cent of the Revised Estiamate (RE) of 2020-21.

The BSE Sensex is currently trading at 58785.97, up by 217.46 points or 0.37% after trading in a range of 58450.04 and 58879.25. There were 23 stocks advancing against 7 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index surged 1.01%, while Small cap index was up by 1.45%.

The top gaining sectoral indices on the BSE were PSU up by 2.30%, Utilities up by 2.22%, Power up by 2.13%, Realty up by 1.54% and Telecom was up by 1.54%, while TECK down by 0.27%, IT down by 0.21% were the only losing indices on BSE.

The top gainers on the Sensex were NTPC up by 4.59%, Power Grid Corporation up by 3.02%, Indusind Bank up by 2.96%, SBI up by 1.87% and HDFC Bank up by 1.65%. On the flip side, Titan Company down by 0.98%, Tech Mahindra down by 0.94%, Infosys down by 0.81%, Sun Pharma down by 0.78% and ICICI Bank down by 0.57% were the top losers.

Meanwhile, the data released by the Controller General of Accounts (CGA) has indicated that the Centre's fiscal deficit at the end of February stood at 82.7 per cent of the full year budget target, mainly on account of higher expenditure. In the last financial year, the fiscal deficit or gap between the expenditure and revenue was 76 per cent of the Revised Estiamate (RE) of 2020-21. 

In actual terms, the deficit stood at Rs 13,16,595 crore at the end of February this year. The central government's total receipts stood at Rs 18.27 lakh crore or 83.9 per of the RE of Budget 2021-22. It was 88.2 per cent of the RE of 2020-21 in the corresponding period.

The government's total expenditure was at Rs 31.43 lakh crore or 83.4 per cent of the financial year's (FY22) RE. It was 81.7 per cent of RE in the corresponding period last financial year. The government expects the fiscal deficit to be at 6.9 per cent of the GDP or Rs 15.91 lakh crore in the financial year ending March 31, 2022.

The CNX Nifty is currently trading at 17524.85, up by 60.10 points or 0.34% after trading in a range of 17422.70 and 17556.75. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were NTPC up by 4.52%, Power Grid Corporation up by 3.21%, BPCL up by 3.09%, Indusind Bank up by 2.95% and HDFC Life Insurance up by 2.07%. On the flip side, Hero MotoCorp down by 2.80%, SBI Life Insurance down by 1.82%, Divi's Lab down by 1.30%, Hindalco down by 1.15% and Titan Company down by 1.00% were the top losers.

Asian markets are trading mostly in red; Nikkei 225 slipped 155.45 points or 0.56% to 27,665.98, Hang Seng lost 85.28 points or 0.39% to 21,911.57, Taiwan Weighted declined 67.88 points or 0.38% to 17,625.59, KOSPI fell 17.80 points or 0.65% to 2,739.85 and Jakarta Composite was down by 10.46 points or 0.15% to 7,060.98. On the other hand, Shanghai Composite rose 27.04 points or 0.83% to 3,279.24 and Straits Times was up by 12.92 points or 0.38% to 3,421.44.

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