Here's Your 10-Point Cheatsheet To This Big Story:
Mid- and small-cap shares were positive as Nifty Midcap 100 index was up 1.57 per cent and small-cap shares were trading 1.03 per cent higher.
On the stock-specific front, Tech Mahindra was the top Nifty gainer as the stock surged 4.28 per cent to Rs 1,471. BPCL, Wipro, Infosys and Reliance Industries were also among the gainers. In contrast, IndusInd Bank, Kotak Mahindra Bank, UPL, HDFC Life and Coal India were among the losers.
The overall market breadth was strong as 1,934 shares were advancing while 1,474 were declining on BSE.
On the 30-share BSE platform, TechM, Wipro, Infosys, RIL, Dr Reddy's and Bajaj Finserv attracted the most gains with their shares rising as much as 4.31 per cent.
"We are mostly mirroring the U.S. market's strong close on Friday, but sustaining those gains will be tough considering that we have the budget tomorrow. We think it would be prudent to limit positions," Ajit Mishra, Vice-President, research at Religare Broking, told news agency Reuters.
"As of now, indications are that we may see some more consolidation post the budget, as foreign investor data is not too encouraging," Mr Mishra added.
Foreign investors have sold off heavily in the run-up to the budget, where analysts expect additional fiscal measures to boost demand amid the third wave of Covid-19.
Meanwhile, AGS Transact Technologies dropped as much as 5.1 per cent in its market debut.
Also, Tata Motors, Indian Oil, BPCL, Sun Pharma and UPL will report their results later in the day.
Sensex had slipped 77 points or 0.13 per cent to close at 57,200 on Friday (January 28), while the broader Nifty had settled 8 points or 0.05 per cent lower at 17,102.