After a prolonged absence, foreign institutional investors (FIIs) returned as net buyers on Tuesday, acquiring Indian equities worth Rs 809 crore

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,838 level, a premium of nearly 53 points from the Nifty futures’ previous close.

Market experts believe that while the budget had some positive aspects, certain key areas did not meet expectations.

Indian benchmark indices The Sensex and Nifty surged in the second half of Tuesday, closing nearly 2 per cent higher after the US paused its planned tariffs on Canada and Mexico, providing temporary relief from escalating trade tensions.

On February 4, Indian stock market benchmarks Sensex and Nifty 50 gained over 1%, turning positive for the year, despite concerns about weak quarterly earnings and foreign capital outflows.