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“There are a whole host of spending measures but all of them do not have an equally sharp fiscal and growth impulse. I believe spending will be there, it will be back ended but it may not really have that growth impulse.”

On Monday, the RBI announced that it had carried out a gilt switch operation worth Rs 1.19 lakh crore — probably the largest ever such operation carried out by the central bank. Of this, around Rs 63,650 crores of debt are scheduled to mature in the next fiscal year.

ICICIdirect is expecting the Adani group company to report a 25.8 per cent YoY drop in profit at Rs 1,172.2 crore while it sees sales falling 8 per cent to Rs 3,445.5 crore. Topline fall is seen led by lower coal offtake -- elevated international prices and higher supply of domestic coal.

Brokerage firm Axis Securities is positive on stocks like Maruti Suzuki, Minda Corp, Polycab India, Canfin Homes, SBI Life, KNR Construction, HG Infra, Welspun India, Dalmia Bharat for Budget play.

"Gold prices have bounced back from near to its support of Rs 47,400 levels. It may consolidate at current levels before gaining strength for an upward move towards the Rs 48,000 levels," said Ravi Singh, Vice President and Head of Research, ShareIndia.

Among Sensex stocks, ICICI Bank climbed 2.24 per cent to Rs 806.90. IndusInd Bank, HDFC and Sun Pharma advanced up to 2.2 per cent. Infosys, Kotak Mahindra Bank, Axis Bank and HDFC Bank gained over 1 per cent each.

As of 31-Dec-2021, promoters held 43.49 per cent stake in the company, while FIIs held 35.31 per cent and domestic institutional investors had 1.56 per cent.

The Controller General of Accounts data showed the government received Rs 17.61 lakh crore (89.1% of the corresponding BE 2021-22 of total receipts) up to December. This comprises Rs 14.73 lakh crore of tax revenues, Rs 2.59 lakh crore of non-tax revenues, and Rs 28,469 crore of non-debt capital receipts.

The survey pointed out that imported inflation in edible oil and pulses jacked up the prices of these commodities, which were controlled by proactive measures by the government.

Adani Ports, Tech Mahindra, Chola Finance, P&G, Jindal Steel, Sona BLW, Kansai Nerolac, Indian Hotels and TTK Prestige are among the companies that will announce their December quarter results today.