New Delhi: Stock markets recovered from early losses and surged by more than 1% in afternoon session on Monday on positive expectations ahead of the federal budget on 6 July,.amid mixed Asian markets.
At 2.32 pm, the BSE benchmark 30-share index was up 1.1% at 14,927.07 points.
The 50-share National Stock Exchange index Nifty was higher by 1.35% at 4,434.65 points.
By 12:22 pm, the 30-share BSE index was trading 0.72% high at 14,871.29.
The Sensex had opened 0.4% higher, but slipped 0.39% soon after on profit-booking by the investors.
Investors expect the market undertone to remain positive ahead of the federal budget next week which could see the government unveil pro-market reforms such as privatizations and relaxation of foreign investment rules.