Markets open higher as global cues support

Markets opened the day higher today on the back of strong global cues. The BSE was up 167 points at 17,754 points, while the NSE Nifty was trading 49 points higher at 5408 points. Among the major gainers in early trade were DLF, Jaiprakash Industries, State Bank of India and Coal India.

Kingfisher Airlines was down 1.41% on reports that the company had cancelled several flights on Monday owing to a strike called by a section of its staff.

Markets are now keenly awaiting major policy announcements which are to take place this week, including the Union Budget, the Railway Budget and the Credit policy.

Any disappointments on the policy outcome could see markets reacting sharply. Marketmen are especially awaiting the Union Budget to see if there is fiscal consolidation and if the government can push through its reforms agenda.

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