The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,810 level, a premium of nearly 35 points from the Nifty futures’ previous close.

The GIFT Nifty implied that the markets would open on a higher note. It was up 68 points, or 0.28%, at 23,840. During the pre-open session, the Nifty 50 was up 62.50 points, or 0.26%, at 23,801.75, while the Sensex was up 120.79 points, or 0.15%, at 78,704.60.

Nifty 50 also faced the wrath of bears with a decline of 243 points to fall below 23,250 levels. Both the benchmarks have tumbled by more than 1% each. The performance comes after the Union Budget announcement where deep tax changes were announced by FM Nirmala Sitharaman.