The market is still on fire as the Sensex is up 247.42 points or 1 percent at 24490.40, and the Nifty is up 69.55 points or 0.9 percent at 7438.40. About 1283 shares have advanced, 776 shares declined, and 102 shares are unchanged.

BHEL, Tata Motors, Tata Steel, L&T and Hindalco are top gainers while ICICI Bank, Maruti, Lupin, NTPC and SBI are major losers.

Oil prices held steady today in Asian hours despite a rise in US inventories, with traders hoping talks among major producers could lead to an output cap. Crude, which in January was wallowing near 13-year lows below USD 30 a barrel -hit by overproduction and a supply glut has steadily picked up recently as dealers are buoyed by the fact there are talks.

The Indian rupee has climbed further as it opened with a gain of 14 paise on today at 67.40 per dollar. It closed at 67.54 in previous session.

Following the government’s Union Budget, expectations are high that the Reserve Bank of India cut interest rates soon — and perhaps several times over the year.

Tata Steel topped buying list on Sensex, up 4 percent. Tata Motors rallied 3.7 percent after Jaguar Land Rover sales increased 25.3 percent year-on-year to 7,929 units in February, majorly supported by Land Rover that grew by 30.5 percent to 6,417 units.

Infosys climbed over a percent as Morgan Stanley maintained overweight rating on the stock.

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