On February 4, Indian stock market benchmarks Sensex and Nifty 50 gained over 1%, turning positive for the year, despite concerns about weak quarterly earnings and foreign capital outflows.

In the pre-opening session on February 4, the BSE Sensex was up 318.47 points or 0.41% at 77,505.21, while the NSE Nifty 50 gained 104.45 points or 0.45% to trade at 23,465.50.

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.