Benchmark indices Nifty 50 and BSE Sensex rose sharply on January 31 driven by short-covering ahead of the Union Budget presentation on February 1. The BSE Sensex closed in green at 58,014.17 jumping by 1.42 per cent. Similarly, the BSE MidCap also rose by 426 points to a level of 24,613 points i.e. by 1.76 per cent. The BSE SmallCap index also surge by 286 points and landed at 29,226 levels up by 0.99 per cent.