Market Positive Post Interim Budget
Suparna / 17 Feb 2014
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Finance Minister P Chidambaram delivered his Vote on Account today, which was also UPA Government’s final interim budget before the general election. Markets were positive as the FM kept the tax rates unchanged in interim budget, and in many ways seemed as populist budget. Food inflation is still the main worry, although it has declined sharply from a high of 13.6% to 6.2%. Nifty is trading up by 14 points at 6062 and Sensex is up by 57 points to trade at 20242.
The Indian market is at flattish movement in mid trading session.Presently, Nifty and Sensex both the indices are in green. Currently, Nifty is up by 14 points to trade at 6062 and Sensex has moved up by 57 points to trade at 20424.
The advance-decline ratio is in negative at this hour. On the NSE, 1044 shares are trading in gains and 1362 shares are down.
Top Nifty Gainers: Tata Power is the top gainer so far, up by 4.74%, followed by IDFC, Dr Reddy’s Labs, HDFC and Hero Motocorp.
Top Nifty Losers: NMDC has dipped by 4.54% this morning. Hindalco, Coal India, Jaiprakash Asso and Reliance are among the other stocks which are trading in red.
On the sectoral indices front, 5 out of 13 are trading in the positive zone as of now. Bankex and Healthcare indices are the main gainers, both are up by 66 points and 56 points respectively. Mid-Caps and Small-Caps turn red and down by 13 points and 4 points respectively.
The Asian markets are trading in green. Hang Seng has gained 237 points. Nikkei is up by 80 points. Shanghai composite, KOSPI and Taiwan Weighted are also trading in green.
Buzzer: Auto stocks, have moved up in today’s midsession as interim budget for 2014-15, proposed reducing excise duty for small cars to 8% from 12% earlier.
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