Monday, 29 February 2016

Live Stock Market Updates: Sensex, Nifty open flat

The Sensex is soon down 41.01 points or 0.2 percent at 23113.29, and the Nifty is down 18.55 points or 0.3 percent at 7011.20. 

The market has opened in green but quickly slips into red on crucial Budget day. The Sensex is up 67.00 points or 0.3 percent at 23221.30, and the Nifty is up 20.70 points or 0.3 percent at 7050.45. About 304 shares have advanced, 95 shares declined, and 43 shares are unchanged.

Coal India, SBI, ONGC, Axis Bank, GAIL are top gainers while Cipla, ITC, BHEL, Lupin and Asian Ports are losers in the Sensex.

As Finance Minister Arun Jaitley presents Union Budget today, the market will focus on credibility of numbers. Investors will be keen to know if the govt deviates from the fiscal consolidation roadmap in order to boost growth. The other big fear the market has is the possible extension of the long term capital gains tax tenure from 1 to 3 years or the possibility of reintroduction of a tax itself.

The Indian rupee opened lower by 9 paise at 68.69 per dollar on Monday versus 68.60 Friday.

1 comment:

  1. In 2013 Tata brand was ranked fifth, in 2015 it went up to become fourth, and now it has slipped to seventh position in the 2016 report.