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Wednesday, 25 February 2015

Nifty slips ahead of F&O expiry, Rail Budget; Sesa gains

The market remained under pressure ahead of expiry of February derivative contracts and Railway Budget today. The Sensex declined 63.44 points to 28944.55 and the Nifty fell 17.40 points to 8749.85.

The broader markets declined too; the BSE Midcap and Smallcap indices lost 0.2 percent each. About 830 shares have advanced, 1067 shares declined, and 177 shares are unchanged on the BSE.

Neelkanth Mishra, Credit Suisse says in the last ten days, the refrain "Budget will disappoint" has been heard often, tempering some of the high expectations. However, both the earlier excitement and the reversal have been rather vague in terms of concrete expectations, he adds.

"We expect a growth-boosting stimulus: a rise in non-defence capex & believe an FRBM push-out, if for the right reasons would not hurt yield much," Mishra says.

Infosys, Sun Pharma, Bajaj Auto and Hindalco Industries declined 1-1.8 percent followed by HDFC Bank, L&T, Axis Bank, SBI, HUL, Dr Reddy's Labs, Maruti and Cipla with 0.4-0.8 percent loss.

However, Sesa Sterlite gained 1.7 percent as Goa CM Laxmikant Parsekar says Ministry of Environment, Forest will lift suspension of Goa’s mining leases within a week.

HDFC, ICICI Bank, ONGC, Reliance Industries, Tata Motors and BHEL climbed 0.3-0.9 percent. More information please visit this site

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