Use this space to put some text. Update this text in HTML Powered by Blogger.

Thursday, 26 February 2015

Sensex up over 100 pts; L&T, Tata Power lead gainers

The market bounced back today with the Nifty reclaiming 8700 level on first day of March series, supported by banking & financials, capital goods and metals stocks.

The 30-share BSE Sensex rose 132.66 points to 28879.31 and the 50-share NSE Nifty advanced 46.10 points to 8729.95. The BSE Midcap and Smallcap indices outperformed benchmarks, rising 0.8 percent each.

Advancing shares outnumbered declining ones by a ratio of 2 to 1 on the Bombay Stock Exchange.

The market will have a special trading session on Saturday on the back of Union Budget 2015-16.

Rakesh Arora, Macquarie says expectations are running high and an 'incremental' Budget may not enthuse the market. Though, it won't be a radical one either, according to him.

"The market had run ahead of fundamentals, so a slight pullback would help cool things off. Industrial stocks are under owned and are best suited to play the India story," he adds.

Larsen & Toubro and Tata Power topped the buying list, up 3 percent as the Defence Ministry has shortlisted a consortium of Tata Power-Strategic Electronics Division (SED) and Larsen & Toubro for the battlefield management project, the order value of which in the production phase may be as much as Rs 50,000 crore. More information please visit this site

No comments:

Post a Comment