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[9/6/14] As the days for preesentation of Union Finance budget approaches near and industry awaits maiden budget by finance minister Arun jaitely, speculations in Indian stock markets are already on rise. President Pranab Mukherjee's address to new parliament raised some hope about a budget targeting lower fiscal deficit, thus there might be some cuts in subsidies.
Benchmark Indian stock indices including Bombay Stock Exchange's 30 component SENSEX and National Stock Exchange's NIFTY 50 ended the day at all-time high closing rate. Most followed SENSEX closed today at 25,549.97, up 153.51 points, Index touched an all-time intraday high of 25,644.77 today. While NSE's NIFTY 50 closed at 7,645.80, up 62.40 points, touching an all-time intraday high of 7,673.70 today. Only loser was the oil and gas index which declined by 0.42 percent today. Market breadth was positive on the NSE with 1126 gainers against 434 losers.
As the speculations about Union finance budget keeps on rising, Indian indices might keep moving upwards till the budget is presented, There would be probably correction after budget is presented.
Benchmark Indian stock indices including Bombay Stock Exchange's 30 component SENSEX and National Stock Exchange's NIFTY 50 ended the day at all-time high closing rate. Most followed SENSEX closed today at 25,549.97, up 153.51 points, Index touched an all-time intraday high of 25,644.77 today. While NSE's NIFTY 50 closed at 7,645.80, up 62.40 points, touching an all-time intraday high of 7,673.70 today. Only loser was the oil and gas index which declined by 0.42 percent today. Market breadth was positive on the NSE with 1126 gainers against 434 losers.
As the speculations about Union finance budget keeps on rising, Indian indices might keep moving upwards till the budget is presented, There would be probably correction after budget is presented.
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