Friday, 27 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 www.bigprofitbuzz.com

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