Wednesday, 1 February 2017

Sensex, Nifty nervous ahead of Budget; TCS, Infosys fall 2%


SBI, Adani Ports, Maruti, HDFC and BHEL are top gainers while TCS, Infosys, Wipro, ICICI Bank and NTPC are losers in the Sensex. 

The market seems to be nervous ahead of Budget. The Sensex is up 20.90 points at 27676.86 and the Nifty is up 5.50 point at 8566.80. About 1097 shares have advanced, 892 shares declined, and 154 shares are unchanged.

SBI, Adani Ports, Maruti, HDFC and BHEL are top gainers while TCS, Infosys, Wipro, ICICI Bank and NTPC are losers in the Sensex.

Game-changing taxes such as modifications to the Long Term Capital Gains regime, if announced in the Union Budget, will be important from the direction point of the view, said Vikas Khemani, President and Chief Executive Officer at Edelweiss Securities.

Speaking to CNBC-TV18, Khemani said that fiscal deficit would be the number to watch and the Budget speech would be important to get a sense of the overall state of the market.

He said that he does not expect any 'change of course’ initiatives, adding that the impact of the Budget on the markets will be short-lived unless drastic changes are announced.

Read more at: http://www.moneycontrol.com/news/local-markets/sensex-nifty-nervous-aheadbudget-tcs-infosys-fall-2_8385181.html?utm_source=ref_article
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