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Monday, February 22, 2016
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The market closed higher once again on Monday,oil & gas, pharma, metals and select banks stocks were totally responsible for the changes that occurred in equity and commodity market today.
Top Gainers of the day : HUL, Sun Pharma, Reliance, Lupin and Cipla
Losers: NTPC, ITC, Maruti, Adani Ports and Wipro
Gold prices fell by Rs 280 and cracks below the Rs 29,000 mark to Rs 28,970 per 10gms at the bullion market today. Silver also dropped by Rs 325 to Rs 37,100 per kg.
Positive global cues also supported Indian equities. The Sensex rose around 79.64 points to 23788.79 and Nifty reclaimed 7250 in a day, up 23.80 points to close at 7234.55 amid volatility. The broader markets outperformed benchmarks with the BSE Midcap rising 0.75 percent. Investor concerns currently are focusing towards the Budget. However, consensus view is that the Budget will be largely positive as expectations are low.Jayaram says, post the Budget, there is a possibility that the market may form a firm bottom on the back of feel-good factor and then move ahead.
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