Budget Impact On Stock Market 2013

In MUMBAI  The Sen sex gained momentum after a choppy start as traders bought shares at lower levels which were beaten down post budget speech last day.Power, metals, capital goods and technology stocks led the up move while realty and healthcare remained subdued. Analysts are advising traders to hold on to short positions as the trend on charts is still bearish. 

At 11 a.m the 30-share index was at 18929.13,up 67.59 points or 0.36 %. It touched a high 18966.30 and a low 18820.90 in trade today. 

The Nifty was at 5,719.35,up 26.30 points or 0.46 %. It touched high 5728.15 and low 5679.90 in trade today. 

*Nirmal Bang:

Nifty declined below the crucial levels of 5720 and has closed below it. The index faces crucial hurdles at 5,750 levels on the upside, expect selling pressure to continue at higher levels.The index is likely to decline towards the 5650 & 5620 levels in the close term.

The BSE Mid cap Index was up 0.42 per cent and the BSE Small-cap Index was 0.15 per cent higher. 

The BSE Power Index was up 1.36 per cent, the BSE Metal Index was 1.36 percent higher, the BSE Capital Goods Index gained 1.15 per cent and the BSE IT Index advanced 0.81 per cent. The BSE Realty Index was down 1.62 per cent and the BSE Healthcare Index edged 0.61 per cent lower. 

The top Sensex gainers:

Jindal Steel- 4.84 per cent, MarutiBSE 2.80 % (2.61 per cent), Tata PowerBSE 2.59 % (2.54 per cent), ICICI BankBSE 1.66 % (2.07 per cent), and Wipro BSE 1.80 % (2.02 per cent) 

The top losers:

Hero MotoCorpBSE-2.15 % (2.39 per cent), Dr Reddy's Laboratories (1.60 per cent), NTPC (1.16 per cent), Bajaj AutoBSE -0.70 % (0.90 per cent) and Bharti AirtelBSE -0.91 % (0.79 per cent). 

The market breadth was flat on the BSE with 1078 gainers against 1080 losers. 

The foreign institutional investors bought sold shares worth Rs 1317.79 crore while domestic institutional investors bought equities worth Rs 417.94 crore on Thursday as per the provisional data from the National Stock Exchange.

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