Market Rallied on Eco Survey, Budget Hopes

option tips25 decMarket rallied on Eco Survey, Budget hopes.

Markets gains near around 2% it was best single day advance in six weeks led by PSU Banks and Realty stocks. Heavy buying was seen in today’s trading session ahead of Union budget tomorrow (28/Feb/15) lifted trading sentiments, Further High Volatility is expected in tomorrow session.

ALL ABOUT INDIAN CURRENCY:

Rupee dips on profit booking after recent gains against the US dollar in the last few sessions. The currency was trading lower at 61.79 compared to the yesterday close of 61.75 at the Interbank Foreign Exchange after the US dollar appreciated against other currencies.

HEADLINES FOR THE DAY:

  • PSU Bank index up 4%; Bank of India gains 6%.
  • FMCG index ended in red zone in an otherwise market; ITC Jubilant food dips.
  • Railway shares gains after 3 days losing streak; TWL locked with an upper circuit.
  • Realty, Infra stocks rallied as much as ahead of federal Budget.
  • Tata Power, Larsen & Toubro, Rolta, Bharat Electronics gains as consortium selected for Rs 50,000 crore defense project.
  • Cement stocks gains, shrug freight fear; Ambuja Cement gains 3.5%.
  • IDFC gains as to acquire 23.5% in ONGC Tripura Power OTPC
  • Bharti Airtel gains; raises Rs 1,925 cr from stake sale in tower unit.
  • DLF reviewing $8.4 mn SEBI penalty on its top management.
  • Capital goods stocks gains on the back of fresh order inflows.

SOME STOCKS FOR TOMORROW TRADING SESSION:

  •  Astramicro EQ was trading near all time high further upper movement could be seen in next trading session. Buy Astramicro EQ above 158.40 Targets 159.90/161.55/163.20 maintain SL of 156.70.
  • Dish TV gains on the back of heavy volumes; Further upward movement is expected Buy above 83.50 targets 84.30/85.15/86 SL 82.50.

GLOBAL MARKETS:

European stocks gains and hits seven-year highs today, extending 2-month rally fueled by the ECB money printing program which starts in the coming few weeks.

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