Friday, 27 January 2017

Nifty ends below 8650, Sensex up 174 pts; BHEL up 5%

The market has ended higher but it gave up early gains. The Sensex closed up 174.32 points or 0.6 percent at 27882.46, and the Nifty was up 38.50 points or 0.4 percent at 8641.25. About 1401 shares have advanced, 1387 shares declined, and 288 shares are unchanged. BHEL, Bharti, ICICI Bank, NTPC and SBI were top gainers while ITC, Wipro, Lupin, Tata Motors and HUL were losers in the Sensex. 2:55 pm Budget expectations: The key focus this Budget will be on fiscal consolidation and the government is likely to stick to this path, say sources. The Budget will be presented by Finance Minister Arun Jaitley on February 1. 

As per sources, government believes that deviating from the fiscal consolidation path will send a negative signal and it is an option only to meet any extraordinary situation. Two themes that will not be skipped this Budget will be demonetisation and goods and services tax (GST) and the government says that it is better placed with resources post the note ban. It also expects the indirect tax system to boost revenue.

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