Stocks

Sensex Crosses 35K; More Gains Likely Post Budget

Sensex Crosses 35K; More Gains Likely Post Budget

Sensex (BSE) for the first time touches the 35K mark by touching 35, 118.61 and closed at 35,084.78 whereas Nifty performed its best by touching 10, 803 while closing at 10, 788.55.

Sensex Hits 35,000 on Fiscal Borrowing Cut to 20K Crore

The Government of India recently announced that it has reduced the fiscal borrowing from 50, 000 crore to Rs 20, 000 crore that proved out to be masterstroke for the market. The BSE Sensex for the first time hits 35,000 leading to a celebration for the investors.

bse sensex chart 17012018

In the last month only the Sensex touched 34,000 mark and within few weeks it climbed to 35,000 and is expected to grow more. All the BSE sectors were in positive zone in which the capital goods index gained the most of 1.59%. Banking sector gained the second most of 1.55% while the IT sector gained 1.28%.

Banking and IT sector performed well followed by the cement, metal and energy sector. The reduction in additional borrowing can be seen in connection to the upcoming budget where the government will present its last full budget.

Top Gainers

The top three gainers come from the banking sector where Axis bank tops the list with the maximum gain. Axis bank gained the highest by 3.91% or 22 points closing at 387.80.

The second highest gainer is the State Bank of India with 3.70% gain closing at 308.10.

The Third is the ICICI bank that gained 2.74% closing at 343.35.

Others who gained are Infosys that gained by 2.60% closing at 1148.00. Aurobindo Pharm recorded a gain of 2.52% while HPCL gained 2.41 and Adani Ports gained 2.33%. Others who are in the list of gainers are Yes Bank, Larsen, ITC, TCS, UPL, Bajaj Auto, etc.

Top Losers

The biggest loser for the day was Zee Entertainment, an enterprise of Essel Group that lost -3.33% closing at 592.10 whose previous close was 613.40.

Wipro was the second most loser with -1.88% closing at 325.95.

Hindustan Unilever lost by -0.88% closing at 1375.85.

Oil and Natural Gas Corporation lost -0.78% closing at 195.30.

Some other losers are Kotak Mahindra, Hero Motocorp, HDFC Bank, Tech Mahindra, Bharti Infratel, etc.

Sensex Outlook

Since last one year there has been whooping rise in Sensex of more than 6000 points. Weeks from now the Union Government will present budget for FY201819 and if things go as expected then there won’t be any shock if Sensex rallies to new heights.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay updated with latest news on finance, taxation reforms, stocks, currencies, trading, global markets and many more.

Are you finding it difficult to manage your personal finance? Know your best opportunities of investments and savings with expert analysis and latest updates.

Copyright © 2016 Finance Minutes

You agree to not make actual stock trades based on comments on the site, nor on any techniques presented nor discussed in this site or any other form of information presentation. Finance Minutes will not be held liable for any losses you in occur while trading. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. All information is for educational and informational use only. You agree to consult with a registered investment advisor, prior to making any trading decision of any kind.

To Top