Friday, March 16, 2012

How nifty stocks moved today?

Today is very crucial day for Indian market. Union budget is announced today by finance minister of India in parliament today. Market reacted today negatively on budget announcement. Nifty closed 62 points down 5317. Market have very less expectation from budget. But today market lackluster by disappoint in budget announcement.
Stock specific performance of nifty.
  • ITC is one stock have good session today. This stock have not very good news from budget but stock moved 3 to 4 % higher. hike in cigarate  tax but stock moved high. there is opinion that stock have valuation of about 10 % tax but tax is now 15%. Stock closed 216 odd level and touched high of 225 intraday. 
  • Mahindra and Mahindra is another stock that moved higher and have good session. There is pressure on stock due to tax hike in vehicle of diesel engine. This stock is performed well when market was lower level and when market is corrected then this stock moved lower. 
  • Sun Pharma is stock  of disappointment due to news of joint business. This stock is lower by 6 to 7 percent.
  • Oil and Natural Gas Corporation is PSU company in oil and gas sector have also disappointment and lower by 5 odd percent. This is disappointment in subsidy matter.
  • Banking sector is lower due to fiscal deficit of 5.1 per cent  and this is another trigger for credit policy announcement by central bank.
This is possible to talk on single stock in a day and write blog here . I write one blog  daily on movement of market and moving stocks and currency . 
I will try to write on every market day if possible here on Indian market. one can like this then can post comment on blog there. 

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