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END OF THE DAY REPORT (28th Feb 2015):

Nifty at 1-month closing high and ends above 8900 mark.

Market gains on the budget day, it was a volatile session some heavy buying seen in banking and IT stocks. Nifty ends above its crucial mark of 8900 at 1 month closing high. If Nifty sustain above this level further upward movement seen. Nifty ends 57 points up at 8901 and Sensex gains 141 points at 29631.


  • Fiscal deficit, Current account deficit seen at 3.9% and below 1.3% of GDP in 2015-16.
  • Growth in GDP seen at between 8% to 8.5% year on year.
  • Introduced sovereign gold bond, gold monetization scheme, Indian made gold coin.
  • Import Tax increased on iron & steel to 5% from 10% as well as on metallurgical to 5% from 2.5%.
  • Increased investment in Infrastructure of Rs 700 bln.
  • Excise Duty hike by 25% of cigarettes (length not exceeding 65 mm); for other length 15%.
  • Total exemption upto Rs 444200; abolish wealth tax; Increased service Tax by 14%.


  • NBCC gains; signed MoU with Delhi Development Authority.
  • Pharma shares were in focus; Healthcare index up nearly 200 points.
  • Bank Nifty gains 500 points; Axis Bank surges 8%
  • Liberty Shoe stock up on reduction in excise duty.
  • Jain Irrigation moved higher in early trade budget’s focus on the farm sector.
  • IRB Infra surged; Road outlay increased by Rs 14000 cr.
  • Bharat Puri appointed as a new Managing Director of Pidilite Industries
  • L&T gains and hits fresh high after shortlisted for the battlefield management project.
  • ITC dips as much as after Excise duty hike on cigarettes.


  • Ambuja Cement EQ was trading near all time high further upper movement could be seen in the next trading session. Buy Ambujacem EQ above 273 Targets 275.70/278.50/281.25 maintain SL of 270.
  •  Tata Elxsi breaks its important resistance and close above it; Further buying is expected Buy above 1125 targets 1136.20/1147.60/1159 SL 1113.50.

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