Stock Market Opening Bell Nifty Fails To Hold 7250 By CapitalHeight As On 23-Feb 2016

Stock Market News :- Experts feel the market may remain range bound ahead of expiry of February derivative contracts due on February 25 and Union Budget that is scheduled to be announced on February 29. \he market closed higher for fourth consecutive session on Monday, driven by oil & gas, pharma, metals and select banks stocks. Positive global cues also supported Indian equities. The 30-share BSE Sensex rose 79.64 points to 23788.79 and the 50-share NSE Nifty reclaimed 7250 intraday, up 23.80 points to close at 7234.55 amid volatility. The broader markets outperformed benchmarks with the BSE Midcap rising 0.75 percent. Experts feel the market may remain range bound ahead of expiry of February derivative contracts due on February 25 and Union Budget that is scheduled to be announced on February 29. Investor concerns currently are veering toward the Budget as there are obvious worries with respect to rumours of the definition of long-term capital gains period being changed, says C Jayaram of Kotak Mahindra Bank. However, consensus view is that the Budget will be largely positive as expectations are low. Jayaram says, post the Budget, there is a possibility that the market may form a firm bottom on the back of feel-good factor and then move ahead.
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