Stock Market news : - The Budget session in Parliament has
begun with President Pranab-Mukherjee asking politicians todebate and discuss
and not disrupt or obstruct Parliament. Ahead of the railway budget on
Thursday, stocks linked to the sector which usually have a run-up have lost
track with some like Kalindee Wagon and Titagarh Wagon losing over 8% intra-day
on Tuesday. The Railway minister is expected to depend more on External
Budgetary Resources (EBR) to keep the engine chugging.The results of latest
round of FICCI’s Economic Outlook Survey put across a median GDP growth
forecast of 7.4% for the current fiscal year. This marks no change from the
estimated growth in the previous survey round, but is lower than the advance
estimate of 7.6% put forth by the Central Statistical Organization recently. The
outlook is a flat to negative start. On Wall Street, Indian ADRs HDFC Bank
and ICICI Bank slipped by 4-5%. Asian markets are mostly lower. US stock
indices tumbled on Wednesday after a crack in oil prices sent energy and bank
shares sharply lower. Dow declined 1.1%. S&P 500 lost 1.3% while Nasdaq
slumped by 1.5%.Crude oil prices sank after Saudi oil minister's comments
dented optimism built by a proposal between Russia and Saudi Arabia to freeze
production. Separately, a popular gauge of US consumer confidence fell to a
seven-month low in February. Investors will now look forward to important
readings on inflation, durable-goods orders and a second estimate of 4Q GDP,
due later this week.
For 2 Days Free Trial, please visit our site
at http://www.capitalheight.com/stock-tips.php or
Call at 0731-6615050, 9993066624.
No comments:
Post a Comment