Stock Trading News :- The market started off truncated week on a
flat note. The Nifty failed to hold 7500-mark amid choppy trade and weak global
cues. Index heavyweights Reliance Industries, ITC and HDFC supported equity
benchmarks while banks, infra and select technology stocks saw selling
pressure. It was a consolidation day after more than 6 percent rally last week.
The 30-share BSE Sensex rose 12.75 points to 24659.23 while the Nifty fell 0.05
points to 7485.30. The broader markets too ended flat. Nilesh Shah of Kotak
Mutual AMC says the Nifty is unlikely to revisit lows of 6800 unless
catastrophic events take place. He advised clients to be marginally overweight
on equities post Budget. Global markets saw consolidation and profit taking
after last week's rally. European markets like CAC and DAX fell 1.6 percent
each followed by FTSE with 1 percent loss while in Asia, Hang Seng and Nikkei
declined more than 0.7 percent each. However, Shanghai bucked the trend,
closing in green despite exports fell 25.4 percent in February, the biggest
fall since 2009. Oil prices edged lower today after Kuwait said it would only
agree to an output freeze if all major producers take part and Goldman Sachs
analysts poured cold water over the prospects for a sustained rally. Brent
crude futures fell 0.6 percent to USD 40.6 a barrel. Meanwhile, Finance
Minister Arun Jaitley says the government has withdrawn (Budget) proposal to
tax Employee Provident Fund but retained tax proposal for NPS.
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