Union Budget 2011-12 & Stock Market: An Overview

"Union Budget & Stock Market"

The Union Budget 2011-12 has been announced by Finance Minister today 28th Feb'11.Let us have a quick overview of Stock Market after announcement of the Budget.

The budget is positive for equity markets and for the bond markets.The one very positive announcement was that foreign nationals will be allowed to invest into equity mutual funds of India. This is a positive call for market.But this Budget is not a direction setter for stock market. 

In the beginning of the day, both benchmarks NSE - BSE showed positive movement.The BSE index Sensex and NSE index Nifty gained profit in the mid-morning today.

With the announcement of incentives for private investment in infrastructure Budget  boosted the stock market  with the Sensex rising by 585 points to 18276 and the Nifty going up by 162 points at 5465 in mid-morning.

The market closed an important day of trade in the green but on a disappointing note because it could not hold on to its earlier gains. Into closing, it leveled out after a huge intra-day rally post the Budget announcement. Sensex closed at 17832, up 131 points  and Nifty at 5334, up 30 points from the previous close.

Here is a list of Top Gainers and top losers of the day:-

Sensex:17,823.40(+122.49)

Nifty:5,333.25(+29.70) 

Top Gainers (BSE):

• ITC Ltd. 
• TVS Motor Co. Ltd. 
• P&G Hygiene & Health
• Central Bank 
• IDFC

Top Losers (BSE):

• Glenmark Pharma 
• BGR Energy Systems 
• Sesa Goa
• Jain Irrigation 
• Thermax Limited

Top Gainers (NSE): 

• ITC Ltd. 
• IDFC 
• Reliance Capital
• Mahindra & Mahindra
• Maruti Suzuki India 

Top Losers (NSE):  

• Sesa Goa
• Ambuja Cements Ltd. 
• Reliance Infrastructures 
  
• Ranbaxy Laboratories Ltd. 
• Jaiprakash Associates