ECONOMY
ANALYSIS
Sensex,
Nifty end at record closing highs; oil & it stocks soar
Nifty
on cloud 9, hits 9,000 in a first
IL&FS
Transportation up 4% on railway over bridges order
Ramco
Systems hits record high, up 14% on order in Vietnam
Ranbaxy
loses approvals, exclusivity of 2 drugs in US
Spectrum
auction for four bands to start tomorrow
MARKET
ANALYSIS
- It was an early Holi for Nifty on Tuesday with the 50-share index rallying over 50 points to hit a fresh record high of 9,008.40 in trade.
- After rallying by over 30 per cent in the calendar year 2014, Nifty has managed to add another 8 percent to its tally so far in 2015. From a technical point of view, Nifty has the strength to surge past levels of 10,000 and if the momentum continues, it may even surge past 11,000 in the next one year.
- The 50-share Nifty index finally closed 39.50 points higher or 0.44 percent at 8,996.25. It rose to a record high of 9,008.40 and a low of 8,925.55 in trade today.
- Nifty gave a strong technical breakout immediately after the 2014 Budget. On a monthly time-frame, the Nifty saw just a mild one month stall, before resuming its journey up to levels above 9000 in March 2015.
- The Budget has set the tone for long-term growth trajectory for Indian economy. Among other things it has introduced fiscal-policy loosening and ease of doing business, which could benefit India Inc in a big way.
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