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The market continued to be volatile ahead of expiry of February derivative contracts and Railway Budget. The Sensex rose 25.83 points to 23114.76 and the Nifty advanced 1.20 points to 7019.90.
Sun Pharma, Lupin, Tata Motors, Mahindra & Mahindra, Coal India, ONGC and Hindalco Industries topped buying list on Sensex, up 1-2 percent while TCS, Adani Ports, Wipro, Bharti Airtel and NTPC were under pressure, down more than 1 percent.
Finance Minister Arun Jaitley is likely to slash corporate tax rate by about one percent and may put an end date for certain exemptions availed by the industry, in his Budget for 2016-17, tax experts said.
"To begin with, one percent cut in the corporate tax rate, gradual phasing out of accelerated tax depreciation and a sunset clause for the tax deductions, coupled with reduction in MAT, will set the tone for this year's Budget," KPMG (India) Partner Tax Vikas Vasal said.
Jaitley in his last Budget had announced phased reduction in corporate taxes over four years to 25 percent from present 30 percent, and also simultaneous withdrawal of exemptions.
Economic Laws Practice Partner Rohit Jain said since the government is pushing domestic manufacturing, in the next Budget it would be a challenge to do away with exemptions.
The market gained more than 1 percent in early trade, tracking positive trend in global peers and oil rally. All sectoral indices were trading in green.
The 30-share BSE Sensex rose 297.08 points or 1.27 percent to 23678.95 and the 50-share NSE Nifty jumped 86.90 points or 1.22 percent to 7195.35. The BSE Midcap and Smallcap indices also gained more than 1 percent.
The market has once again opened in red. The Sensex is down 55.43 points or 0.2 percent at 23136.54 and the Nifty slips 15.85 points or 0.2 percent at 7032.40. About 280 shares have advanced, 348 shares declined, and 46 shares are unchanged.
Dr Reddy's Labs, Sun Pharma, GAIL, NTPC and Infosys are top gainers while SBI, BHEL, Hindalco, Bharti Airtel and Tata Steel are losers in the Sensex.
The Indian rupee opened lower by 12 paise at 68.49 per dollar versus 68.37 Tuesday. Dollar rose against most major currencies. But, the Japanese yen rose against the dollar as the oil deal left some investors unsatisfied and buying the safe-haven currency.
The market is still down with capital goods, pharma, IT, banks and metals dragging. The Sensex is down 107.75 points or 0.5 percent at 23446.37, and the Nifty slips 34.60 points or 0.5 percent at 7128.35. About 831 shares have advanced, 1004 shares declined, and 93 shares are unchanged.
Mayhem in market continues as selling pressure intensifies led by banks, capital goods, pharma and metals. Both the benchmark indices are down 21 percent from record highs. The Sensex is down 193.01 points or 0.8 percent at 23827.97 and the Nifty is down 59 points or 0.8 percent at 7239.20. About 406 shares have advanced, 1315 shares declined, and 73 shares are unchanged.
Equity benchmarks remained under pressure in morning trade with the Sensex falling 257.33 points or 1.06 percent to 24030.09. The Nifty reclaimed 7300 amid sell-off, down 79.90 points or 1.08 percent to 7307.35.
For more Free Stock, Commodity And Nifty Market Trading Tips you can call me on 07316619100 or visit us at www.marketmagnify.com/nifty-future-tips.php The market continues to see firm buying in early trade. The Sensex is up 158.96 points or 0.7 percent at 24382.28, and the Nifty up 52.65 points or 0.7 percent at 7414.45. About 1272 shares have advanced, 459 shares d
eclined, and 59 shares are unchanged.
ONGC, Hindalco, L&T, Adani Ports and Bharti Airtel are top gainers while NTPC, GAIL, Tata Steel, ICICI Bank and TCS are major losers in the Sensex.
Global jitters rocked Dalal Street on Tuesday with Sensex losing 300 points and Nifty falling below 7500. The SGX Nifty, which was trading at 7,402 level down 62.50 points at 7:45 AM, is indicating a weak start today.
Sharp cuts were seen in the global markets, with US market ending sharply lower on back of oil price crash and weak earnings. The major indices fell nearly 1.8 percent.