Money on the markets

A maturing market amid the mayhem

Market ends flat, no cues from economic survey

July 2, 2009

MARKETS SOUTHASIA STOCKSThe Sensex ended just 13 points higher at 14,658 after a volatile session as investors awaited budget announcements next week.

The government released the economic survey report on Thursday which said India could see growth of around 7 percent this year if it makes sweeping reforms and speeds infrastructure development. (Click here for complete coverage)

Shares in Reliance Industries and Bharti Airtel fell over 2 percent each.

ONGC shares jumped 7 percent after the government raised fuel prices on Wednesday, a move that could ease the subsidy burden on oil firms. ONGC was also the top index gainer.

Metal stocks did well in trade leading to an over 3 percent jump in the BSE Metal Index. Tata Steel, JSL Ltd, SAIL and Sterlite Industries posted gains.

BSE capital goods, auto and banking indices were on the losing side.

The markets did not react much to the economic survey and the focus remains on the July 6 Budget.

Do you think the market will remain volatile on Friday?

Comments

Sensex had a nondescript run today-it managed to stay afloat,up 13 points at 14,658.

All said,Economic Survey was quite a positive commentary on economic programmes of the government.It had a right mix-talking about reforms,about a need to control deficit financing,a regular disinvestment programme of Rs 25,000cr.per year and some urgency about spending money on infrastructure development.

Hope Art(read economic survey)imitates Life(read budget).

Then why did sensex remain subdued?

Sensex could take us by surprise tomorrow.It could make a dash for +15,000.

Posted by A.Kapoor | Report as abusive
 

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