BSE Sensex posts highest pre-Budget weekly gains of 3.4 pct since 1996-97

Jul 05 2014, 12:29 IST
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Since 1997 till date, Sensex has given negative returns during 11 pre-Budget weeks. AP Since 1997 till date, Sensex has given negative returns during 11 pre-Budget weeks. AP
SummarySince 1997 till date, Sensex has given negative returns during 11 pre-Budget weeks.

has to make a choice between mindless populism and fiscal prudence...Opportunity to grow comes with challenges,” Arun Jaitley, the finance minister, said at a function organised by Institute of Chartered Accountants of India.

Among its peers, Asian markets had a mixed day. Nikkei 225 (0.6%), Hang Seng (0.06%) and Jakarta Composite (0.3%) were among the gainers. Kospi (-0.1%), Straits Times (-0.03%), Shanghai Composite (-0.2%) and Taiwan Taiex (-0.2%) ended in the red.

Back home, 20 of the 30 Sensex companies ended in green on Friday. In the broader market, breadth was strong with 1,636 stocks trading on BSE ending higher compared with 1,418 declines. Most of the 13 BSE sectoral indices ended in green. BSE Oil & Gas (1.7%), BSE Realty (1.1%), BSE Power (0.9%) and BSE Bankex (0.7%) were the major gainers.

Budget is likely to provide the next big trigger. NSE cash turnover on Friday stood at Rs 16,394.21 crore, while the turnover in the F&O segment stood at R1.38 lakh crore.

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