Market review: Sensex extends losses, down 151 pts to end 2-mth low
"As regards Budget, it is almost known everyone. Fiscal Deficit will be at 4.8 pct so what one should look at the budget? Will market go up or down? Everyone had taken huge long positions after the bullish statement issued by FM and all have seen their stop losses getting triggered. There is definite road map of dealing with diesel decontrol. This should be huge positive for OIL sector," Ostwal commented.
"In 2007 FIIs were sellers from July till December and market kept on rising and now the exactly reverse is happening. In recent months FII are large buyers and stock
markets are falling to new low of the year. In fact, even the bullish tone of hon'ble Finance Minister is of no use," he further added.
19 scrips out of the 30-share sensex pack ended in the red while 11 others finished in the green. Major losers were Jindal Steel 7.47 pct, Coal India 4.94 pct, Tata Motors 3.63 pct, Tata Steel 3.06 pct, ICICI Bank 2.83 pct, Hidnalco 2.32 pct, Maruti Suzuki 2.24 pct, HDFC Bank 2.23 pct and Bharti Airtel 2.03 pct.
However, besides RIL, Wipro gained by 4.19 pct, Sun Pharma 3.20 pct, Infosys 1.84 pct and Gail India 1.00 pct.
Among the sectoral indices, the BSE-Metal fell 3.46 pct, BSE-FMCG 2.28 pct, Bankex 2.06 pct, BSE-CD
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