The BSE Sensex and NSE Nifty snapped four-day losing streak on Tuesday on account of buying in frontline blue chip counters and taking cues from global counterparts.
Assembly election results 2016 in the five states — Assam, West Bengal, Tamil Nadu, Puducherry and Kerala — once again spurred hopes of early passage of GST Bill
Ace investor Rakesh Jhunjhunwala also says there is absolutely no doubt about the future of Indian equity market and if earnings go up, the market will go up too.
The domestic stock markets will remain closed on Thursday on account of Ambedkar Jayanti. The Sensex stayed in the positive zone throughout the session on Friday and ended higher by 481.16 points at 25,626.75.
Budget 2016: All eyes will be on the biggest economic event of the year -- Union Budget 2016-17 -- on Monday, which will set the stage for the movement of domestic equity market in days to come, say experts.
The stock markets have remained under pressure ever since the beginning of this year. Sensex has fallen over 10 per cent from January 1 till Feb 17 and it has corrected by 20 per cent over the past one year.
Finance Minister Arun Jaitley also said that there is no need for exaggerated panic over global developments and investors should keep in mind inherent strength of Indian economy.
While the mid-cap index plunged by 8.52 per cent to 10,217.05, losses were more sharper in the small-cap index which fell by 9.62 per cent to 10,697.91.
Since the beginning of 2016, the BSE Sensex fell 6.37 per cent, or 1,662.50 points to 24,455.04 till January 15. The 50-share index, Nifty plunged 6.39 per cent, or 508.55 points, to 7,437.80 during the same period.
The tumbling benchmark indices Sensex and Nifty are now eyeing the Winter session of Parliament for further direction, which will see discussions on important bills like Goods and Services Tax (GST) and Land Acquisition.
