As India’s top economic advisor tried to highlight the sectors that India needs to focus on to come out of the current economic slump, benchmark indices lost ground. The S&P BSE Sensex ended 176 points or 0.43 percent lower at 40,736.84 points, while the broader Nifty 50 index settled below the crucial 12000-mark, at 11,962 […]
As India’s top economic advisor tried to highlight the sectors that India needs to focus on to come out of the current economic slump, benchmark indices lost ground. The S&P BSE Sensex ended 176 points or 0.43 percent lower at 40,736.84 points, while the broader Nifty 50 index settled below the crucial 12000-mark, at 11,962 points.
Chief Economic Advisor (CEA) Krishnamurthy Subramanian’s Economic Survey came out with the theme, “Enable Markets, Promote ‘Pro-Business’ Policies and Strengthen ‘Trust’ in the Economy.”
Here are all the stocks that showed gains in the hour after the Economic Survey was tabled in the parliament ahead of the Union Budget which will be tabled on February 1 by the Finance minister.
On BSE Sensex index among large-cap gainers were NMDC which was 1.11% in the first hour and trading at a price of Rs 118.90, Aditya Birla capital too showed gains and jumped 1.10% priced at Rs 101.30. Troubled Zee Entertainment moved up 0.80% and was trading at Rs 271.35. Nippon life India asset management ltd and Piramal Ent were the other two gainers in the initial hour both up 0.78% and 0.64% respectively.
Among the midcap stock, Varroc Engineering was leading the pack up by 4.14% trading at Rs 490. Varroc was followed by KEC Int Ltd that jumped 2.22% at Rs 340.35. TCI express too reacted positively to the economic survey gaining 1.70% to trade at Rs 890.90. Techno Electric & Engineering co ltd and Grindwell Norton gained 1.57% and 1.42% respectively.
On the NSE Nifty 50 index, large-cap firms that gained market value after the economic survey were led by Shree Cement Limited which gained 0.80% to trade at Rs 23,409. The stock was however down from its opening mark of Rs 23,627. Coal India gained 0.71% initially priced at Rs 185 but soon shed gains. Adani Ports too gained 0.70% and was trading at Rs 373.65 in the initial hours. Larsen & Toubro Infotech Ltd gained 0.46% and was trading at Rs 1,948 followed by Adani power which gained 0.41%.
The Economic Survey has estimated that India’s GDP growth for Financial Year 2020-21 will be between the range of 6% and 6.5%. The survey has tried to connect the common man to the economy of the nation. For this, the Economic Survey states that we need to look at the price of a plate of food.
The Economic Survey also talks about less government intervention in markets.