Key benchmark indices edged higher on the first trading session of the week after the Finance Minister P Chidambaram said that the fiscal deficit will be contained at 4.6% of GDP for the year ending 31 March 2014 (2013-14) and will be pruned further to 4.1% of GDP in 2014-15 and that the current account deficit (CAD) will be contained at $45 billion in 2013-14. The barometer index, the S&P BSE Sensex, closed 97.24 points or 0.48%, up close to 127 points from the day’s low and off about 128 points from the day’s high. The market breadth, indicating the overall health of the market was negative.
Who Moved and Why
- Punj Lloyd slides after reverse turnaround in Q3.
- Jet Airways gains on open offer hopes.
- ABG Shipyard tumbles after reporting net loss in Q3.
- Most auto stocks rise after proposed reduction in excise duty.
- MTNL jumps after turnaround in Q3.
- Allcargo Logistics surges after strong Q3 earnings.
- IFCI gains as Govt to set up venture fund.
- Kavveri Telecom drops after reverse turnaround in Q3.
- Gayatri Projects slumps after poor Q3 outcome.
Read detail analysis report here: – http://rrfinance.com/Reserch/Pdf/07-July/DMR/17th_feb_equity_closing_update.pdf