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Markets cautiously flat ahead of the budget.

The markets have opened on a flat note ahead of the presentation of the Union Budget today. The Sensex is flat at 17,678. Nifty is at 5,382.

Asian shares steadied on Friday and the dollar took a breather after its recent broad rally spurred some profit taking. The MSCI Asia Pacific ex-Japan index was barely changed and Japan’s Nikkei opened down 0.1%.

Most of the sectors are trading flat. Auto shares are down with Tata Motors, M&M in red. Some of the private banks are also in the negative zone. Mid-cap index has also seen a lacklustre opening.

Frontliners, BHEL, L&T, JP Associates, ICICI Bank, Grasim, Sterlite, SBI and Sesa Goa were on buyers’ radar.

However, Tata Motors, M&M and Maruti were down 1-1.5% as market experts feel that there may be excise duty on diesel cars.

Reliance Industries and Kotak Mahindra Bank too were down.

HMT and ITI were up 3.5-6%.

Jain Irrigation rose 3% ahead of likely outcome on agricultural sector in the Budget.

Kingfisher was up 3%. Infrastructure stocks like GVK Power and GMR Infra too gained over 1%.

Education stocks like NIIT, Edserv Softsystems and Educomp Solution gained more


 

 

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