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Markets on upmove. Banks, Telecom flare up.

With expectations building up for the Union Budget, the markets on Monday, have shown trades in the positive zone. Stocks from the banking, capital goods and telecom space have moved up hoping to see some announcements bringing relief to these sectors in the budget speech of the Finance minister.

SBI from the banks arena, is the top gainer with over 3% hike. The stock is trading at 2294. ICICI Bank, the largest in the private sector, has moved up by 2%. PNB has also moved up by 1.4%. These hikes have taken the Bank Nifty index with 1.4% gains.

Cement stocks are trading mixed. Ambuja cements is up in the green, while ACC is trading in the red.

The stocks from the capital goods sector have also seen some surges. L&T is above by 2.8%. JPAssociates has moved up by 0.6%, while Punj lloyd has gained over 2%.

Some of the power stocks including Powergrid and Suzlon energy, have also gained, as some news have been floating around that the FM might announce some measures to boost the Power sector.

The CNX Midcap index has also moved up by 0.8%.

Real estate counter HDIL is up by 3%. Titan Industries is up by over 2%, while Educomp solutions is also up by 2%.


 

 

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