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Markets trade lower. All eyes set on budget tomorrow

Markets have begun the trade on the lowerside, with just a day left to the Union budget. Stocks from the capital goods, infrastructure, banking and IT sectors have given away in the trades. Expectations have built up among the investors and the industrialists from the Union budget, set to be presented tomorrow in the Parliament. Tensions have also aggravated after TMC, one of the allies of the UPA, has supposedly asked for a change of the Railway minister, after his presentation of the Railway budget yesterday.

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At 9:59 AM, the Nifty is holding at 5432, down by 32 points or -0.6%

Telecom majors are trading in red. RCOM has seen a deep cut of over 3.3% at 95.75. Bharti Airtel is down by 0.8%.

L&T is down by 1.4%. Punj lloyd is down by 2.3%. JP Associates is down by 2.5%. Reliance Infra is down by 1.7%

Coal India is also trading in the red with 2.5% cuts. Jindal Steel, Tata steel, SAIL – have all seen cuts of over 1%. JSW Steel has however seen a major decline of 3.5%.

IDFC is down by 1.5%. Reliance Capital is down by 2.2%.

Stocks in the green include Ambuja cements, Aban Offshore, GAIL and Sun TV.


 

 

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