The lack of any change in long term capital gains tax was sentiment-positive, while the unchanged corporate tax rate for large companies and income tax tweaking was line with Citi’s expectations, the report said.
Companies like Gruh Finance and DHFL, which provide loans to affordable housing for the middle and low income segments, rose up to 8%.
Infosys is among the top holdings of large equity mutual funds, such as HDFC Equity, ICICI Prudential Focussed Bluechip Fund and HDFC Top 200.
Last week, benchmark indices post would advise caution,“ said Gautam Chhaochharia, ED at UBS Securities.
Benchmark indices rose a little over 3.5% this week, their biggest weekly gains since May 2016, as foreign portfolio buying on Wednesday worth Rs 1,234 crore -their highest single day purchases in four months -also bolstered sentiment.
GIFT is a pet project of PM Modi who wants it to become a “price setter for at least a few of the largest traded instruments of the world” in ten years.
The index would inch up towards the 103 mark in another three months said Anuj Gupta Head Technical Research.
Since November 8, when the US elected a new president, the dollar index, which measures the unit against six major currencies, has gained more than 3% till now.
Even Brexit & Trump’s win weren’t as calamitous for the markets as had been predicted but a weaker rupee could prompt foreign investors to flee markets.
There is buildup in interest in rural-focused companies ahead of the budget: Deepak Jasani, HDFC Sec
Among largecaps, we like Lupin, Bank of Baroda, ICICI Bank, Kotak Bank, Tata Motors and Bajaj Auto. Small/ midcaps picks include V-Guard, Century Textiles.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon