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Epic Update BHEL
The market continues to maintain uptrend after the Nifty hit 8650. The 50-share index is up 46.60 points or 0.5 percent at 8649.35 while the Sensex is up 169.72 points or 0.6 percent at 27877.86.
BHEL, Axis Bank, GAIL, NTPC and ICICI Bank are top gainers while Lupin, Wipro, Tata Steel, Bajaj Auto and Cipla are losers in the Sensex.
The Union budget is going to be a “market-neutral” event as policymakers are not likely to change their policy stance and will continue to focus on fiscal consolidation, says a Morgan Stanley report.
“We do not expect major changes in the conduct of fiscal policy and hence, view the budget as a market-neutral event,” Morgan Stanley said in a research note.
The Union budget for 2017-18 is due to be presented on February 1.
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