Despite uncertainty, markets ends up in green ahead of derivatives expiry.
#Sensex and #Nifty both comfortably closed in green today ahead of Futures and Options expiry on Thursday. No particular sector led the rally today. Buying was seen across sectors in specific stocks.
The bloodshed which was seen yesterday in the Banking sector seem to have got over today with #Bankex closing in green. However specific stocks like UCO Bank saw a major sell off as the government announced a selective forensic investigation on certain loans extended by the bank. The fear is that some new NPAs or scam may surface in the process.
It’s just over a month since the budget. The FDI hike to 49% in Defense sector was announced in the budget and the government has also notified the same now. This news led a blanket buying in the defense related stocks today.
Prime Minister #NarendraModi had announced “Pradhan Mantri Jan Dhan Yojana” in his Independence Day speech on 15/Aug/2014 and the same is to be launched on 28/Aug/2014, within two weeks of the announcement! The PSU banks will be extending zero balance accounts under the scheme and the same would carry a Debit Card facility and the account holder will also have a Rs.1 Lac free insurance facility!
Few months back we were discussing about policy paralysis now we seem to be seeing hyper intentions and actions! Good for the country!
Few days back, many automobile companies were fined by the CCI for manufacturing inferior products, today the CCI has directed DLF to pay penalty of Rs.630 Crs within three months.
Lot of action waiting to happen! Keep visiting and Remain Invested!
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