Market Outlook for the day – Current chart pattern suggests decline to continue having 7440 as the nearest support.
Jewellery stocks declined on BSE, in absence of any favorable announcement in the final Union Budget for 2014-15 presented in Lok Sabha.
Jain Irrigation Systems closed positive on BSE after the Finance Minister said that there is a need to provide assured irrigation to mitigate risk.
Shares of power companies jumped on BSE after the Union Finance Minister Arun Jaitley proposed various budgetary allocations for the sector.
Immense intraday volatility was witnessed with key benchmark indices closed in the red after Finance Minster Arun Jaitley made number of announcements in Union Budget 2014-15 such as a proposal to increase in foreign direction investment in insurance and defence manufacturing, measures to boost long term financing for infrastructure by banks and provided clarity on taxation with respect to foreign portfolio investors. The market breadth indicating the overall health of the market was positive.