Nifty below 11,000, Sensex falls over 300 points, day after budget

Nifty below 11,000, Sensex falls over 300 points, day after budget:

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Cigarette Company’s stocks rose after the govt kept the cess on cigarettes unchanged. ITC Ltd gained 2 percent and VST Industries Ltd 3 % in the morning hours. Across sectors, Nifty PSU Banks Index was down 2 percent while, Nifty IT and Nifty FMCG were trading higher by 0.5% and 0.7%, respectively. 

Shares of Ashok Leyland Limited gained 2% after the company’s Q3 net profit was above expectation, while Bajaj Auto stock rose 1% after its sales rose 3,53,147 units in January.

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Investment Advisory, Stock Indices open flat on Monday

Investment Advisory, Stock Indices open flat on Monday:

Sensex, Nifty started the New Year 2018 on a subdued note, opening flat due to lack of major triggers in the morning session. The BSE Sensex was trading at 34,085, up 28.59 points, while the Nifty 50 was ruling at 10,534.55, up 3.85 points in later morning hours. 

The BSE Midcap & Small-cap indices were up 0.4% and 0.5%, respectively. Shares of I.T companies pressured to profit booking, as the Nifty IT index slipped 0.5 percent in early trade, led by near 1 percent losses in Tech Mahindra, TCS and Wipro stocks. 

Shares of IndiaBulls Housing Finance rose 3%, SBI rose 0.79%, Indian Oil Corporation rose 0.78%), BPCL rose 0.73% and Airtel gained 0.63% as the top gainers on Nifty50, whereas shares of Infratel, Wipro, TCS, Hindalco and Bajaj Auto were the top losers in today’s trade.

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