The BSE Sensex was up by 322.65 points at 34142.15 and the Nifty was up by 108.35 points at 10491.05.The rise was good after some time giving hope, that the markets will be good and some of them saying to enjoy the rise and book profits.
Actually the sensex has falen 2600 points from its record high of 36443 recorded earlier this month, of January.to 33819 the closing level on 22nd February.The markets might remain positive in the medium to long term on account of expected revival in Economic growth, facilitated by Bank recapitalisation and GST led efficiency gains. Corporate earnings are expected to improve over coming quarters as the impact of GST fades and consumption picks up. This along with a continued shift in Household savings from Physical Assets to financial assets, bodes well for equity markets.
The current fall in prices of stocks provide a good opportunity in picking up stocks at lower levels.Good quality stocks can be purchased.Consumer discretionary and staple companies are picking up due to the increase in Minimum support price for crops, and the Economic recovery.
The same factors like increase in Minimum support price for crops and oncrease in pay commission salaries by various state Governments, will increase the demand for cars and two wheelers. The increase in support price has led to an increase in Tractors. ENGINEERING AND INFRASTRUCTURE spending has been given a great impetus. The Governments ambitious project of Bharatmala scheme of inr 5.3 lakh crore have increased the business of Infrastructure companies. This will lead to, increase in demand for cement and steel industry thereby increasing in share prices. Sourced from Moneycontrol.
