Sensex and Nifty remained
in uncertainty ahead of Union Budget , due on Feb 29 . Selling increased
also because of rising crude oil prices, as it pressured the global stock
markets. The Sensex on Tuesday lost 1.59 per cent to close at 23,410.18 points,
while the Nifty fell 1.73 per cent to 7,109.55 points. Reports said that foreign
institutions were active sellers while the domestic investors preferred to stay
on the sidelines due to concerns about rising bad debt and lack of clarity on
the fiscal consolidation road map The Railway Budget will be presented
on Thursday, followed by Economic Survey the next day. Meanwhile the Union
Budget will be unveiled by finance minister Arun Jaitley on February 29. For
the midweek session, analysts shall look for the 7094 level because a decisive
break below this level shall be encouraging a heavy sell off.
Source: markettimestv
