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LORD JESUS CHRIST SAYS

“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened. Matthew 7:7-8

2 Mar 2016

STOCK MARKET- BUDGET GIVES WINGS TO MARKETS, SENSEX SOARS 1000 POINTS IN 2 DAYS.



Domestic stock markets jumped over 1.5 per cent on Wednesday, with the BSE Sensex soaring over 400 points and the Nifty rising above the key 7,350 levels.Here are the latest developments:

1) The post Budget rally has now entered its second day. On Tuesday, the Sensex had notched up its biggest one-day gain in nearly seven years on hopes that the Reserve Bank will ease rates after the government stuck to its fiscal deficit target for FY17. Traders expressed hope the RBI may step in to cut the repo rate even before its next scheduled policy review on April 5 given the central bank had pinned any further easing on the government's fiscal stance at its policy review last month.

2) Banking stocks led the market rally for a second straight day. The Nifty Bank - sub-index of banking shares - traded 3.5 per cent higher, outperforming the broader markets. Traders attributed the gains in banking stocks to a late night Reserve Bank announcement, which would free up more liquidity for state-owned and private lenders.

3) Traders hope that Finance Minister Arun Jaitley's decision to meet the fiscal deficit target of 3.5 per cent of GDP will keep foreign investors invested in India. Foreign investors, who have sold over Rs. 14,000 crore in stocks and debt in February, bought cash shares worth net Rs. 1,761 crore on Tuesday, boosting sentiments.

4) The rally in the rupee has also added to investors' confidence, traders say. The rupee, which was tottering near its record low last week, strengthened to 67.70 per dollar on Wednesday. It is on track for its fourth consecutive day of gain.

5) Domestic stock markets benefited from a global rally. Japan's Nikkei shot up 4 per cent in morning trade today, following a 3 per cent gain on Wall Street overnight.4) The rally in the rupee has also added to investors' confidence, traders say. The rupee, which was tottering near its record low last week, strengthened to 67.70 per dollar on Wednesday. It is on track for its fourth consecutive day of gain.

5) Domestic stock markets benefited from a global rally. Japan's Nikkei shot up 4 per cent in morning trade today, following a 3 per cent gain on Wall Street overnight.Story first published on: March 02, 2016 09:41 (IST)

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