The Finance Minister P.Chidambaram Presented the Union Budget 2013-14 before the parliament on Feb 28. it is P.chidambaram's 8th union Budget . Indian economy did not affect due to down global economy. RBI estimated GDP growth of 5.5% for FY 13.
Foreign investment was encouraged in Budget.
Indian stock market witnessed sharp selling pressure due to last date of future expiry contracts. Foreign institutional investment encouraged, but Union Budget was failed to cheer sentiments of investors.
After announcement investment of $1 trillion, Realty and infrastructure stocks gained. All Major Sector Index barring IT sector declined. profit sharing and pricing policy mentioned in budget. Oil and Gas sector will benefit.
Nifty future February contract closed at 5692.80 below 105 points, Option call ended at 86.80 and put closed at 0.05.
Tomorrow Support Resistance
Nifty Resistance 5820-5840
Nifty Support 5670-5650
Bullish stock for tomorrow
NTPC, JP Associat, Unitech, ITC, Bharti Airtel, Bajaj Auto, HCLtech