Stocks
Nifty, Sensex to head higher – Wednesday closing report
Nifty has to stay above 7,300 for the rally to continue
 
We had mentioned in Tuesday’s closing report that Nifty, Sensex were likely to rally and that Nifty would be headed higher if it closes above 7,100. The post-Budget bull-run continued in the Indian stock markets and the major indices soared to close with gains of around 2% over Tuesday’s close. The trends of the major indices in Wednesday’s trading are given in the table below:
 
 
After a fall on Budget day, the bull-run on Indian stock markets continued for the second straight day on Wednesday, with the mood also lifted by the strong showing in other Asian markets and overnight gains in the US and Europe. Analysts said the sentiments were also boosted by signs of a rate cut by the Reserve Bank of India (RBI), given that Finance Minister Arun Jaitley has decided to adhere to meeting the deficit target of 3.9% for this fiscal, and lowering it to 3.5% for the next year. Sector-wise, the S&P BSE realty index, bankex, finance index and basic materials index were the prominent gainers among indices.
 
Bajaj Auto on Wednesday said it closed February sales with 12% growth in volumes. In a regulatory filing with the Bombay Stock Exchange (BSE), the company said it sold a total of 272,719 units (two-wheelers 235,282 units, commercial vehicles 37,437 units) last month as against 243,319 units (two-wheelers 216,077 units, commercial vehicles 27,242 units) sold in February 2015. However, the company's exports last month came down to 98,959 units against 112,909 units shipped out during February 2015. Bajaj Auto shares closed at Rs2,233.60, down 1.17% on the BSE.
 
Software major Infosys on Tuesday announced tying up with Microsoft to offer healthcare analytics, using the latter's cloud platform. "We have developed healthcare analytics solutions to augment the current processes and make them more efficient using Microsoft Cortana Analytics suite," the Bengaluru-based outsourcing firm said in a statement. The healthcare industry is undergoing a paradigm shift due to consumerisation and increasing costs, it said, adding that with the advent of advanced analytics and cloud technologies, it is possible to process, store and analyse large volumes of datasets at a lower cost, yielding huge benefits to healthcare processes. Infosys shares closed at Rs1,156.25, up 2.82% on the BSE.
 
US stocks shot up further on Tuesday, the first trading day of March, as investors expected a further easing of monetary policies due to weak economic data. Oil prices rose on Tuesday on the prospects of higher demand, with the West Texas Intermediate for April delivery up over 1% above $34 a barrel in the early trade trading. Global stocks rallied after downbeat manufacturing data out of the euro zone bolstered the cases of central banks to extend stimulus plans. The data will likely give the US Federal Reserve a pause as it deliberates on if and when it will further increase interest rates.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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'Baahubali 2' to release in April 2017
Chennai : Filmmaker S.S. Rajamouli's magnum opus "Baahubali: The Conclusion" is slated to hit the screens on April 14, next year.
 
According to industry sources, the film's release date has been locked already.
 
"The principal shooting will be wrapped up by this year-end. The remaining months before the release will be used extensively for post-production and computer graphics work," a source from the film's unit told IANS.
 
"Baahubali: The Conclusion" is the second part in the franchise and it is tipped to be made on a higher budget than its predecessor.
 
The film stars Rana Daggubati, Prabhas, Tamannah Bhatia and Anushka Shetty, besides a few new additions to the second part.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article

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