Friday, March 04, 2011
Nifty March 2011 futures were at 5,547.75, at a premium of 9 points over spot closing of 5,538.75. Turnover in NSE's futures & options (F&O) segment plunged to Rs 104831.15 crore from Rs 150590.73 crore on Thursday, 3 March 2011.
Market friendly measures announced by Finance Minister Pranab Mukherjee in Union Budget 2011-12 presented on 28 February 2011 may continue to push the market higher. Progress of the peace talks in the Middle East, crude oil price and global market moves will also influence Indian stocks which have witnessed a solid post-Budget rally.
The key benchmark index surged in the week ended Friday, 4 March 2011, after the Finance Minister refrained from raising excise duty in the Union Budget 2011-12 unveiled on Monday, 28 February 2011. The market logged gains in three out of four trading sessions. The stock market was closed on Wednesday, 2 March 2011, on account of Mahashivratri.
The key benchmark indices pared initial strong gains to close flat as high crude oil prices triggered profit taking. The BSE 30-share Sensex was down 3.31 points or 0.02%, up close to 40 points from the day's low and off close to 245 points from the day's high. The Sensex and the 50-unit S&P CNX Nifty came off 5-week highs struck earlier in the day. World stocks rose as investors' confidence in the global economy was boosted by a drop in US jobless claims.