INSUBCONTINENT EXCLUSIVE:
The stock market gained after a wobbly start and bond yields spiked on Friday as investors weighed the impact of the fiscal stimulus
proposed in the interim budget on the economy and interest rates
on the gains.
Stock indices ended up 0.6 per cent after rising as much as 1.4 per cent soon after the budget announcement mid-way through
The Nifty rose to a high of 10,983.45 in the session but pared gains to end at 10,893.65, to end up 62.70 points
stimulus is expected to drive low-ticket consumption
Aditya Birla Sun Life Mutual Fund
target of 3.4 per cent for the financial year 2019-20, revising it from the budgeted fiscal deficit for FY19 of 3.3 per cent.
The volatility
Foreign portfolio investors bought Rs 1,300 crore worth of shares, according to provisional data after pumping over Rs 3,000 crore into
Indian stocks on Thursday
Domestic institutional investors were net sellers of Rs 5 crore worth of shares.
The reaction to the interim budget proposals in the bond
market was stronger as traders sold holdings fearing higher supply of papers due to additional market borrowings by the government to fund
The market had gained nearly 2 per cent in the previous session on the back of dovish commentary on rates by the US Federal
Reserve.
Majority of the top gainers on the Sensex were stocks that will benefit from the boost to consumption, with Hero MotoCorp surging 7
Vijay Sharma, head of fixed-income at PNB Gilts.
