Market relaxed after the budget was announced yesterday and was in the favor of the lower-middle class people. In the start of the week Nifty reached below Rs 10,600 and now it is settled and back at the position between Rs 10,800-10,900. This indeed explains the positive impact of the budget, Sensex gained approx 200 points. Still some stocks are in the red i.e. because of the Q3 results that were announced. Majorly DHFL dropped more after the budget, cobrapost news still affecting and the govt. launched new probe against the housing finance company.
Yes Bank dropped 7% as senior group president resigns. Bank Nifty still struggling and below 200 points, rest of the indices are in the green. Bad news for RCOM, board members decided to announce bankruptcy to settle the Rs 40,000 crore of depth. ZEE ENT making a recovery after a big fall. And Dr. Reddy’s Lab at 52 weeks high ahead of Q3 earnings.