After a week of fall, Monday Morning has nothing positive to offer. Yes, all eyes will be on the Union Budget which Finance Minister Arun Jaitley will present around 11 am.
Tthe S&P BSE Sensex is trading at 23,118 down 36 points, while NSE Nifty is trading at 7,017 down mere eight points.
The outlook is a weak start. The run-up to the budget has been one of the worst for the market with the indices seeing one of its worst fall from calendar year to Budget date. Can Arun Jaitley turn the tide remains to be seen today. Nifty staged a smart comeback ahead of budget on Friday. Nifty needs to surpass the 7090 mark on closing basis beyond which we see Nifty making a dash towards the 7240 resistance mark.”
SBI has received shareholders approval to raise up to Rs. 15,000 crore by public issue or overseas issuance of shares.
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