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Monday, 29 February 2016
News on Indian Share Market Trading
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The domestic market is expected to trade in a range on Monday ahead of the Union Budget 2016, tracking positive trend seen in other Asian markets.In the pre-Budget session on Friday, Nifty bounced back and formed a higher top and higher bottom on the daily chart. If the index manages to rally above 7,250, then the bounce may take the index higher.
Jaiprakash Associates gains 6.6 pct, UltraTech Cement up 2.2 pct.UltraTech on Sunday said it agreed to buy 12 cement plants from Jayprakash Associates for an enterprise value of 165 billion rupees ($2.4 billion).Deal has "long-term benefits" for UltraTech but could face legal hurdles from competition regulator.
The domestic market is expected to trade in a range on Monday ahead of the Union Budget 2016, tracking positive trend seen in other Asian markets.In the pre-Budget session on Friday, Nifty bounced back and formed a higher top and higher bottom on the daily chart. If the index manages to rally above 7,250, then the bounce may take the index higher.
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