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Indian market began the week with Trump’s bombardment this time on Pharmaceuticals stocks which led to gap down opening, but by the end of the day market recovered from the early morning sell-off. However, market remained nervous ahead of the budget and ended the second session of the week with losses. As Finance Mr. Arun Jaitely started the Budget speech market traded in a narrow range with negative bias, however, by the end market participants realised there has been no changes in the Long Term Capital Gains (LTCG), which kept market participants on tenterhook. ‘No bad news is good news’ is what sums up for stock market from Union Budget 2017. This triggered rally and bulls ended the week with gains of 1.28% and Nifty reclaiming 8,700 mark. Going forward, the first RBI policy meet post the Union Budget on 8th February,2017, will be a major event for the market to watch out for.

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Market began the week on a subdued tone but soon resumed its upward journey after the private sector bank Indusind bank reported better than expected numbers. Sentiments further boosted as the country’s Industrial Output shrugged of the impact of demonetisation to surge to a one-year high of 5.7 per cent in November as compared to a contraction of 1.8 per cent in the previous month. In separate data issued by the statistics department, retail inflation decelerated to 3.41 per cent in December against 3.63 per cent a month ago with vegetable prices showing a slump. During the last couple of days of the week IT bellwether TCS and Infosys reported their earnings, TCS reported a decent set of numbers and Infosys cut the upper end of its full-year revenue growth forecast to 8.8% in constant currency terms as Indian software exporters brace for a more protectionist visa regime in the U.S., the industry’s largest market.

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