17 February 2014

MID SESSION UPDATE FOR 17/02/2014

A bout of volatility was witnesses as key benchmark indices regained positive terrain after slipping into the red for a brief period in mid-morning trade as the Finance Minister P Chidambaram started his speech on Vote-on-Account or interim budget for the first four months of 2014/15 in the parliament. The market breadth, indicating the overall health of the market turned negative. The barometer index, the S&P BSE Sensex, was up 34.44 points or 0.17%, off close to 80 points from the day's high and up about 60 points from the day's low. Bank stocks edged higher.
Finance Minister P Chidambaram said fiscal deficit will be To contained at 4.6% of GDP for the year ending 31 March 2014 . He added that current account deficit (CAD) will be contained at $45 billion in 2013/14. The government's objectives were fiscal consolidation and price stability, he added.
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