The Bombay Stock Exchange pre-budget trading was marked by the Sensex going up by 46.92 points as against the previous close of 3427.87, in anticipation of a positive budget. The Sensex opened at 3495.98, touched a high of 3510.04, a low of 3467.97, before closing at 3474.79. Sources informed that the market firmed up after opening on a weak note. There was some speculative buying, but on the whole the market moved up on account of some FII buying, said a dealer at leading brokerage.
Sources said the cement, steel and power sector scrips were the major gainers in the pre-budget trading. Market players are expecting some sops for the infrastructure sector, which propped up the prices of scrips like ACC, Gujarat Ambuja and MTNL, said a leading broker.
While the market closed on a positive note just before the pre-budget trade, market players are not expecting much from the budget. The market moved up by nearly 100 points in the past two days of trade, mainly on account of some genuine FII buying. For a change the punters were not much active on the bourse, while the FIIs moved to the side counters which is good for the market, said another dealer.
The other counter which was active during the pre-budget trading was ITC which witnessed heavy volumes. However, the market sources said this was mainly on account of speculative buying. Some of the side counters which were active include, Indian Hotels, Aptech, NIIT and others. Market sources also informed that the FIIs were bullish on India on a long term basis, which is evident from the recent buying which they have made. The index would move in a narrow range of 200 points in the post budget trading. The post budget trading would be like any other normal trading session, said another BSE broker.
