Monday, February 22, 2010
The Sensex rose on Monday, February 22nd, after President Pratibha Patil said the government would aim to increase economic growth to 9% by 2012. Jaiprakash Associates and metal companies rose after the President said the government would spend more on infrastructure to help increase growth.
Tuesday, February 23, 2010
Stocks rose for a second day on Tuesday as investors remained optimistic that the government will maintain spending to boost the economy. DLF, BHEL, and Wipro saw gains for the day. Maruti Suzuki however sank as the company started recalling 100,000 A-Star cars.
Wednesday, February 24, 2010
The index fell for the first time in three days on Wednesday after the railway budget announced no new spending to acquire trains, concerning investors that economic stimulus measures would be curtailed in the Union Budget. Tata Motors fell to its lowest in almost 3 weeks while Mahindra & Mahindra declined almost 2.5%. Reliance Infrastructure dropped to a 9-month low.
Thursday, February 25,2010
The Sensitive index ended the day relatively flat on Thursday. Most stocks on the index fell as investors speculated the government could increase excise taxes and limit spending in the Union Budget. Tata Motors fell again while Hindustan Unilever, the country’s largest FMCG company, also lost for the day.
Friday, February 26, 2010
Markets ended on an upbeat note on Friday after the Finance Minister forecasted a lower fiscal deficit for 2010-2011 and reduced surcharges for companies. India’s lenders rose and auto companies saw huge surges for the day. Barring the Infotech and FMCG indices, all other sector indices ended the day green.