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Today Sensex opened lower after three consecutive days of fall, and
dropped over 1000 points in intraday trade & Nifty fell below 13950
indicating that investors are taking money off the table ahead of mega-policy
event Union Budget 2021.At the domestic front investors kept their moves low
ahead of the Union Budget which is expected to focus on growth.The market
valuations have become stretched and most of the positives are factored in the
price. The upcoming Budget will be a tight rope walk for the government and
negative surprises of higher taxation. In Axis Securities pre-Budget
highlighted that despite limited fiscal space, policy reforms are likely to
continue. History suggests that past Budgets have disappointed the equity
markets more often, but this time the finance minister has promised a landmark
Budget. Axis Securities' positive Budget bets include Hero motocorp, Escorts,
Maruti Suzuki, Dabur India, Asian Paints, SBI, Star Cement, PI Industries,
Dhanuka, Amber Enterprises and Dixon Technologies.
TOP GAINERS-TECHM,SBILIFE,WIPRO,ITC,HCLTECH
TOP LOSERS-TATAMOTORS,TATASTEEL,TITAN,HINDALCO
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