The market is rising ahead of Macro Economic Survey today. The Sensex is up 68.78 points or 0.3 percent at 23044.78, and the Nifty up 30.00 points or 0.4 percent at 7000.60. About 872 shares have advanced, 685 shares declined, and 98 shares are unchanged.
M&M, L&T, Adani Ports, Coal India and TCS are gainers while Hero, Bajaj Auto, Tata Steel, Maruti and Bharti are losers in the Sensex.
The Budget this year is likely to seek changes in the savings cap, medical reimbursement limit and exemption on housing loan interest. The lowest income tax slab is likely to be raised from Rs 2.5 lakh to Rs 3 lakh, which means income up to Rs 3 lakh is likely to be exempt from Income Tax. There are also indications that even the higher IT slabs may be re-jigged.
Headlines for the day:
Crompton fixes record date at 16 March 2016 for demerger
Lupin to invest in Japan; eyes 20 launches
IDBI Bank to raise Rs1500 crore by preferential issuance of shares to LIC
Trend in FII flows:
The FIIs were net sellers of Rs -1465.68 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 806.97 Cr, as per the provisional figures released by the NSE.
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