Sensex, Nifty in red; BHEL surges 4%, SBI gains 1%

The market is still struggling to get in green zone. The Sensex is down 105.28 points or at 29356.99 and the Nifty is down 25.35 points at 8869.95. About 1426 shares have advanced, 1202 shares declined, and 205 shares are unchanged.

BHEL is up 4 percent while Hindalco, SBI, Tata Steel and Sesa Sterlite are top gainers in the Sensex. Among the losers are Reliance, ICICI Bank, Wipro, Tata Power and Wipro.

Abhay Laijawala, Deutsche Equities believes the government needs to unequivocally signal its medium-term commitment to reviving stalled investment momentum, through increasing capital expenditure in critical sectors like roads, railways, irrigation and defence.

“The government can do this by articulating a 3-4 year roadmap to raise share of capital expenditure to 20 percent of total budget expenditure by FY18 from 10-12 percent currently,” he adds.