Further, Finance Minister Arun Jaitley will present his first full-year budget on February 28 for the 2015/16 fiscal year, a government official said on Wednesday. February 28 is a Saturday. The parliament session will begin on February 23 and will continue till March 20. The new fiscal year begins on April 1.
The INDIAN BENCHMARKS surged 1,156.95 points or 4.11% to settle at 29,278.84, while CNX Nifty jumped 321.80 points or 3.77% to settle at 8,835.60, a record closing high for the index.
GLOBAL MARKET CHASE
ASIAN STOCKS average rose to a near one-month high on Friday as investors' risk appetite was buoyed after the European Central Bank unveiled a bond-buying scheme to help revive the region's economy and stave off deflation.
U.S. STOCKS index futures poised for a higher opening at the Wall Street on Friday.
EUROPEAN STOCKS rose in early trade, enjoying their best two-week rally in five years, as investors cheered the European Central Bank's decision to buy government bonds.
In the coming week, trend in global markets, Q3 results of India Inc., outcome of Federal Reserve's meeting, elections in Greece, investment by foreign portfolio investors (FPIs), themovement of rupee against the dollar, and crude oil price movement will dictate trend on the bourses in a truncated trading week.
The stock markets will remain closed on Monday, 26 January 2015, on account of Republic Day. The market may remain volatile next week as traders roll over positions in the futures & options (F&O) segment from the near month January 2015 series to February 2015 series. The near month January 2015 derivatives contract expire on Thursday, January 29, 2015.
On global front, In US, the Federal Open Market Committee (FOMC) next undertakes monetary policy review at a two-day meeting on Tuesday, 27 January and Wednesday, 28
January 2015. In its last meet in December 2014, FOMC had based on its assessment, judged that it can be patient in beginning to normalize the stance of monetary policy.