Market Eye Weekahead - Narrow range seen as budget nears

Sun Feb 17, 2013 7:28pm IST

A broker looks at a computer screen as he talks on a phone at a stock brokerage firm in Mumbai December 3, 2012. REUTERS/Danish Siddiqui/Files

A broker looks at a computer screen as he talks on a phone at a stock brokerage firm in Mumbai December 3, 2012.

Credit: Reuters/Danish Siddiqui/Files

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REUTERS - After a largely disappointing October-December earnings season, outside of some sectors such as IT, investors expect the market in India to remain in a narrow range ahead of the budget on February 28.

Traders will also track domestic institutional investors' flows, who have been on a selling spree in recent months as retail investors continue to cash in a recent rally by selling their equity mutual funds.

Investors will be looking to see whether next year's budget will provide fiscal reform measures or whether the government will increase spending ahead of the general elections by 2014.

A fiscally disciplined budget could see the markets once again resume gains, the Sensex having fallen 2.15 percent so far this month.

KEY FACTORS TO WATCH

Tuesday: India bond, FX markets closed for banking holiday

Thursday: Budget session of parliament to begin

(Reporting by Manoj Dharra)

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