MARKET EYE WEEKAHEAD-Indian stocks on hold ahead of budget

Fri Feb 22, 2013 4:28pm IST

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Stocks

   

* Indian shares will be closely monitoring the 2013/14 budget
for the next fiscal year to be announced on Feb. 28.
* All eyes will be on how the finance minister will manage to
meet the government's 4.8 percent fiscal deficit target for
2013/14, while still trying to revive growth amid persistent
inflation, and with general elections expected next year.
* Whether India can deliver a credible fiscally disciplined
budget is too close to call, but economists polled by Reuters
say its resolve to cut spending and giveaways in next week's
budget will reignite investor confidence. 
* Traders say NSE's 50-stock index will be range-bound
at above 5,800 until the budget. 
    
KEY FACTORS/EVENTS TO WATCH
Tues: Railway budget to be presented in parliament at 0630 GMT
      Ranbaxy Laboratories October-December earnings 
Wed: Economic report to be presented in parliament at 0530 GMT
Thurs: Federal budget to be presented in parliament at 0530 GMT
       Oct-Dec quarter fiscal deficit data due around 1030 GMT  
                   
       Infrastructure output for January due at 0630 GMT
       Oct-Dec quarter GDP data due at 0530 GMT
Fri: Manufacturing PMI, Foreign exchange reserves data to be
released at 1130 GMT

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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