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Market Eye Weekahead - Narrow range seen as budget nears
February 17, 2013 / 2:02 PM / 5 years ago

Market Eye Weekahead - Narrow range seen as budget nears

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.

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

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

Our Standards:The Thomson Reuters Trust Principles.
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