Stock markets forward: Budget, RBI coverage main occasions to be careful for

Image Source : PTI Stock markets forward: Budget, RBI coverage main occasions to be careful for
Stock markets are anticipated to stay risky on this eventful week because the Union Budget, macro knowledge and RBI coverage can be keenly watched by traders, say analysts. The ongoing quarterly earnings season would even be in focus directing the motion of indices.          

“Going ahead, markets may continue to remain highly volatile amidst the ongoing earnings season and the Union Budget 2021. Expectations from the Budget are running high,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd mentioned.                

Quarterly earnings of HDFC, Adani Power, Hero MotoCorp and M&M would stay in focus this week. The Economic Survey 2020-21 was tabled within the Lok Sabha on Friday.

BUDGET 2021: FULL COVERAGE

The Survey projected that India’s economic system is prone to develop by 11 per cent within the fiscal 12 months starting April 1 as a vaccine drive and rebound in client demand assist it emerge from the carnage inflicted by a strict coronavirus lockdown.

The rebound will comply with an estimated 7.7 per cent contraction within the Gross Domestic Product (GDP) within the present monetary 12 months, the doc mentioned.

According to the survey, the “V-shaped recovery is supported by COVID vaccination drive.”        

“Now all eyes would be on the Union Budget scheduled on Monday. We believe that the Budget would focus on reviving growth and any disappointment on that front would lead to further correction in the markets,” mentioned Ajit Mishra, VP – Research, Religare Broking Ltd.        

Driving market sentiments would even be bulletins of PMI knowledge for the manufacturing and companies sector this week. Also, RBI rate of interest resolution on Friday is one other main occasion that will drive home market sentiments.        

Sumeet Bagadia, Executive Director, Choice Broking mentioned, “Going ahead investors will keenly watch the Union Budget which is to be presented on 1st February 2021.”        

Auto firms would additionally stay in focus amid month-to-month gross sales knowledge announcement on Monday. In the final week, the 30-share BSE benchmark tumbled 2,592.77 factors or 5.30 per cent on account of profit-booking forward of the Union Budget. Global developments will even be monitored apart from funding development of overseas portfolio traders (FPIs).

Also Read | Budget 2021: Centre lists invoice to ban all cryptocurrencies in India, create official digital forex

 
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