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Stock markets likely to be volatile this week due to Budget 2021 and RBI coverage, say analysts – Business News , Firstpost


In the final week, the BSE benchmark tumbled 2,592.77 factors, or 5.30 % due to revenue-reserving forward of Union Budget 2021

Representational picture. News18

New Delhi: Stock markets are anticipated to stay volatile in this eventful week because the Union Budget, macro knowledge and RBI coverage would be keenly watched by traders, say analysts.

The ongoing quarterly earnings season would additionally 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 stated.

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.

The Survey projected that India”s financial system is likely 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 observe an estimated 7.7 per cent contraction within the Gross Domestic Product (GDP) within the present monetary 12 months, the doc stated.

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,” stated Ajit Mishra, VP – Research, Religare Broking Ltd.

Driving market sentiments would additionally be bulletins of PMI knowledge for the manufacturing and companies sector this week.

Also, RBI rate of interest choice on Friday is one other main occasion that will drive home market sentiments.

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

Auto corporations 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 % due to revenue-reserving forward of the Union Budget.

Global tendencies may also be monitored in addition to funding development of overseas portfolio traders (FPIs)

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