The impact of Interim Budget on equity markets will be neutral to mildly positive for the near term and other emerging triggers will drive its trajectory later, said Dhiraj Relli, MD & CEO, HDFC Securities.
Investors focus will be on the Budget even though it is a vote on account, Since it is colliding with the US Fed outcome where rates were kept unchanged, analysts expect markets to see some volatility.
With expectations for the interim Budget to be mainly a vote on account, lacking significant announcements, Nifty index is likely to maintain a narrow range, said Shrey Jain, Founder and CEO SAS Online.
Nifty Metal led the losses, falling around 1 percent. Nifty Pharma, Infra and IT indices were also trading with losses. On the flipside, gains in Nifty PSU Bank, Auto, Bank, Energy and FMCG indices capped losses for the headline indices.