After a turbulent ride last week, wherein benchmark indices lost 5%, markets are expected to remain volatile in this eventful week too as the Union Budget, macro data and RBI policy would be keenly watched by investors. Besides, the ongoing quarterly earnings season would also be in focus, guiding market trajectory. In the last week, the BSE Sensex fell 2,593 points or 5.30 percent to 46,286 and the Nifty50 corrected 737 points or 5.13 percent to 13,635, underperforming the broader markets. Global markets, too, corrected amid concerns over slower rollout of Covid vaccine and valuation concerns. When the markets would open for trading today, the single biggest factor that will determine market mood is the Union Budget. Finance Minister Nirmala Sitharaman is slated to present the Budget for FY22 in the Parliament at 11 am today. This Budget is more so keenly eyed as it comes on the heels of an unprecedented pandemic that changed India s economic landscape.
Will Markets Respond Well to Budget 2021 After Losing Almost Rs 10,000 cr Last Week?
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Ahead of Union Budget 201, the market witnessed continuous selling throughout the truncated week ended January 29 amid volatility due to monthly expiry, FII selling, and weak global markets. Meanwhile, market participants also booked profit ahead of the Budget to be presented later in the day.
Last week, BSE Sensex slipped 2,592.77 points or 5.3 percent to end at 46,285.77 and while the Nifty50 fell 737.3 points or 5 percent to finish at 13,634.60 levels.
The BSE Large-cap Index slipped 5 percent dragged by the Piramal Enterprises, Maruti Suzuki India, Tata Motors, and Dr. Reddy’s Laboratories, while Grasim Industries, Axis Bank, Cipla, and Sun Pharmaceutical Industries ended with marginal gains.
Stocks to watch today on February 1: Titan, Airtel, ICICI Bank, SJVN, Tata Motors, Cipla among others are the top stocks to watch out for in Monday s trading session
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