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.