We expect then bulls will take charge in the market By Keshav Lahoti, Angel Broking
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Below are Views On We expect then bulls will take charge in the market By Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd
Ahead of budget, market continues to be in correction mode by closing down by 1.1% mainly due to profit booking by foreign institutional investors and weak global cues. Market fears that the budget could make changes that could impact investor wealth (eg changes in taxation rates) so investors are booking profit. In case the fear doesn't materialise in the budget, we expect then bulls will take charge in the market. All the major sectors, except banking closed in red. Nifty Bank closed up 0.2% due to strong results reported by Axis Bank. Global cues were weak: Dow Futures, Nasdaq Futures anf FTSE closed down by 0.4%, 1.0% and 1.4% respectively. We expect for the next few days market reaction will depend on the upcoming budget.
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