INSUBCONTINENT EXCLUSIVE:
India Union Budget 2019: Market participants will watch the budget announcements closely on FridayFinance Minister Nirmala Sitharaman is due
to present her first Budget in Parliament on July 5
Economists and analysts eye significant measures to address the slowdown in growth and consumption, and prop up job creation
Analysts say some volatility can be expected in the run-up to Union Budget presentation
Many experts expect the Union Budget - the first full-year by the NDA government after its return to power in May 2019 - to be pro-growth
but also highlight that any major steps would further put pressure on the government's fiscal consolidation path.Jayant Manglik,
president, Religare Broking:"Participants should prepare themselves for a volatile week, citing list of events and data which are lined
broader range of 10,500-12,000."We expect the budget to be pro-growth given the decelerating economic growth and rising unemployment rate
Also, it would likely to set the roadmap for the government to implement key policies and tax reforms over its tenure."Anand RathiBrokerage
Anand Rathi has said in a note that it expects the government to announce a one-off increase in fiscal deficit target to 3.8 per cent of
GDP, from 3.4 per cent in the interim Budget.Noting that the expected budget-neutral market capitalisation would be positive for public
market, say experts)Anand Rathi expects the budget to positively impact the equity market, especially the FMCG, small durables,
derivatives, Kotak Securities:"We believe Nifty is in a structural uptrend
Recent behavioral parameters have affirmed the positive outlook
report)"A budget rally could be in the offing and aggressive long positions can be initiated
Support for the index is seen at 11,500
A bull call spread can be initiated at current levels."Get Breaking news, live coverage, and Latest News from India and around the world on
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