Local stock indices are seen taking cues from key
events lined up next week, with the focus primarily on the Union Budget
for 2013-14 (Apr-Mar), which is due to be presented on Thursday. Expiry
of the February derivatives contract, also due on Thursday, may ensure
volatility in the days ahead as traders decide on rolling over their
positions to the next month series. In case the budget disappoints, it
is expected that the Nifty may correct downwards to 5750/5650 levels
though immediate support remains at 5800. Yesterday, the National Stock
Exchange's 50-share Nifty ended flat at 5850.30, down 1.95 points from
close Thursday. Intraday, it touched a low of 5835.80 points. The BSE's
30-stock Sensex ended at 19317.01, down 8.35 points, after having
touched a low of 19289.83 intraday. Railrelated stocks may be in the
limelight early next week as the Railway Budget for 2013-14 is due on
Tuesday. This will be followed by the Economic Survey for 2012-13 on
Wednesday, and then the Union Budget on Thursday.
No comments:
Post a Comment