Markets slip in red as investors await Budget 2017

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Benchmark indices were trading flat during the early morning trade as investors awauted Union Budget, to be tabled later in the day. Arun Jaitley is likely to boost spending and ease back on cutting the deficit in his fourth budget, as he seeks to lift growth hit by the demonetisation drive.

At 10:23 am, the S&P BSE Sensex was trading at 27,629, down 27 points, while the broader Nifty50 was ruling at 8,545, down 16 points.

In the broader market, BSE Midcap and BSE Smallcapindices gained 0.09% and 0.07% respectively.

“Yesterday’s slippage saw buying interest from the 8,580 region on anticipated lines, but without enough signs of resumption of uptrend. To this end, early rise into the 8,600-8,640 region should attract long liquidation attempts yet again, though a sharp fall is less expected,” said Geogit BNP Paribas in a note.

Read more:

BUDGET LIVE: Budget on schedule, Cabinet meeting to be held shortly

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