Interim Budget unlikely to impact market in a big way, say analysts

Two necessary occasions are due this week: the interim Budget and the Fed assembly on fee resolution. But these occasions are unlikely to impact the market in a big means, says V.Ok. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

The Budget will likely be a vote on account with out main bulletins able to impacting the market, he mentioned.

Regarding the Fed resolution, no fee minimize is anticipated, however the commentary will likely be keenly watched.

The turbulence in the Red Sea is popping out to be a severe challenge. Brent crude has spiked to $83, he added.

Stock particular motion in response to Q3 outcomes and information is probably going. LIC getting RBI approval to increase their stake in HDFC Bank is optimistic for the latter. Since FII promoting is sustained and excessive the bears will use rallies to promote, he added.

BSE Sensex is up a large 876 factors at 71,577.23 factors, up by 1.24 per cent. Powergrid is up 3 per cent, Kotak Mahindra Bank is up 2 per cent, Reliance Industries is up 2 per cent, L&T, Ultratech Cement, Axis Bank, Sun Pharma are up 2 per cent.

(With inputs from IANS)