Going forward, the Budget is going to be one of the most watched events for the market. “With the Budget around the corner, stock and sector-specific action could be seen going ahead on hopes of tax sops or duty cuts,” said Tapse of Mehta Equities.
On the global front, investor sentiment last week was dented after data showed a strong non-farm payroll growth in the US which led to diminishing hopes of a rate cut by the US Fed in the second half of the year, Khemka of Motilal Oswal Financial Services said. “Investors are now awaiting US Federal Reserve and Bank of Japan policy outcome this week along with US and India CPI data.
The day’s session saw foreign funds turning net buyers at Rs 2,572 crore along with domestic funds, who had a net inflow figure of Rs 2,764 crore, end-of-the-session data on BSE showed. The day’s session left investors marginally wealthier by Rs 1.8 lakh crore, with BSE’s market capitalisation now at Rs 431.4 lakh crore.
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