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MARKETS ON INTERIM BUDGET 2019: How will the measures impact your portfolio?

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SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

Markets, Stocks, BSE, NSE, SENSEX
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Markets will react to the Interim Budget 2019 proposals, which will be presented by Finance Minister Piyush Goyal in the Parliament today. 

The Interim Budget 2019 is likely to forecast a fiscal deficit of 3.3 per cent of GDP, whilst the actual fiscal deficit is likely to be 3.5 per cent of GDP for FY20, analysts say. Announcement of sops for farmers, SMEs, women and income tax payers are likely to be the key features of the speech. READ MORE ON WHAT TO EXPECT

Corporate Results

Among stocks, Bharti Airtel will be in focus as the company reported a 72 per cent drop in consolidated net income for the three months ended December 2018 at about Rs 86 crore amid market turbulence triggered by cut-throat competition. The net income stood at Rs 306 crore in the same period of the previous year.

Around 75 companies including State Bank of India, Dr Reddy's, Titan and Taj GVK Hotels & Resorts are slated to announce their December quarter earnings later in the day.

The rupee on Thursday edged higher by 4 paise to 71.08 against the US dollar amid weakness in the greenback in overseas markets after the US Fed kept interest rate unchanged.

Economic Data

The government on Thursday revised the economic growth rate upwards to 7.2 per cent for 2017-18 from the 6.7 per cent estimated earlier. According to the revised gross domestic product (GDP) data, released by the Central Statistics Office (CSO), the demonetisation year, 2016-17, saw a growth rate of 8.2 per cent, the highest in the five years of the Modi government. Earlier, the growth rate was estimated at 7.1 per cent.

This apart, growth in the eight core sectors of the economy continued to tumble, crashing to an 18-month low of 2.6 per cent in December, down from the 3.4 per cent growth in November.

Global Markets

Asian shares ticked up to four-month highs on Friday on hopes the leaders from the United States and China could strike a trade deal and as the Federal Reserve appeared to have all but abandoned a plan to raise borrowing rates further.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent after a stellar 7.2 per cent gain in January. Japan’s Nikkei gained 0.5 per cent.

The Dow Jones Industrial Average slipped 0.06 per cent to end at 24,999.67, the S&P 500 gained 0.86 per cent to end at 2,704.1 points, while the Nasdaq Composite added 1.37 per cent to 7,281.74.

(with wire input)

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