MARKET WRAP: Sensex tumbles almost 1,000 pts as Budget disappoints D-St

All that happened in the markets today

8:52 AM

BUDGET EXPECTATION :: Morgan Stanley

We expect the budget to: (a) focus on credible fiscal numbers and gradual consolidation, (b) continue to favour investment-driven growth with redistributive spending likely to remain in line with nominal GDP growth, (c) provide strong intent to raise additional resources through strategic divestment and asset monetisation, and (d) provide a credible medium-term fiscal consolidation plan and improve the health of the public sector balance sheet

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York, New York January 20, 2015. REUTERS

8:52 AM

Market outlook by HDFC Securities

Indian markets could open in the negative today following sharply negative US markets on Friday due to growing fears over the impact of coronavirus outbreak. The Cboe Volatility Index (VIX), widely considered to be the best fear gauge in the market, rose to just around 19 this month from 13.78, a gain of more than 37 per cent.

8:50 AM

Ahead of Budget :: Foreign investors pare holdings of Rs 6000 crore

Foreign portfolio investors (FPIs), key drivers of the bourses, have lightened their holdings ahead of the Budget to be presented on Saturday. In the previous five sessions, they had liquidated shares worth nearly Rs 6,000 crore. A large part of the sell-off can be attributed to the outbreak of the Coronavirus. READ MORE

8:41 AM

Market expects the Budget to focus on fiscal prudence, raising revenue

Credible fiscal numbers and gradual consolidation, rising revenue via strategic divestment and asset monetisation are some of the measures that the markets expect from the Budget for financial year 2020-21 (FY21) scheduled to be announced later in the day amid a weakening economy. Over the past few quarters, gross domestic product (GDP) growth has slowed to a 26-quarter low of 4.5 per cent in quarter ended September 2019, with risks to the economy stemming from both domestic (risk aversion in the financial sector and corporate sectors and weak private capex cycle) and external fronts (uncertainty caused by US-China trade tensions).  READ MORE

8:37 AM

NEWS ALERT | FM Nirmala Sitharaman leaves from her residence for the North Block

8:36 AM

LTCG removal, fiscal prudence: What brokerages want from FM this Budget?

Morgan Stanley

 

We expect the budget to: (a) focus on credible fiscal numbers and gradual consolidation, (b) continue to favour investment-driven growth with redistributive spending likely to remain in line with nominal GDP growth, (c) provide strong intent to raise additional resources through strategic divestment and asset monetization, and (d) provide a credible medium-term fiscal consolidation plan and improve the health of the public sector balance sheet. READ MORE

8:34 AM

Apr-Dec fiscal deficit hits 132.4% of budgetary target, at Rs 9.31 trillion

India's budgetary fiscal deficit for the April-December period was Rs 9.31 trillion, or 132.4 per cent of the budget estimates (BE). The government has targeted fiscal deficit to be at Rs 7.03 trillion for 2019-20. As per Controller General of Accounts (CGA) data released on Friday, the fiscal deficit during the corresponding months of the previous fiscal was 112.4 per cent of that year's target. READ MORE

8:30 AM

Budget 2020: Govt may increase spending on infra, offer tax incentives

Indian Prime Minister Narendra Modi's government is likely to increase state spending on infrastructure and offer some tax incentives in its Budget 2020 on Saturday, aiming to get growth back up from its lowest in a decade. In its annual economic report, released on Friday, the government predicted that economic growth would pick up to 6.0% to 6.5% in the fiscal year beginning April 1, but warned that it may have exceed its deficit target to revive growth.'' READ MORE

8:28 AM

FII/FPI & DII trading activity on NSE, BSE and MSEI

8:26 AM

Bulk deals on NSE as on Friday

Symbol	Security Name	Client Name	Buy / Sell	Quantity Traded	Trade Price / Wght. Avg. Price
CONTI	Continental Seed Chem Ltd	BEELINE BROKING LIMITED	BUY	40,000	81.50
CONTI	Continental Seed Chem Ltd	DEVI GEETA	BUY	44,000	81.60
CONTI	Continental Seed Chem Ltd	DEVI GEETA	SELL	44,000	81.50
CONTI	Continental Seed Chem Ltd	RAJESH PAL	BUY	44,000	81.50
CONTI	Continental Seed Chem Ltd	RAJESH PAL	SELL	4,000	81.95

Click here for the full list

8:25 AM

Bulk deals on BSE as on Friday

8:24 AM

TRADE SETUP:: SGX Nifty indicates a lower start for Sensex, Nifty on Budget day

8:21 AM

Asian Markets check

8:21 AM

US Markets check

(Source: Reuters)

8:19 AM

Shares bought on January 31 cannot be sold on the Budget day. Here's why

Finance Minister Nirmala Sitharaman is set to present the Union Budget for FY21 on February 1 amid expectations of relaxation in Long Term Capital Gains tax and Dividend Distribution Tax. Market regulator, Securities and Exchange Board of India (Sebi), has allowed the National Stock Exchange (NSE) and BSE to conduct regular trading on Saturday, February 1. READ MORE