Weekahead - Markets seen in tight ranges ahead of budget

REUTERS - Indian markets are likely to tread water in the run-up to the budget on Saturday.

Benchmark 10-year bond yield seen in a 7.65 to 7.75 pct range.

Traders say movement in global crude oil prices to be key for direction for bonds.

The partially convertible rupee seen moving in a 61.90 to 62.50 per dollar range next week.

Near-term range for Nifty seen between 8,700 to 9,000.

Further progress on coal block auctions may stoke expectations of higher public expenditure from federal budget, equity traders say.

EVENTS/FACTORS TO WATCH:

Thursday: Railway budget

Fridya: India infrastructure output for January

Saturday: Union budget starting 11 am IST