Market participants are expecting near-term volatility with the Union Budget skipping sector-specific stimulus packages for stressed segments such as real estate and non-bank financial services, and failing to meet domestic investors’ expectations on relaxing long-term capital gains (LTCG) tax.
Experts say selling pressure on the stock market may continue on Monday, even though $173-billion liquidity infusion by China’s central bank to boost its economy could provide some cushion.
On Saturday, the benchmark indices closed near their day’s lows, indicating further selling pressure on the following trading day. The Sensex ended 988 points, or 2.43 per cent, lower at 39,736 points, while the Nifty50 fell 300 points, or 2.51 per cent.
“The market was expecting the Budget to do more, given the domestic economic slowdown and global uncertainty. Over the next few days, the market is expected to absorb
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