Sensex Likely to Remain Volatile, Union Budget in Focus

The Sensex and Nifty are likely to trade on a volatile note in trades on Saturday's special trading session for the Union Budget 2015-16.

 

The market participants would take cues from the Finance Minister Arun Jaitley's Budget speech which starts later in the day.

 

The government's Economy Survey reiterated India would not overshoot its deficit target of 4.1 per cent of gross domestic product in this fiscal year. It also stood by a medium-term target of cutting it to 3 per cent of GDP. The Survey will be the basis for the 2015/16 Budget to be unveiled on Saturday.

 

The Railway Budget presented on Thursday increased the outlay for capital expenditure by 50 per cent, raising hopes the Saturday's Union Budget will also boost capital expenditure, analysts said.

 

(With inputs from Reuters)