Markets open flat on the Budget day

Indian capital markets opened flat on the budget day, although there are mixed cues from global stock markets. On Wednesday, complete focus will be on the domestic Budget presentation along with the railway budget.

Finance Minister, Arun Jaitley has left for North Block, and as against concerns of cancellation owing to MP, E Ahamed passing away late night on Tuesday, the Budget 2017 presentation will be on schedule.

BSE Sensex and Nifty oscillated just by 0.1 per cent between the positive as well as negative boundaries in premarket session. BSE Sensex and Nifty are trading 0.2 per cent higher at the moment.

We can expect various major announcements after demonetisation, which would be of the likes of  digital India and smart cities initiatives, as also installation of bullet trains. Housing finance policies, gold transaction taxation norms, and steps towards ensuring health of public sector banks are the key factors that are being looked forward to. Taxing structure also will be focused from the industry point of view as there are expectations that taxes will be cut down to promote industrial development in the country.

All in all the industry and markets hold high expectations from the Budget as they look up to the ruling NDA government, as it prepares for the next election.