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Investors cautious in the coming week

Investors cautious in the coming week
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First Published: Sun, Feb 25 2007. 03 31 PM IST
Updated: Sun, Feb 25 2007. 03 31 PM IST
By PTI
Mumbai: The stock market is likely to remain volatile with the Finance Minister scheduled to present the Union Budget this week and caution may be the keyword for investors on the Dalal Street though a positive rally cannot be ruled out, analysts say.
Sensex, which plunged a massive 770-point in the pre-budget week as inflation worries, unwinding of February derivatives and rising domestic interest rates created a bearish mood on the stock markets.
Apprehension among the investors is likely to persist in the coming week with speculations whether the government would hike the short-term capital gains tax on sale of shares and securities transaction tax in this budget.
“The worst has already been finished and although the market would remain volatile in the coming few days, Sensex is expected to remain in the positive territory,” a NSE broker Ratnesh Gupta said, adding that infrastructure and power sectors would hold forte in long-term perspective.
BSE Sensex shed 723.02 points for the week ended 23 February to settle at 13,632.53 compared with the previous week’s closing at 14,355.55 on 15 February 2007.
Industry analysts expect the Finance Ministry may give a big impetus to agriculture and infrastructure in the general budget two days later and the government may not bother much with the corporates as their profits have driven up a largesse of taxes this year.
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First Published: Sun, Feb 25 2007. 03 31 PM IST
More Topics: Money Matters | Equities |