Today, the market is expected to open weak on global cues. Depending on the announcements made by the acting finance minister Pranab Mukherjee, wild swings could be seen in specific counters. Banks and Real Estate may be in focus. Moreover, expectations are the RBI may cut rates later this week. It’s a Monday morning when hopes run high.
The government will present an interim budget today and use every opportunity to send a clear message to the voters. Whether it can literally afford to do it or not is a different question, for which there are no answers now.
A bias may be there towards job protection and job generation. While indirect tax rates may be changed there is less hope of tinkering with direct tax rates. Import duty hike in steel and excise cuts in cement and auto are on the wish list.
The government will present an interim budget today and use every opportunity to send a clear message to the voters. Whether it can literally afford to do it or not is a different question, for which there are no answers now.
A bias may be there towards job protection and job generation. While indirect tax rates may be changed there is less hope of tinkering with direct tax rates. Import duty hike in steel and excise cuts in cement and auto are on the wish list.
The market will salute a cut in STT (Securities Transaction Tax) if it happens. Let's hope for the best and we advocate to book profit on higher levels, better to have cash then wait for targets to achieve .
