The Union Budget 2019-20, to be presented later this week, will be the decisive factor for equity markets going ahead and investors are likely to be in a ‘wait and watch’ mode ahead of the mega event, analysts said.
However, markets may see some upmove following the trade truce announced by the US and China at the G-20 summit over the weekend, they added.
Besides, progress of monsoon, rupee and crude oil movement will also be tracked by participants.
According to Vinod Nair, Head — Research, Geojit Financial Services Ltd, “auto and metal sectors are likely to be subdued due to low demand and benign raw material prices. Government seems to have hectic task ahead- to support growth and maintain fiscal prudence which will be closely watched by the market.”