Indian markets were higher today ahead of the Budget announcement but analysts have warned of volatility in today’s trade, depending on Budget proposals. The Sensex was up over 400 points after a six-day selloff while Nifty traded near 13,750.
“Markets are likely to turn highly volatile today responding to positive and negative Budget proposals. Besides the budget, an area of concern is the huge FPI outflows which touched a high of ₹5930 last Friday. There is a huge outflow from other emerging markets too. Part of this is due to the issues in US market relating to the hit to hedge funds from the ‘GameStock short squeeze,'” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“On…