For Quick Alerts
For Daily Alerts

Budget 2019-20: Market To Falter Because Of Lack of Direction In Budget


The markets ended the day lower on Friday, with the Sensex and the Nifty losing ground, following the Budgetary announcements.


It is unlikely that the markets will move higher in the coming days. In fact, resilience of the last few days has been remarkable.

Budget 2019-20: Market To Falter Because Of Lack of Direction In Budget

Yes Bank was the top loser in trade this week, with stock hitting a new 52-week low. It dropped almost 19 per cent for the week. There were reports that a real estate borrower defaulted on interest payment to private sector lender.

"Mumbai-based Radius Developers has defaulted on scheduled interest payment of Rs 30 crore, on a Rs 1,200-crore loan to the private lender," The Economic Times said.

Some analysts are betting on the stock bouncing in the coming days.

Real Estate major Godrej Properties was down over 7 percent in the week gone by. Global investment firm Morgan Stanley downgraded the stock on valuation concerns. It further said the downgrade reflected its relative preference within its coverage universe.

Select jewellery stocks are also expected

Markets next week

It is unlikely that we will see major gains in the markets going forward. One of the reasons for the same , is that many analysts believe that the budget lacks a vision to propel growth. Some concerns may also be on account of a lack of impetus to push for higher growth.


PSU banking stocks may continue to be in the limelight, as the government has offered a sum of Rs 70,000 crores for re-capitalization of banks.

Results for the first quarter will start pouring in the next 14 days. While IT may do well, some of the stocks like TCS have seen their price to earnings already expand. Banking is expected to do well, particularly the larger corporate banks.

Global cues have been strong in the last one year and it is likely to lend support to the markets.

Read more about: markets stock market sensex nifty
Story first published: Saturday, July 6, 2019, 15:28 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X