Budget overhang, RBI policy, Q3 results to guide market this week: Analysts

Budget overhang is likely to dominate trading pattern in the equity market this week, while participants will also keenly watch other developments like RBI policy, release of key macro data and quarterly earnings, according to analysts. Giving a thumbs down to the Budget, the market benchmark Sensex logged its biggest single-day plunge in more than a decade on Saturday after Budget presentation. Analysts said investors were disappointed as the Budget failed to live up to market expectations of growth-boosting measures and fiscal discipline. "The lack of major growth boosting measures in itself is negative for the equity market. The new income tax regime would also be negative for tax exempt equity savings schemes," Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares & Stock Brokers said. Finance Minister Nirmala Sitharaman on Saturday slashed income tax for individuals, abolished dividend tax for companies and announced some measures for agriculture and ...

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