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Interesting events await for the full week too, including the Union Budget to be announced tomorrow, interest rate decisions by central levels globally and key US macroeconomic data.
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Nirmal Determinant also pared many gains at higher levels after the Economic Survey 2023 was tabled in Parliament,
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The PSU Bank sector saw a rally of 4% after the sell-off in the last two weeks. There may be some ups and downs in the market on the budget day.
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Any constructive announcement made by the government in the Union Budget can take the market higher.
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Will be predominantly growth oriented with emphasis on further development of infrastructure like roads, railways, water, metro cities.
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In addition, there will be huge thrust on renewable energy to reduce the energy cost of GDP with announcement of more incentives to push solar power, EVs, public transport etc.
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Stock specific action will be watched. regions. The rupee weakened by Rs 0.42 to trade at 81.94 against the dollar
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Foreign fund outflows on account of uncertainty over Adani group sell-off in the last few days also kept pressure on the rupee.
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Appreciation in dollar index played its part on rupee weakness as the dollar stood at 102.33 compared to last week's low of 101.30.